Bank of New York Mellon Corp Has $65.56 Million Stock Holdings in Portland General Electric Company $POR

Bank of New York Mellon Corp grew its holdings in Portland General Electric Company (NYSE:POR) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,366,072 shares of the utilities provider’s stock after buying an additional 70,343 shares during the quarter. Bank of New York Mellon Corp owned 1.21% of Portland General Electric worth $65,558,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new stake in shares of Portland General Electric in the 4th quarter worth about $25,000. Private Trust Co. NA grew its holdings in shares of Portland General Electric by 76.4% in the 4th quarter. Private Trust Co. NA now owns 552 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 239 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Portland General Electric in the 3rd quarter worth about $27,000. Rothschild Investment LLC grew its holdings in shares of Portland General Electric by 112.9% in the 4th quarter. Rothschild Investment LLC now owns 611 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 324 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Portland General Electric by 272.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 719 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 526 shares during the last quarter.

Portland General Electric Stock Up 0.6%

Shares of NYSE:POR opened at $50.26 on Wednesday. Portland General Electric Company has a 12 month low of $39.54 and a 12 month high of $54.62. The company’s 50-day moving average price is $50.77 and its two-hundred day moving average price is $50.58. The company has a quick ratio of 0.95, a current ratio of 1.09 and a debt-to-equity ratio of 1.19. The firm has a market cap of $5.82 billion, a P/E ratio of 22.44, a P/E/G ratio of 2.10 and a beta of 0.52.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Thursday, April 30th. The utilities provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.19). Portland General Electric had a return on equity of 7.57% and a net margin of 7.12%.The company had revenue of $879.00 million for the quarter, compared to the consensus estimate of $953.24 million. During the same period in the prior year, the company earned $0.91 EPS. The firm’s revenue was down 5.3% compared to the same quarter last year. As a group, research analysts forecast that Portland General Electric Company will post 3.39 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, June 25th will be given a dividend of $0.5513 per share. This represents a $2.21 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Thursday, June 25th. This is a boost from Portland General Electric’s previous quarterly dividend of $0.53. Portland General Electric’s dividend payout ratio is currently 93.75%.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, VP Juan Diego Gallegos sold 2,750 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $48.67, for a total transaction of $133,842.50. Following the transaction, the vice president directly owned 12,127 shares in the company, valued at approximately $590,221.09. This represents a 18.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Joseph R. Trpik, Jr. sold 7,500 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $49.03, for a total transaction of $367,725.00. Following the transaction, the chief financial officer owned 31,897 shares in the company, valued at approximately $1,563,909.91. The trade was a 19.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on POR. UBS Group upped their target price on shares of Portland General Electric from $53.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Portland General Electric in a report on Friday, May 15th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $55.00 target price on shares of Portland General Electric in a report on Thursday, February 19th. JPMorgan Chase & Co. upped their target price on shares of Portland General Electric from $51.00 to $54.00 and gave the stock a “neutral” rating in a report on Monday, April 20th. Finally, Wells Fargo & Company set a $51.00 target price on shares of Portland General Electric in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $51.00.

Portland General Electric Profile

Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon’s largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.