13,341 Shares in Portland General Electric Company $POR Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC bought a new position in Portland General Electric Company (NYSE:POR) during the first quarter, Holdings Channel reports. The institutional investor bought 13,341 shares of the utilities provider’s stock, valued at approximately $708,000.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Portland General Electric by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 13,020,573 shares of the utilities provider’s stock valued at $624,857,000 after purchasing an additional 513,517 shares during the period. State Street Corp grew its stake in shares of Portland General Electric by 3.4% in the fourth quarter. State Street Corp now owns 4,728,784 shares of the utilities provider’s stock worth $229,333,000 after purchasing an additional 156,164 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Portland General Electric by 1,342.7% during the fourth quarter. Clearbridge Investments LLC now owns 4,643,134 shares of the utilities provider’s stock valued at $222,824,000 after purchasing an additional 4,321,305 shares during the period. AQR Capital Management LLC increased its holdings in shares of Portland General Electric by 42.2% during the fourth quarter. AQR Capital Management LLC now owns 3,551,731 shares of the utilities provider’s stock valued at $170,448,000 after purchasing an additional 1,054,450 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Portland General Electric by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 2,805,796 shares of the utilities provider’s stock valued at $134,680,000 after purchasing an additional 73,185 shares in the last quarter.

Portland General Electric Stock Performance

Shares of NYSE POR opened at $51.25 on Tuesday. The stock’s fifty day simple moving average is $51.13 and its 200 day simple moving average is $51.30. 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 stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 2.19 and a beta of 0.52. Portland General Electric Company has a 52-week low of $40.81 and a 52-week high of $54.62.

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

Portland General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, September 25th will be paid a $0.5513 dividend. This represents a $2.21 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Friday, September 25th. Portland General Electric’s dividend payout ratio is currently 98.21%.

Insider Buying and Selling

In related news, VP Juan Diego Gallegos sold 2,750 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $48.67, for a total transaction of $133,842.50. Following the completion of the sale, the vice president directly owned 12,127 shares in the company, valued at approximately $590,221.09. This trade represents a 18.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Joseph R. Trpik, Jr. sold 7,500 shares of the business’s stock in a transaction on 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. This represents a 19.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.52% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

POR has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Portland General Electric in a report on Friday, May 15th. Wells Fargo & Company set a $51.00 target price on Portland General Electric in a research report on Tuesday, April 21st. JPMorgan Chase & Co. increased their price target on Portland General Electric from $51.00 to $54.00 and gave the company a “neutral” rating in a research note on Monday, April 20th. Zacks Research cut Portland General Electric from a “hold” rating to a “strong sell” rating in a research report on Monday, July 6th. Finally, BMO Capital Markets dropped their price objective on Portland General Electric from $55.00 to $54.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $50.90.

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.