Bessemer Group Inc. maintained its stake in Portland General Electric Company (NYSE:POR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,700 shares of the utilities provider’s stock at the end of the second quarter. Bessemer Group Inc.’s holdings in Portland General Electric were worth $2,773,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. IFP Advisors Inc boosted its stake in Portland General Electric by 0.4% in the first quarter. IFP Advisors Inc now owns 2,811 shares of the utilities provider’s stock valued at $125,000 after buying an additional 10 shares during the period. Huntington National Bank boosted its stake in Portland General Electric by 1.2% in the second quarter. Huntington National Bank now owns 2,809 shares of the utilities provider’s stock valued at $128,000 after buying an additional 34 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Portland General Electric during the second quarter valued at approximately $202,000. Regentatlantic Capital LLC boosted its stake in Portland General Electric by 5.9% in the first quarter. Regentatlantic Capital LLC now owns 5,580 shares of the utilities provider’s stock valued at $248,000 after buying an additional 310 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Portland General Electric during the first quarter valued at approximately $252,000. Institutional investors own 95.29% of the company’s stock.

Portland General Electric Company (POR) opened at 46.34 on Wednesday. Portland General Electric Company has a 1-year low of $40.28 and a 1-year high of $48.06. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 20.69 and a beta of 0.29. The stock has a 50 day moving average price of $45.58 and a 200 day moving average price of $45.16.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, July 28th. The utilities provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.44 by $0.08. Portland General Electric had a return on equity of 8.48% and a net margin of 10.06%. The firm had revenue of $449 million during the quarter, compared to analyst estimates of $465.70 million. During the same period in the previous year, the company earned $0.42 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts predict that Portland General Electric Company will post $2.22 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 25th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Friday, September 22nd. Portland General Electric’s payout ratio is currently 60.71%.

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Several research firms have commented on POR. Barclays PLC restated an “underweight” rating and issued a $44.00 price target (up previously from $41.00) on shares of Portland General Electric in a report on Sunday, April 23rd. BidaskClub upgraded Portland General Electric from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research upgraded Portland General Electric from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. UBS AG cut Portland General Electric from a “buy” rating to a “neutral” rating in a report on Tuesday, May 2nd. Finally, Williams Capital cut Portland General Electric from a “hold” rating to a “sell” rating and lowered their price target for the company from $44.00 to $41.00 in a report on Monday, July 24th. Five equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Portland General Electric currently has a consensus rating of “Sell” and an average target price of $42.00.

In other Portland General Electric news, insider William O. Nicholson sold 6,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $45.10, for a total value of $270,600.00. Following the transaction, the insider now directly owns 16,313 shares of the company’s stock, valued at approximately $735,716.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Campbell A. Henderson sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $45.01, for a total value of $135,030.00. Following the completion of the transaction, the vice president now directly owns 20,424 shares in the company, valued at $919,284.24. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company’s stock.

About Portland General Electric

Portland General Electric Company is an electric utility that is engaged in the wholesale purchase, transmission, distribution and retail sale of electricity in the State of Oregon. Its service area allocation of approximately 4,000 square miles is located entirely within Oregon and includes approximately 51 incorporated cities, of which Portland and Salem.

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Institutional Ownership by Quarter for Portland General Electric (NYSE:POR)

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