Truist Financial Corp Sells 42,007 Shares of Portland General Electric Company $POR

Truist Financial Corp lowered its position in shares of Portland General Electric Company (NYSE:POR) by 45.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 50,875 shares of the utilities provider’s stock after selling 42,007 shares during the quarter. Truist Financial Corp’s holdings in Portland General Electric were worth $2,441,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in Portland General Electric during the fourth quarter valued at $25,000. Private Trust Co. NA boosted its position in Portland General Electric by 76.4% during the fourth quarter. Private Trust Co. NA now owns 552 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 239 shares during the last quarter. Root Financial Partners LLC bought a new stake in Portland General Electric during the third quarter valued at $27,000. Johnson Financial Group Inc. bought a new stake in Portland General Electric during the third quarter valued at $27,000. Finally, Clearstead Advisors LLC boosted its position in Portland General Electric by 206.8% during the third quarter. Clearstead Advisors LLC now owns 856 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 577 shares during the last quarter.

Portland General Electric Trading Up 0.1%

POR opened at $48.41 on Wednesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.09 and a quick ratio of 0.95. Portland General Electric Company has a fifty-two week low of $39.54 and a fifty-two week high of $54.62. The firm has a market capitalization of $5.60 billion, a PE ratio of 21.61, a P/E/G ratio of 2.02 and a beta of 0.54. The company’s 50-day moving average is $52.02 and its 200 day moving average is $50.34.

Portland General Electric (NYSE:POR) last posted its earnings results on Thursday, April 30th. The utilities provider reported $0.58 earnings per share 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 business had revenue of $879.00 million during the quarter, compared to analyst estimates of $953.24 million. During the same quarter in the prior year, the company earned $0.91 EPS. The company’s revenue was down 5.3% on a year-over-year basis. As a group, research analysts predict that Portland General Electric Company will post 3.4 earnings per share 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. Investors of record on Thursday, June 25th will be issued a $0.5513 dividend. The ex-dividend date is Thursday, June 25th. This represents a $2.21 dividend on an annualized basis and a dividend yield of 4.6%. This is a boost from Portland General Electric’s previous quarterly dividend of $0.53. Portland General Electric’s dividend payout ratio (DPR) is currently 93.75%.

Insider Buying and Selling at Portland General Electric

In related 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 value of $133,842.50. Following the sale, the vice president owned 12,127 shares in the company, valued at $590,221.09. This represents a 18.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert N. Hoglund bought 2,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $48.80 per share, for a total transaction of $97,600.00. Following the acquisition, the director directly owned 2,519 shares in the company, valued at $122,927.20. The trade was a 385.36% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have sold 15,219 shares of company stock worth $767,707. 0.52% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Portland General Electric from $47.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 17th. Wells Fargo & Company set a $51.00 price objective on shares of Portland General Electric in a research report on Tuesday, April 21st. BMO Capital Markets reissued a “market perform” rating and set a $55.00 price objective on shares of Portland General Electric in a research report on Thursday, February 19th. JPMorgan Chase & Co. increased their price objective on shares of Portland General Electric from $51.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Finally, Weiss Ratings cut shares of Portland General Electric from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.00.

About Portland General Electric

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.