1,177,263 Shares in Portland General Electric Company $POR Bought by Norges Bank

Norges Bank acquired a new stake in shares of Portland General Electric Company (NYSE:POR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,177,263 shares of the utilities provider’s stock, valued at approximately $56,497,000. Norges Bank owned 1.05% of Portland General Electric as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. UBS Group AG raised its stake in Portland General Electric by 514.3% in the fourth quarter. UBS Group AG now owns 883,162 shares of the utilities provider’s stock valued at $42,383,000 after purchasing an additional 739,404 shares in the last quarter. Millennium Management LLC grew its stake in Portland General Electric by 99.4% in the 3rd quarter. Millennium Management LLC now owns 1,385,777 shares of the utilities provider’s stock worth $60,974,000 after buying an additional 690,743 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Portland General Electric by 34.1% in the 3rd quarter. AQR Capital Management LLC now owns 2,497,281 shares of the utilities provider’s stock worth $109,381,000 after buying an additional 634,890 shares during the last quarter. Barclays PLC raised its position in shares of Portland General Electric by 223.4% during the 3rd quarter. Barclays PLC now owns 766,535 shares of the utilities provider’s stock valued at $33,728,000 after buying an additional 529,536 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of 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 buying an additional 513,517 shares in the last quarter.

Insider Transactions at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $49.03, for a total transaction of $367,725.00. Following the completion of the transaction, the chief financial officer owned 31,897 shares of the company’s stock, valued at $1,563,909.91. This represents a 19.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Juan Diego Gallegos sold 2,750 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $48.67, for a total value of $133,842.50. Following the completion of the sale, the vice president owned 12,127 shares of the company’s stock, valued at approximately $590,221.09. This trade represents a 18.48% decrease in their position. The SEC filing for this sale provides additional information. 0.52% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wells Fargo & Company set a $51.00 target price on shares of Portland General Electric in a research report on Tuesday, April 21st. UBS Group lifted their price target on Portland General Electric from $53.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Portland General Electric in a report on Friday, May 15th. JPMorgan Chase & Co. increased their price objective on Portland General Electric from $51.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Finally, Barclays boosted their target price on 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. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $51.00.

Portland General Electric Stock Performance

Shares of POR stock opened at $50.51 on Monday. The company has a market capitalization of $5.85 billion, a P/E ratio of 22.55, a PEG ratio of 2.12 and a beta of 0.52. Portland General Electric Company has a fifty-two week low of $39.54 and a fifty-two week high of $54.62. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.95 and a current ratio of 1.09. The stock has a 50 day moving average price of $50.84 and a two-hundred day moving average price of $50.56.

Portland General Electric (NYSE:POR) last issued 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 analysts’ expectations of $953.24 million. Portland General Electric had a return on equity of 7.57% and a net margin of 7.12%.The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 earnings per share. Analysts expect that Portland General Electric Company will post 3.39 earnings per share for the current year.

Portland General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, June 25th will be paid a dividend of $0.5513 per share. This represents a $2.21 annualized dividend and a dividend yield of 4.4%. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, June 25th. Portland General Electric’s payout ratio is currently 93.75%.

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.