Fifth Third Bancorp Buys 125,004 Shares of Portland General Electric Company $POR

Fifth Third Bancorp raised its position in shares of Portland General Electric Company (NYSE:POR) by 15,509.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,810 shares of the utilities provider’s stock after purchasing an additional 125,004 shares during the period. Fifth Third Bancorp’s holdings in Portland General Electric were worth $6,639,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in POR. Natixis Advisors LLC increased its holdings in shares of Portland General Electric by 0.6% in the fourth quarter. Natixis Advisors LLC now owns 35,548 shares of the utilities provider’s stock worth $1,706,000 after buying an additional 207 shares during the period. Sigma Planning Corp grew its position in Portland General Electric by 3.9% during the 4th quarter. Sigma Planning Corp now owns 5,663 shares of the utilities provider’s stock worth $272,000 after acquiring an additional 210 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Portland General Electric by 18.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,469 shares of the utilities provider’s stock worth $71,000 after acquiring an additional 226 shares during the last quarter. Fox Hill Wealth Management increased its stake in Portland General Electric by 0.6% in the 4th quarter. Fox Hill Wealth Management now owns 39,373 shares of the utilities provider’s stock worth $1,890,000 after purchasing an additional 237 shares during the period. Finally, Private Trust Co. NA increased its stake in 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 period.

Insider Activity

In other news, CFO Joseph R. Trpik, Jr. sold 7,500 shares of Portland General Electric 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 sale, the chief financial officer owned 31,897 shares of the company’s stock, valued at approximately $1,563,909.91. The trade was a 19.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Juan Diego Gallegos sold 2,750 shares of the business’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 owned 12,127 shares in the company, valued at $590,221.09. This represents a 18.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.52% of the company’s stock.

Portland General Electric Price Performance

Shares of Portland General Electric stock opened at $52.77 on Friday. The business has a 50 day moving average of $50.56 and a 200 day moving average of $51.10. Portland General Electric Company has a 52 week low of $39.73 and a 52 week high of $54.62. The company has a market cap of $6.11 billion, a PE ratio of 23.56, a P/E/G ratio of 2.19 and a beta of 0.52. The company has a quick ratio of 0.95, a current ratio of 1.09 and a debt-to-equity ratio of 1.19.

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

Portland General Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Thursday, June 25th were given a $0.5513 dividend. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $2.21 annualized dividend and a dividend yield of 4.2%. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.53. Portland General Electric’s dividend payout ratio is 98.21%.

Wall Street Analysts Forecast Growth

POR has been the subject of a number of analyst reports. 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 note on Monday, April 20th. Wells Fargo & Company set a $51.00 price objective on shares of Portland General Electric in a research report on Tuesday, April 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Portland General Electric in a research note on Friday, May 15th. Finally, Zacks Research downgraded shares of Portland General Electric from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target 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.