Inceptionr LLC Buys New Holdings in Portland General Electric Company $POR

Inceptionr LLC purchased a new position in shares of Portland General Electric Company (NYSE:POR) during the first quarter, HoldingsChannel reports. The firm purchased 33,420 shares of the utilities provider’s stock, valued at approximately $1,764,000.

Other institutional investors have also added to or reduced their stakes in the company. Sei Investments Co. boosted its holdings in Portland General Electric by 38.0% in the first quarter. Sei Investments Co. now owns 225,475 shares of the utilities provider’s stock worth $11,898,000 after acquiring an additional 62,099 shares in the last quarter. First Citizens Bank & Trust Co. raised its stake in shares of Portland General Electric by 2.0% in the first quarter. First Citizens Bank & Trust Co. now owns 10,997 shares of the utilities provider’s stock worth $580,000 after purchasing an additional 218 shares during the last quarter. Magellan Asset Management Ltd lifted its holdings in shares of Portland General Electric by 24.3% in the first quarter. Magellan Asset Management Ltd now owns 102,916 shares of the utilities provider’s stock valued at $5,431,000 after purchasing an additional 20,110 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Portland General Electric by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,831,142 shares of the utilities provider’s stock valued at $96,629,000 after purchasing an additional 18,146 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Portland General Electric by 14.8% during the first quarter. Parallel Advisors LLC now owns 5,673 shares of the utilities provider’s stock valued at $299,000 after buying an additional 730 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on POR shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Portland General Electric in a report on Friday, May 15th. Wells Fargo & Company set a $51.00 price objective on Portland General Electric in a research note on Tuesday, April 21st. Zacks Research downgraded shares of Portland General Electric from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. BMO Capital Markets reduced their target price on shares of Portland General Electric from $55.00 to $54.00 and set a “market perform” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. increased their target price on shares of Portland General Electric from $51.00 to $54.00 and gave the company a “neutral” rating in a report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $50.90.

Portland General Electric Price Performance

Portland General Electric stock opened at $52.41 on Friday. Portland General Electric Company has a 52 week low of $39.73 and a 52 week high of $54.62. The company’s 50 day moving average price is $50.98 and its two-hundred day moving average price is $51.26. The stock has a market cap of $6.07 billion, a P/E ratio of 23.40, a P/E/G ratio of 2.22 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 earnings results on Thursday, April 30th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.19). The business 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 period in the prior year, the company earned $0.91 earnings per share. On average, equities analysts predict that Portland General Electric Company will post 3.4 earnings per share for the current year.

Insiders Place Their Bets

In other Portland General Electric news, Director Robert N. Hoglund acquired 2,000 shares of Portland General Electric stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $48.80 per share, for a total transaction of $97,600.00. Following the purchase, the director directly owned 2,519 shares of the company’s stock, valued at $122,927.20. This trade represents a 385.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Juan Diego Gallegos sold 2,750 shares of the firm’s stock in a transaction on 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 directly owned 12,127 shares of the company’s stock, valued at approximately $590,221.09. This represents a 18.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.52% of the company’s stock.

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.