498,815 Shares in Portland General Electric Company $POR Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Portland General Electric Company (NYSE:PORFree Report) during the first quarter, HoldingsChannel.com reports. The firm acquired 498,815 shares of the utilities provider’s stock, valued at approximately $26,322,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of Portland General Electric by 7.4% in the 1st quarter. Royal Bank of Canada now owns 161,931 shares of the utilities provider’s stock worth $7,222,000 after acquiring an additional 11,141 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Portland General Electric by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,949 shares of the utilities provider’s stock valued at $2,763,000 after acquiring an additional 2,717 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Portland General Electric by 465.5% in the first quarter. Millennium Management LLC now owns 151,134 shares of the utilities provider’s stock valued at $6,741,000 after purchasing an additional 124,410 shares during the period. United Services Automobile Association purchased a new stake in shares of Portland General Electric in the first quarter valued at about $271,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Portland General Electric by 6.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,640 shares of the utilities provider’s stock worth $10,420,000 after purchasing an additional 13,799 shares during the last quarter.

Insider Activity

In related news, Director Robert N. Hoglund acquired 2,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $48.80 per share, with a total value of $97,600.00. Following the transaction, the director owned 2,519 shares of the company’s stock, valued at approximately $122,927.20. This trade represents a 385.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Joseph R. Trpik, Jr. sold 7,500 shares of Portland General Electric stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $49.03, for a total transaction of $367,725.00. Following the completion of the sale, the chief financial officer owned 31,897 shares of the company’s stock, valued at $1,563,909.91. This trade represents a 19.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.52% of the company’s stock.

More Portland General Electric News

Here are the key news stories impacting Portland General Electric this week:

Analyst Ratings Changes

A number of brokerages have commented on POR. JPMorgan Chase & Co. lifted their target price on shares of Portland General Electric from $51.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday, April 20th. Zacks Research cut shares of Portland General Electric from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. BMO Capital Markets cut their price target on shares of Portland General Electric from $55.00 to $54.00 and set a “market perform” rating for the company in a report on Wednesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Portland General Electric in a research report on Friday, May 15th. Finally, Wells Fargo & Company set a $51.00 price objective on Portland General Electric in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $50.90.

Read Our Latest Research Report on POR

Portland General Electric Stock Down 0.0%

Shares of NYSE:POR opened at $52.03 on Monday. The business has a 50-day moving average price of $51.07 and a 200 day moving average price of $51.28. The company has a current ratio of 1.09, a quick ratio of 0.95 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 2.19 and a beta of 0.52. Portland General Electric Company has a 12-month low of $39.85 and a 12-month high of $54.62.

Portland General Electric (NYSE:PORGet Free Report) last issued its quarterly earnings data 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). Portland General Electric had a net margin of 7.12% and a return on equity of 7.57%. The company had revenue of $879.00 million during the quarter, compared to analysts’ expectations of $953.24 million. During the same quarter last year, the firm posted $0.91 earnings per share. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. Sell-side analysts expect that Portland General Electric Company will post 3.39 EPS for the current year.

Portland General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, September 25th will be given a dividend of $0.5513 per share. The ex-dividend date is Friday, September 25th. This represents a $2.21 dividend on an annualized basis and a dividend yield of 4.2%. Portland General Electric’s dividend payout ratio (DPR) is currently 98.21%.

Portland General Electric Profile

(Free Report)

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.

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

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