Principal Financial Group Inc. Sells 556,904 Shares of Portland General Electric Company $POR

Principal Financial Group Inc. trimmed its position in Portland General Electric Company (NYSE:POR) by 69.3% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 247,003 shares of the utilities provider’s stock after selling 556,904 shares during the period. Principal Financial Group Inc. owned about 0.23% of Portland General Electric worth $10,868,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. IFP Advisors Inc grew its position in shares of Portland General Electric by 1,291.7% during the 2nd quarter. IFP Advisors Inc now owns 668 shares of the utilities provider’s stock worth $27,000 after buying an additional 620 shares during the period. Root Financial Partners LLC bought a new position in Portland General Electric in the third quarter valued at approximately $27,000. Bell Investment Advisors Inc grew its holdings in Portland General Electric by 80.6% during the 2nd quarter. Bell Investment Advisors Inc now owns 829 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 370 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in Portland General Electric during the 2nd quarter worth $51,000. Finally, Allworth Financial LP raised its position in shares of Portland General Electric by 136.9% during the 2nd quarter. Allworth Financial LP now owns 1,343 shares of the utilities provider’s stock valued at $55,000 after acquiring an additional 776 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have weighed in on POR. JPMorgan Chase & Co. increased their target price on Portland General Electric from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Loop Capital set a $48.00 price target on shares of Portland General Electric in a research report on Tuesday, December 30th. BTIG Research reissued a “buy” rating and set a $58.00 price objective on shares of Portland General Electric in a research note on Friday, January 30th. LADENBURG THALM/SH SH restated a “sell” rating and set a $43.00 price objective on shares of Portland General Electric in a report on Thursday, December 4th. Finally, Barclays increased their target price on shares of Portland General Electric from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Portland General Electric has an average rating of “Hold” and an average target price of $48.42.

Portland General Electric Trading Up 0.8%

POR opened at $51.66 on Thursday. The stock has a market capitalization of $5.81 billion, a P/E ratio of 18.78, a P/E/G ratio of 4.49 and a beta of 0.67. The company has a current ratio of 1.08, a quick ratio of 0.95 and a debt-to-equity ratio of 1.25. Portland General Electric Company has a 12 month low of $39.54 and a 12 month high of $51.71. The firm’s fifty day simple moving average is $49.10 and its 200 day simple moving average is $46.21.

Portland General Electric Profile

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.