OLD Republic International Corp Buys 67,500 Shares of Portland General Electric Company $POR

OLD Republic International Corp increased its stake in Portland General Electric Company (NYSE:POR) by 10.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 687,500 shares of the utilities provider’s stock after purchasing an additional 67,500 shares during the period. OLD Republic International Corp’s holdings in Portland General Electric were worth $32,993,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of POR. Royal Bank of Canada increased its position in shares of Portland General Electric by 7.4% in the first quarter. Royal Bank of Canada now owns 161,931 shares of the utilities provider’s stock worth $7,222,000 after purchasing an additional 11,141 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Portland General Electric by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,949 shares of the utilities provider’s stock valued at $2,763,000 after buying an additional 2,717 shares in the last quarter. Millennium Management LLC boosted its stake in 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 buying an additional 124,410 shares in the last quarter. United Services Automobile Association acquired a new stake in 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 boosted its stake in Portland General Electric by 6.3% in 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 valued at $10,420,000 after buying an additional 13,799 shares in the last quarter.

Insider Transactions at Portland General Electric

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 stock was sold at an average price of $49.03, for a total transaction of $367,725.00. Following the sale, the chief financial officer directly owned 31,897 shares of the company’s stock, valued at approximately $1,563,909.91. This trade represents a 19.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Benjamin Felton sold 4,969 shares of Portland General Electric stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $53.56, for a total value of $266,139.64. Following the sale, the executive vice president directly owned 41,081 shares in the company, valued at $2,200,298.36. The trade was a 10.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 15,219 shares of company stock valued at $767,707. Company insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Portland General Electric in a research note on Friday, May 15th. UBS Group raised their price objective on Portland General Electric from $53.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. JPMorgan Chase & Co. raised 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. Barclays raised their price objective on Portland General Electric from $47.00 to $53.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 17th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $55.00 price objective on shares of Portland General Electric in a research note on Thursday, February 19th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $51.00.

Portland General Electric Stock Performance

Shares of POR stock opened at $49.81 on Friday. The business’s 50-day moving average price is $51.31 and its 200-day moving average price is $50.47. Portland General Electric Company has a 12 month low of $39.54 and a 12 month high of $54.62. The firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 2.09 and a beta of 0.54. The company has a current ratio of 1.09, a quick ratio of 0.95 and a debt-to-equity ratio of 1.19.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $879.00 million for the quarter, compared to analyst estimates of $953.24 million. During the same period in the previous year, the business posted $0.91 earnings per share. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. Equities research analysts forecast that Portland General Electric Company will post 3.39 EPS for the current year.

Portland General Electric Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Thursday, June 25th. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.53. This represents a $2.21 dividend on an annualized basis and a dividend yield of 4.4%. Portland General Electric’s payout ratio is 93.75%.

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.