Granite Investment Partners LLC Decreases Holdings in Portland General Electric (NYSE:POR)

Granite Investment Partners LLC cut its stake in shares of Portland General Electric (NYSE:POR – Get Rating) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 357,695 shares of the utilities provider’s stock after selling 3,759 shares during the period. Granite Investment Partners LLC owned approximately 0.40% of Portland General Electric worth $17,527,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Bessemer Group Inc. grew its stake in Portland General Electric by 308.8% in the 3rd quarter. Bessemer Group Inc. now owns 834 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 630 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Portland General Electric by 475.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 995 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 822 shares during the period. Ronald Blue Trust Inc. lifted its holdings in Portland General Electric by 78.6% in the fourth quarter. Ronald Blue Trust Inc. now owns 1,547 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 681 shares during the period. CI Investments Inc. raised its holdings in Portland General Electric by 54.6% during the 4th quarter. CI Investments Inc. now owns 1,435 shares of the utilities provider’s stock worth $70,000 after buying an additional 507 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in shares of Portland General Electric by 145.2% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,908 shares of the utilities provider’s stock valued at $83,000 after purchasing an additional 1,130 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on POR. JPMorgan Chase & Co. started coverage on Portland General Electric in a research report on Monday, May 8th. They set an “overweight” rating and a $56.00 target price for the company. StockNews.com assumed coverage on Portland General Electric in a report on Thursday, May 18th. They set a “hold” rating on the stock. Credit Suisse Group lifted their target price on Portland General Electric from $48.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, February 21st. Bank of America raised Portland General Electric from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $47.00 to $52.00 in a research report on Tuesday, March 14th. Finally, Wells Fargo & Company lifted their target price on Portland General Electric from $52.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Friday, February 17th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $50.75.

Insider Transactions at Portland General Electric

In other Portland General Electric news, VP Brett Michael Sims sold 2,050 shares of the firm’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $47.00, for a total value of $96,350.00. Following the completion of the sale, the vice president now directly owns 10,978 shares of the company’s stock, valued at $515,966. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP John Teeruk Kochavatr sold 3,000 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $51.12, for a total value of $153,360.00. Following the completion of the transaction, the vice president now directly owns 15,489 shares of the company’s stock, valued at $791,797.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brett Michael Sims sold 2,050 shares of Portland General Electric stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $47.00, for a total value of $96,350.00. Following the sale, the vice president now directly owns 10,978 shares of the company’s stock, valued at approximately $515,966. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.

Portland General Electric Stock Down 0.6 %

NYSE:POR traded down $0.28 on Friday, hitting $48.23. The stock had a trading volume of 122,951 shares, compared to its average volume of 764,256. The business’s fifty day moving average is $49.67 and its 200 day moving average is $48.50. The company has a market cap of $4.66 billion, a PE ratio of 17.77, a P/E/G ratio of 3.01 and a beta of 0.58. The company has a quick ratio of 0.89, a current ratio of 1.02 and a debt-to-equity ratio of 1.21. Portland General Electric has a 52 week low of $41.58 and a 52 week high of $56.37.

Portland General Electric (NYSE:POR – Get Rating) last issued its quarterly earnings data on Friday, April 28th. The utilities provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.79 by $0.01. The firm had revenue of $748.00 million during the quarter, compared to the consensus estimate of $622.50 million. Portland General Electric had a return on equity of 9.06% and a net margin of 8.88%. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.67 earnings per share. On average, equities research analysts expect that Portland General Electric will post 2.68 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Monday, June 26th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Friday, June 23rd. This is an increase from Portland General Electric’s previous quarterly dividend of $0.45. This represents a $1.90 annualized dividend and a dividend yield of 3.94%. Portland General Electric’s dividend payout ratio is 66.30%.

About Portland General Electric

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Portland General Electric Co engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. The firm also sells electricity and natural gas in the wholesale market to utilities, brokers, and power marketers. It also serves residential, commercial and non-residential customers.