Insider Selling: Portland General Electric (POR) VP Sells 432 Shares of Stock

Portland General Electric (NYSE:POR) VP Bradley Young Jenkins sold 432 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $53.35, for a total value of $23,047.20. Following the completion of the sale, the vice president now directly owns 4,447 shares in the company, valued at approximately $237,247.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Portland General Electric stock traded up $0.09 during mid-day trading on Wednesday, hitting $53.36. 3,535 shares of the company’s stock traded hands, compared to its average volume of 460,435. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.82 and a quick ratio of 0.70. The company has a market capitalization of $4.76 billion, a P/E ratio of 22.51, a PEG ratio of 4.49 and a beta of 0.26. Portland General Electric has a one year low of $39.60 and a one year high of $53.77.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, April 26th. The utilities provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.06. The firm had revenue of $573.00 million for the quarter, compared to the consensus estimate of $520.05 million. Portland General Electric had a return on equity of 8.84% and a net margin of 10.67%. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. On average, research analysts expect that Portland General Electric will post 2.45 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, June 25th will be paid a dividend of $0.385 per share. The ex-dividend date of this dividend is Monday, June 24th. This represents a $1.54 annualized dividend and a yield of 2.89%. This is an increase from Portland General Electric’s previous quarterly dividend of $0.36. Portland General Electric’s payout ratio is presently 61.18%.

Institutional investors have recently made changes to their positions in the business. First Mercantile Trust Co. grew its holdings in shares of Portland General Electric by 4.5% in the 4th quarter. First Mercantile Trust Co. now owns 5,182 shares of the utilities provider’s stock worth $237,000 after acquiring an additional 222 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Portland General Electric by 0.3% during the first quarter. Citigroup Inc. now owns 70,167 shares of the utilities provider’s stock valued at $3,637,000 after buying an additional 226 shares in the last quarter. NewSquare Capital LLC grew its holdings in shares of Portland General Electric by 5.5% during the first quarter. NewSquare Capital LLC now owns 5,360 shares of the utilities provider’s stock valued at $278,000 after buying an additional 280 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Portland General Electric by 1.6% during the fourth quarter. Advisors Asset Management Inc. now owns 17,648 shares of the utilities provider’s stock valued at $809,000 after buying an additional 281 shares in the last quarter. Finally, Suntrust Banks Inc. grew its holdings in shares of Portland General Electric by 0.7% during the fourth quarter. Suntrust Banks Inc. now owns 56,518 shares of the utilities provider’s stock valued at $2,591,000 after buying an additional 383 shares in the last quarter. 96.47% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on POR shares. Zacks Investment Research raised Portland General Electric from a “hold” rating to a “strong-buy” rating and set a $53.00 price target on the stock in a report on Friday, January 25th. Mizuho downgraded Portland General Electric from a “buy” rating to a “neutral” rating and raised their price target for the stock from $50.00 to $52.00 in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $47.67.

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Portland General Electric Company Profile

Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. The company operates seven thermal plants; seven hydroelectric plants; and two wind farms. As of December 31, 2018, it owned an electric transmission system consisting of 1,256 circuit miles, including 287 circuit miles of 500 kilovolt line, 410 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.

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