Portland General Electric (NYSE:POR) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Portland General Electric (NYSE:PORGet Rating) by 17.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,312 shares of the utilities provider’s stock after selling 1,767 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Portland General Electric were worth $402,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Russell Investments Group Ltd. raised its stake in Portland General Electric by 10.5% during the second quarter. Russell Investments Group Ltd. now owns 253,550 shares of the utilities provider’s stock worth $12,249,000 after acquiring an additional 24,036 shares during the period. Park Avenue Securities LLC lifted its holdings in shares of Portland General Electric by 20.8% in the 2nd quarter. Park Avenue Securities LLC now owns 9,437 shares of the utilities provider’s stock worth $456,000 after purchasing an additional 1,624 shares during the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Portland General Electric in the 2nd quarter worth approximately $56,000. IndexIQ Advisors LLC acquired a new position in Portland General Electric during the 1st quarter valued at approximately $410,000. Finally, Texas Permanent School Fund bought a new position in Portland General Electric during the 2nd quarter worth $3,117,000. 99.67% of the stock is currently owned by institutional investors.

Portland General Electric Price Performance

Shares of NYSE:POR opened at $47.39 on Tuesday. Portland General Electric has a 12 month low of $41.58 and a 12 month high of $57.03. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 3.10 and a beta of 0.57. The stock’s 50 day moving average price is $45.79 and its 200 day moving average price is $48.56. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.76 and a quick ratio of 0.67.

Portland General Electric (NYSE:PORGet Rating) last announced its earnings results on Tuesday, October 25th. The utilities provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.64 by $0.01. Portland General Electric had a return on equity of 9.09% and a net margin of 9.66%. The firm had revenue of $743.00 million for the quarter, compared to analysts’ expectations of $636.61 million. During the same quarter in the previous year, the company earned $0.56 earnings per share. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. Equities research analysts anticipate that Portland General Electric will post 2.84 earnings per share for the current fiscal year.

Portland General Electric Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Tuesday, December 27th will be given a $0.452 dividend. The ex-dividend date is Friday, December 23rd. This represents a $1.81 annualized dividend and a yield of 3.82%. Portland General Electric’s dividend payout ratio (DPR) is 65.34%.

Analyst Ratings Changes

Several equities analysts have recently commented on POR shares. Credit Suisse Group upgraded shares of Portland General Electric from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $43.00 to $46.00 in a research report on Wednesday, October 26th. TheStreet cut Portland General Electric from a “b” rating to a “c+” rating in a report on Wednesday, October 26th. Bank of America cut Portland General Electric from a “buy” rating to a “neutral” rating and set a $52.00 price target on the stock. in a report on Monday, August 1st. Mizuho cut their price target on Portland General Electric from $51.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, October 7th. Finally, StockNews.com cut Portland General Electric from a “buy” rating to a “hold” rating in a report on Monday. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Portland General Electric presently has an average rating of “Hold” and an average price target of $48.57.

About Portland General Electric

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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. It operates six thermal plants, three wind farms, and seven hydroelectric facilities. As of December 31, 2021, the company owned an electric transmission system consisting of 1,274 circuit miles, including 287 circuit miles of 500 kilovolt line, 415 circuit miles of 230 kilovolt line, and 572 miles of 115 kilovolt line.

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

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