Brett Michael Sims Sells 2,050 Shares of Portland General Electric (NYSE:POR) Stock

Portland General Electric (NYSE:POR – Get Rating) VP Brett Michael Sims sold 2,050 shares of Portland General Electric stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $47.00, for a total value of $96,350.00. Following the completion of the transaction, the vice president now owns 10,978 shares of the company’s stock, valued at approximately $515,966. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Portland General Electric Price Performance

POR stock opened at $46.07 on Tuesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.81 and a quick ratio of 0.75. The business has a 50 day simple moving average of $47.83 and a 200-day simple moving average of $47.66. The firm has a market capitalization of $4.12 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 3.46 and a beta of 0.56. Portland General Electric has a 1 year low of $41.58 and a 1 year high of $57.03.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Monday, March 27th will be given a $0.4525 dividend. The ex-dividend date is Friday, March 24th. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.45. This represents a $1.81 dividend on an annualized basis and a dividend yield of 3.93%. Portland General Electric’s dividend payout ratio is 69.62%.

Institutional Investors Weigh In On Portland General Electric

A number of large investors have recently made changes to their positions in POR. American Century Companies Inc. grew its position in shares of Portland General Electric by 17.4% in the first quarter. American Century Companies Inc. now owns 14,034 shares of the utilities provider’s stock valued at $774,000 after purchasing an additional 2,083 shares in the last quarter. Citigroup Inc. lifted its holdings in Portland General Electric by 58.9% in the first quarter. Citigroup Inc. now owns 46,899 shares of the utilities provider’s stock valued at $2,586,000 after acquiring an additional 17,386 shares during the last quarter. Bank of Montreal Can acquired a new position in Portland General Electric in the first quarter valued at approximately $239,000. Acadian Asset Management LLC acquired a new position in Portland General Electric in the first quarter valued at approximately $460,000. Finally, MetLife Investment Management LLC lifted its holdings in Portland General Electric by 55.0% in the first quarter. MetLife Investment Management LLC now owns 47,232 shares of the utilities provider’s stock valued at $2,605,000 after acquiring an additional 16,750 shares during the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

POR has been the subject of several recent analyst reports. Credit Suisse Group lifted their price target on Portland General Electric from $48.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, February 21st. Wells Fargo & Company boosted their price objective 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. Finally, StockNews.com lowered Portland General Electric from a “buy” rating to a “hold” rating in a research note on Wednesday, February 1st. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $50.00.

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.