Shell Asset Management Co. Sells 1,425 Shares of Portland General Electric (NYSE:POR)

Shell Asset Management Co. decreased its position in Portland General Electric (NYSE:POR – Get Rating) by 16.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,023 shares of the utilities provider’s stock after selling 1,425 shares during the quarter. Shell Asset Management Co.’s holdings in Portland General Electric were worth $344,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in POR. BlackRock Inc. boosted its position in Portland General Electric by 2.9% in the third quarter. BlackRock Inc. now owns 12,331,100 shares of the utilities provider’s stock valued at $535,908,000 after buying an additional 348,610 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Portland General Electric by 8.1% in the 3rd quarter. Vanguard Group Inc. now owns 11,268,761 shares of the utilities provider’s stock worth $489,739,000 after acquiring an additional 848,958 shares in the last quarter. Wellington Management Group LLP grew its position in Portland General Electric by 21.8% during the 1st quarter. Wellington Management Group LLP now owns 6,067,961 shares of the utilities provider’s stock worth $334,647,000 after acquiring an additional 1,087,996 shares during the last quarter. State Street Corp grew its position in Portland General Electric by 1.4% during the 3rd quarter. State Street Corp now owns 3,386,966 shares of the utilities provider’s stock worth $148,730,000 after acquiring an additional 47,399 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Portland General Electric by 2.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,708,262 shares of the utilities provider’s stock valued at $74,242,000 after purchasing an additional 43,033 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insider Buying and Selling

In other Portland General Electric news, VP Brett Michael Sims sold 2,050 shares of the firm’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $47.00, for a total transaction of $96,350.00. Following the transaction, the vice president now owns 10,978 shares in the company, valued at $515,966. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.51% of the stock is owned by insiders.

Portland General Electric Stock Performance

Shares of NYSE:POR opened at $51.35 on Monday. The company has a current ratio of 1.02, a quick ratio of 0.89 and a debt-to-equity ratio of 1.21. Portland General Electric has a 1-year low of $41.58 and a 1-year high of $56.37. The stock has a market capitalization of $4.96 billion, a P/E ratio of 18.81, a P/E/G ratio of 3.13 and a beta of 0.58. The business has a 50-day moving average price of $48.88 and a two-hundred day moving average price of $48.01.

Portland General Electric (NYSE:POR – Get Rating) last posted its quarterly earnings results on Thursday, February 16th. The utilities provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.11. Portland General Electric had a net margin of 8.88% and a return on equity of 9.06%. The business had revenue of $687.00 million during the quarter, compared to the consensus estimate of $624.60 million. Equities analysts predict that Portland General Electric will post 2.7 earnings per share for the current year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Monday, June 26th will be given a $0.475 dividend. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.45. This represents a $1.90 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend is Friday, June 23rd. Portland General Electric’s dividend payout ratio (DPR) is currently 66.30%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on POR. StockNews.com assumed coverage on Portland General Electric in a report on Thursday, March 16th. They set a “hold” rating on the stock. Bank of America raised shares of Portland General Electric from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $47.00 to $52.00 in a report on Tuesday, March 14th. Credit Suisse Group raised their price objective on shares of Portland General Electric from $48.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, February 21st. Finally, Wells Fargo & Company upped their target price on shares of Portland General Electric from $52.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Friday, February 17th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Portland General Electric has a consensus rating of “Hold” and a consensus price target of $50.00.

Portland General Electric Company Profile

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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.