Insider Selling: Portland General Electric (NYSE:POR) Director Sells $79,662.71 in Stock

Portland General Electric Company (NYSE:POR) Director Michael Lewis sold 1,537 shares of Portland General Electric stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $51.83, for a total value of $79,662.71. Following the completion of the transaction, the director directly owned 15,045 shares in the company, valued at $779,782.35. This represents a 9.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Portland General Electric Price Performance

POR stock opened at $50.14 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.95 and a debt-to-equity ratio of 1.19. Portland General Electric Company has a one year low of $40.81 and a one year high of $54.62. The firm has a market capitalization of $5.80 billion, a PE ratio of 22.38, a P/E/G ratio of 2.17 and a beta of 0.52. The firm has a 50-day moving average of $51.19 and a two-hundred day moving average of $51.34.

Portland General Electric (NYSE:POR) last announced its earnings results on Thursday, April 30th. The utilities provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.19). The firm had revenue of $879.00 million during the quarter, compared to analyst estimates of $953.24 million. Portland General Electric had a return on equity of 7.57% and a net margin of 7.12%.The business’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 earnings per share. On average, analysts forecast that Portland General Electric Company will post 3.38 earnings per share for the current year.

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, September 25th will be given a $0.5513 dividend. This represents a $2.21 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Friday, September 25th. Portland General Electric’s dividend payout ratio is 98.21%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new stake in shares of Portland General Electric during the 4th quarter valued at $25,000. Private Trust Co. NA boosted its position in Portland General Electric by 76.4% during the fourth quarter. Private Trust Co. NA now owns 552 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 239 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in Portland General Electric during the third quarter valued at $27,000. Rothschild Investment LLC grew its stake in Portland General Electric by 112.9% in the fourth quarter. Rothschild Investment LLC now owns 611 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 324 shares in the last quarter. Finally, SHP Wealth Management acquired a new position in Portland General Electric in the 4th quarter worth about $34,000.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on POR shares. JPMorgan Chase & Co. lifted their price objective on shares of Portland General Electric from $51.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Zacks Research lowered Portland General Electric from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. Wells Fargo & Company set a $51.00 target price on Portland General Electric in a research report on Tuesday, April 21st. BMO Capital Markets lowered their price target on Portland General Electric from $55.00 to $54.00 and set a “market perform” rating on the stock in a report on Wednesday, July 22nd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Portland General Electric in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $50.90.

Portland General Electric Company Profile

Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon’s largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.