Principal Financial Group Inc. Purchases 26,754 Shares of Portland General Electric Company $POR

Principal Financial Group Inc. lifted its position in shares of Portland General Electric Company (NYSE:POR) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 412,780 shares of the utilities provider’s stock after purchasing an additional 26,754 shares during the quarter. Principal Financial Group Inc.’s holdings in Portland General Electric were worth $21,394,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Bank & Trust Co raised its stake in shares of Portland General Electric by 2.0% in the second quarter. Bank & Trust Co now owns 10,115 shares of the utilities provider’s stock valued at $524,000 after purchasing an additional 198 shares in the last quarter. Natixis Advisors LLC lifted its position in Portland General Electric by 0.6% in the fourth quarter. Natixis Advisors LLC now owns 35,548 shares of the utilities provider’s stock worth $1,706,000 after purchasing an additional 207 shares during the period. Sigma Planning Corp boosted its stake in Portland General Electric by 3.9% during the fourth quarter. Sigma Planning Corp now owns 5,663 shares of the utilities provider’s stock worth $272,000 after buying an additional 210 shares in the last quarter. First Citizens Bank & Trust Co. boosted its stake in Portland General Electric by 2.0% during the first quarter. First Citizens Bank & Trust Co. now owns 10,997 shares of the utilities provider’s stock worth $580,000 after buying an additional 218 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Portland General Electric by 18.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,469 shares of the utilities provider’s stock worth $71,000 after buying an additional 226 shares in the last quarter.

Insiders Place Their Bets

In other Portland General Electric news, Director Michael A. Lewis sold 1,537 shares of Portland General Electric stock in a transaction on 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 owned 15,045 shares in the company, valued at approximately $779,782.35. The trade was a 9.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.52% of the stock is owned by corporate insiders.

Portland General Electric Price Performance

Shares of Portland General Electric stock opened at $50.74 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of 22.35, a P/E/G ratio of 2.17 and a beta of 0.52. Portland General Electric Company has a 1-year low of $41.80 and a 1-year high of $54.62. The firm’s 50-day moving average price is $51.08 and its two-hundred day moving average price is $51.32.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.01). Portland General Electric had a return on equity of 7.47% and a net margin of 7.27%.The firm had revenue of $814.00 million for the quarter, compared to analyst estimates of $839.75 million. During the same period in the previous year, the business posted $0.66 EPS. The business’s quarterly revenue was up .9% on a year-over-year basis. On average, equities analysts predict that Portland General Electric Company will post 3.4 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, September 25th will be issued a dividend of $0.5513 per share. This represents a $2.21 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Friday, September 25th. Portland General Electric’s dividend payout ratio (DPR) is currently 96.92%.

Analysts Set New Price Targets

POR has been the subject of a number of recent research reports. Wells Fargo & Company set a $51.00 price objective on shares of Portland General Electric in a research note on Tuesday, April 21st. LADENBURG THALM/SH SH raised shares of Portland General Electric from a “neutral” rating to a “buy” rating and set a $48.50 price objective for the company in a report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Portland General Electric from $51.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. BMO Capital Markets set a $52.00 target price on shares of Portland General Electric in a research note on Tuesday, August 4th. Finally, Weiss Ratings raised shares of Portland General Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $51.25.

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.