Insider Selling: Portland General Electric Company (POR) Insider Sells $270,600.00 in Stock

Portland General Electric Company (NYSE:POR) insider William O. Nicholson sold 6,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $45.10, for a total transaction of $270,600.00. Following the sale, the insider now directly owns 16,313 shares of the company’s stock, valued at approximately $735,716.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Portland General Electric Company (NYSE:POR) traded up 0.36% during mid-day trading on Friday, reaching $45.23. 159,977 shares of the company traded hands. Portland General Electric Company has a 52-week low of $39.82 and a 52-week high of $46.87. The company has a market capitalization of $4.03 billion, a P/E ratio of 19.67 and a beta of 0.31. The firm’s 50 day moving average price is $45.24 and its 200-day moving average price is $43.86.

Portland General Electric Company (NYSE:POR) last released its quarterly earnings results on Friday, April 28th. The utilities provider reported $0.82 EPS for the quarter, hitting the consensus estimate of $0.82. The firm had revenue of $530 million for the quarter, compared to analyst estimates of $521.97 million. Portland General Electric Company had a return on equity of 7.99% and a net margin of 9.64%. Portland General Electric Company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 EPS. Equities analysts predict that Portland General Electric Company will post $2.26 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Monday, June 26th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.02%. This is a positive change from Portland General Electric Company’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, June 22nd. Portland General Electric Company’s dividend payout ratio is presently 62.44%.

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Institutional investors have recently made changes to their positions in the stock. Northern Trust Corp raised its position in shares of Portland General Electric Company by 2.4% in the third quarter. Northern Trust Corp now owns 1,892,623 shares of the utilities provider’s stock worth $80,606,000 after buying an additional 44,079 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Portland General Electric Company by 2.4% in the fourth quarter. Bessemer Group Inc. now owns 60,400 shares of the utilities provider’s stock worth $2,617,000 after buying an additional 1,400 shares during the last quarter. BlackRock Advisors LLC raised its position in shares of Portland General Electric Company by 5.0% in the third quarter. BlackRock Advisors LLC now owns 46,044 shares of the utilities provider’s stock worth $1,961,000 after buying an additional 2,208 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in shares of Portland General Electric Company by 7.2% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,578,156 shares of the utilities provider’s stock worth $68,381,000 after buying an additional 105,588 shares during the last quarter. Finally, Foundry Partners LLC raised its position in shares of Portland General Electric Company by 3.3% in the first quarter. Foundry Partners LLC now owns 256,522 shares of the utilities provider’s stock worth $11,395,000 after buying an additional 8,168 shares during the last quarter. 94.37% of the stock is currently owned by institutional investors.

A number of equities research analysts recently issued reports on POR shares. Barclays PLC upped their price objective on shares of Portland General Electric Company from $39.00 to $41.00 and gave the company a “sell” rating in a report on Friday, January 20th. Wolfe Research cut shares of Portland General Electric Company from a “market perform” rating to an “underperform” rating in a research report on Tuesday, February 21st. Finally, Zacks Investment Research raised shares of Portland General Electric Company from a “sell” rating to a “hold” rating in a research report on Saturday, March 11th. Five research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Portland General Electric Company presently has an average rating of “Sell” and a consensus price target of $43.17.

About Portland General Electric Company

Portland General Electric Company is an electric utility that is engaged in the wholesale purchase, transmission, distribution and retail sale of electricity in the State of Oregon. Its service area allocation of approximately 4,000 square miles is located entirely within Oregon and includes approximately 51 incorporated cities, of which Portland and Salem.

5 Day Chart for NYSE:POR

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