Massmutual Trust Co. FSB ADV trimmed its holdings in Portland General Electric (NYSE:POR – Get Rating) by 21.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,534 shares of the utilities provider’s stock after selling 1,245 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Portland General Electric were worth $222,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of POR. American Century Companies Inc. lifted its stake in Portland General Electric by 17.4% in the 1st quarter. American Century Companies Inc. now owns 14,034 shares of the utilities provider’s stock worth $774,000 after purchasing an additional 2,083 shares in the last quarter. Citigroup Inc. lifted its stake in Portland General Electric by 58.9% in the 1st quarter. Citigroup Inc. now owns 46,899 shares of the utilities provider’s stock worth $2,586,000 after purchasing an additional 17,386 shares in the last quarter. Bank of Montreal Can purchased a new position in Portland General Electric in the 1st quarter worth approximately $239,000. Acadian Asset Management LLC purchased a new position in Portland General Electric in the 1st quarter worth approximately $460,000. Finally, MetLife Investment Management LLC lifted its stake in Portland General Electric by 55.0% in the 1st quarter. MetLife Investment Management LLC now owns 47,232 shares of the utilities provider’s stock worth $2,605,000 after purchasing an additional 16,750 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts have weighed in on the stock. Bank of America raised shares of Portland General Electric from a “neutral” rating to a “buy” rating and raised their target price for the stock from $47.00 to $52.00 in a research note on Tuesday, March 14th. StockNews.com assumed coverage on shares of Portland General Electric in a research report on Thursday. They set a “hold” rating on the stock. Credit Suisse Group lifted their price target 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 lifted their price target on shares of Portland General Electric from $52.00 to $53.00 and gave the company an “equal weight” rating in a research report on Friday, February 17th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $50.00.
Portland General Electric Stock Down 1.6 %
Portland General Electric Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Monday, March 27th will be issued a $0.4525 dividend. This represents a $1.81 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Friday, March 24th. This is an increase from Portland General Electric’s previous quarterly dividend of $0.45. Portland General Electric’s dividend payout ratio (DPR) is 69.62%.
Insider Activity at Portland General Electric
In related news, VP Brett Michael Sims sold 2,050 shares of Portland General Electric stock in a transaction that occurred on 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 sale, the vice president now owns 10,978 shares in the company, valued at approximately $515,966. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.51% of the stock is owned by insiders.
Portland General Electric Profile
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.
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