Meeder Asset Management Inc. Sells 3,983 Shares of Portland General Electric Company (POR)

Meeder Asset Management Inc. lowered its stake in Portland General Electric Company (NYSE:POR) by 19.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,519 shares of the utilities provider’s stock after selling 3,983 shares during the period. Meeder Asset Management Inc.’s holdings in Portland General Electric were worth $754,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Personal Capital Advisors Corp raised its position in Portland General Electric by 9.0% in the first quarter. Personal Capital Advisors Corp now owns 234,541 shares of the utilities provider’s stock valued at $10,482,000 after buying an additional 19,389 shares in the last quarter. Dalton Greiner Hartman Maher & Co. raised its position in Portland General Electric by 42.6% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 302,212 shares of the utilities provider’s stock valued at $13,424,000 after buying an additional 90,282 shares in the last quarter. West Coast Financial LLC raised its position in Portland General Electric by 1.4% in the first quarter. West Coast Financial LLC now owns 80,750 shares of the utilities provider’s stock valued at $3,587,000 after buying an additional 1,077 shares in the last quarter. Boston Advisors LLC raised its position in Portland General Electric by 735.1% in the first quarter. Boston Advisors LLC now owns 101,505 shares of the utilities provider’s stock valued at $4,509,000 after buying an additional 89,350 shares in the last quarter. Finally, Alpha Windward LLC raised its position in Portland General Electric by 1.1% in the first quarter. Alpha Windward LLC now owns 11,220 shares of the utilities provider’s stock valued at $498,000 after buying an additional 120 shares in the last quarter. Institutional investors and hedge funds own 95.15% of the company’s stock.

Shares of Portland General Electric Company (POR) opened at 45.46 on Friday. The company’s 50 day moving average price is $45.77 and its 200-day moving average price is $45.16. Portland General Electric Company has a 12 month low of $40.28 and a 12 month high of $48.06. The firm has a market capitalization of $4.05 billion, a P/E ratio of 20.29 and a beta of 0.29.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, July 28th. The utilities provider reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.08. Portland General Electric had a return on equity of 8.48% and a net margin of 10.06%. The business had revenue of $449 million for the quarter, compared to analysts’ expectations of $465.70 million. During the same quarter last year, the company posted $0.42 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts predict that Portland General Electric Company will post $2.22 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 25th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, September 22nd. This represents a $1.36 annualized dividend and a yield of 2.99%. Portland General Electric’s dividend payout ratio is presently 60.71%.

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Several research firms have recently commented on POR. BidaskClub lowered Portland General Electric from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Williams Capital lowered Portland General Electric from a “hold” rating to a “sell” rating and reduced their price target for the stock from $44.00 to $41.00 in a report on Monday, July 24th. Barclays PLC reiterated an “underweight” rating and set a $44.00 price target (up previously from $41.00) on shares of Portland General Electric in a report on Sunday, April 23rd. Zacks Investment Research raised Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, May 23rd. Finally, UBS AG downgraded Portland General Electric from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 2nd. Five equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company has a consensus rating of “Sell” and an average target price of $42.00.

In other Portland General Electric news, insider William O. Nicholson sold 6,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $45.10, for a total transaction of $270,600.00. Following the completion of the sale, the insider now directly owns 16,313 shares in the company, valued at $735,716.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Campbell A. Henderson sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $45.01, for a total value of $135,030.00. Following the sale, the vice president now owns 20,424 shares of the company’s stock, valued at $919,284.24. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company’s stock.

Portland General Electric Company Profile

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.