Ferguson Wellman Capital Management Inc. Acquires New Position in Portland General Electric Company $POR

Key Points

• Ferguson Wellman Capital Management acquired 28,598 shares of Portland General Electric in the second quarter, valued at approximately $1.48 million. Several other institutional investors also initiated or increased positions.
• Portland General Electric reported quarterly earnings of $0.64 per share, slightly below the $0.65 consensus estimate, while revenue of $814 million also fell short of expectations. Revenue nevertheless increased 0.9% year over year.
• The company declared a quarterly dividend of $0.5513 per share, equivalent to a 4.4% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $51.25, while the stock recently traded at $49.60.

Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Portland General Electric Company (NYSE:POR - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,598 shares of the utilities provider's stock, valued at approximately $1,482,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new position in Portland General Electric during the second quarter worth about $147,000. Cullen Capital Management LLC bought a new stake in shares of Portland General Electric in the second quarter valued at approximately $395,000. Great Lakes Advisors LLC purchased a new stake in shares of Portland General Electric during the 2nd quarter valued at approximately $7,756,000. Citizens Financial Group Inc. RI lifted its stake in shares of Portland General Electric by 29.6% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 6,266 shares of the utilities provider's stock valued at $325,000 after buying an additional 1,432 shares in the last quarter. Finally, Nuance Investments LLC boosted its holdings in Portland General Electric by 113.6% in the 2nd quarter. Nuance Investments LLC now owns 274,376 shares of the utilities provider's stock worth $14,221,000 after buying an additional 145,928 shares during the period.

Insider Buying and Selling

In related news, Director Michael A. Lewis sold 1,537 shares of the business's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $51.83, for a total transaction 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. The trade was a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.52% of the stock is currently owned by insiders.

Portland General Electric Stock Performance

NYSE POR opened at $49.60 on Friday. Portland General Electric Company has a 1 year low of $41.80 and a 1 year high of $54.62. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.98 and a quick ratio of 0.86. The stock has a market capitalization of $5.83 billion, a PE ratio of 21.85, a P/E/G ratio of 2.13 and a beta of 0.52. The company's 50 day simple moving average is $51.04 and its two-hundred day simple moving average is $51.29.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.65 by ($0.01). The firm had revenue of $814.00 million for the quarter, compared to analysts' expectations of $839.75 million. Portland General Electric had a net margin of 7.27% and a return on equity of 7.47%. The firm's revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 earnings per share. Analysts predict that Portland General Electric Company will post 3.4 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, September 25th will be given a dividend of $0.5513 per share. This represents a $2.21 annualized dividend and a yield of 4.4%. The ex-dividend date is Friday, September 25th. Portland General Electric's payout ratio is presently 96.92%.

Analyst Upgrades and Downgrades

POR has been the topic of a number of analyst reports. LADENBURG THALM/SH SH raised shares of Portland General Electric from a "neutral" rating to a "buy" rating and set a $48.50 target price on the stock in a report on Thursday, August 13th. BMO Capital Markets set a $52.00 price target on Portland General Electric in a report on Tuesday, August 4th. Weiss Ratings cut Portland General Electric from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday. Finally, Zacks Research upgraded Portland General Electric from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Two equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, Portland General Electric has a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source