Fox Run Management L.L.C. Invests $1.89 Million in Portland General Electric Company $POR

Key Points

• Fox Run Management disclosed a new fourth-quarter position in Portland General Electric, buying 39,272 shares worth about $1.89 million.
• Portland General Electric reported weaker-than-expected Q1 earnings, with EPS of $0.58 versus the $0.77 estimate and revenue of $879 million below forecasts.
• The company raised its quarterly dividend to $0.5513 per share, implying an annualized payout of $2.21 and a 4.4% yield.

Fox Run Management L.L.C. acquired a new position in Portland General Electric Company (NYSE:POR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 39,272 shares of the utilities provider's stock, valued at approximately $1,885,000.

A number of other hedge funds have also recently made changes to their positions in the business. Cerity Partners LLC lifted its holdings in shares of Portland General Electric by 8.3% in the 4th quarter. Cerity Partners LLC now owns 138,427 shares of the utilities provider's stock worth $6,643,000 after acquiring an additional 10,626 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of Portland General Electric by 9.0% in the 4th quarter. LPL Financial LLC now owns 80,588 shares of the utilities provider's stock worth $3,867,000 after acquiring an additional 6,652 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Portland General Electric by 27.0% in the 4th quarter. Franklin Resources Inc. now owns 287,186 shares of the utilities provider's stock worth $13,782,000 after acquiring an additional 61,047 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Portland General Electric by 1,342.7% in the 4th quarter. Clearbridge Investments LLC now owns 4,643,134 shares of the utilities provider's stock worth $222,824,000 after acquiring an additional 4,321,305 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Portland General Electric in the 4th quarter worth approximately $126,000.

Wall Street Analyst Weigh In

POR has been the topic of several analyst reports. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Portland General Electric in a research note on Friday, May 15th. Barclays lifted their target price on shares of Portland General Electric from $47.00 to $53.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 17th. JPMorgan Chase & Co. lifted their target price on shares of Portland General Electric from $51.00 to $54.00 and gave the stock a "neutral" rating in a research note on Monday, April 20th. UBS Group lifted their target price on shares of Portland General Electric from $53.00 to $55.00 and gave the stock a "neutral" rating in a research note on Thursday, February 19th. Finally, Wells Fargo & Company set a $51.00 target price on shares of Portland General Electric in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $51.00.

Portland General Electric Stock Down 1.1%

Shares of NYSE POR opened at $49.99 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.09 and a debt-to-equity ratio of 1.19. Portland General Electric Company has a 52 week low of $39.54 and a 52 week high of $54.62. The firm's fifty day moving average is $50.80 and its 200 day moving average is $50.57. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 2.12 and a beta of 0.52.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.19). The company had revenue of $879.00 million for the quarter, compared to analysts' expectations of $953.24 million. Portland General Electric had a net margin of 7.12% and a return on equity of 7.57%. The firm's revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 earnings per share. On average, equities research analysts expect that Portland General Electric Company will post 3.39 earnings per share for the current year.

Portland General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, June 25th will be given a dividend of $0.5513 per share. This represents a $2.21 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Thursday, June 25th. This is an increase from Portland General Electric's previous quarterly dividend of $0.53. Portland General Electric's payout ratio is presently 98.21%.

Insider Buying and Selling at Portland General Electric

In related news, Director Robert N. Hoglund acquired 2,000 shares of Portland General Electric stock in a transaction on Monday, May 11th. The shares were acquired at an average cost of $48.80 per share, with a total value of $97,600.00. Following the transaction, the director owned 2,519 shares in the company, valued at $122,927.20. This trade represents a 385.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Juan Diego Gallegos sold 2,750 shares of the business's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $48.67, for a total transaction of $133,842.50. Following the transaction, the vice president directly owned 12,127 shares in the company, valued at approximately $590,221.09. The trade was a 18.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.52% of the company's stock.

About Portland General Electric

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.

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