Geode Capital Management LLC Increases Stake in Portland General Electric Company $POR

Key Points

• Geode Capital Management increased its stake in Portland General Electric by 2.7% in the fourth quarter, bringing its holdings to 2.81 million shares valued at about $134.7 million.
• The company reported mixed quarterly results: EPS of $0.58 missed estimates of $0.77, and revenue of $879 million also came in below expectations. Revenue fell 5.3% year over year.
• Portland General Electric raised its quarterly dividend to $0.5513 per share, or $2.21 annualized, for a yield of about 4.4%.

Geode Capital Management LLC lifted its stake in shares of Portland General Electric Company (NYSE:POR - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,805,796 shares of the utilities provider's stock after acquiring an additional 73,185 shares during the period. Geode Capital Management LLC owned 2.49% of Portland General Electric worth $134,680,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Channing Capital Management LLC lifted its holdings in shares of Portland General Electric by 39.1% during the 3rd quarter. Channing Capital Management LLC now owns 1,509,269 shares of the utilities provider's stock worth $66,408,000 after acquiring an additional 424,622 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Portland General Electric during the 4th quarter worth about $3,662,000. GSA Capital Partners LLP lifted its holdings in shares of Portland General Electric by 683.5% during the 4th quarter. GSA Capital Partners LLP now owns 43,282 shares of the utilities provider's stock worth $2,077,000 after acquiring an additional 37,758 shares during the period. CWA Asset Management Group LLC lifted its holdings in shares of Portland General Electric by 228.9% during the 4th quarter. CWA Asset Management Group LLC now owns 68,462 shares of the utilities provider's stock worth $3,285,000 after acquiring an additional 47,644 shares during the period. Finally, LSV Asset Management lifted its holdings in shares of Portland General Electric by 9.7% during the 3rd quarter. LSV Asset Management now owns 595,747 shares of the utilities provider's stock worth $26,213,000 after acquiring an additional 52,700 shares during the period.

Portland General Electric Trading Up 1.6%

NYSE POR opened at $49.68 on Friday. Portland General Electric Company has a one year low of $39.54 and a one year high of $54.62. The company's 50 day moving average price is $50.85 and its 200 day moving average price is $50.55. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.95 and a current ratio of 1.09. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 2.05 and a beta of 0.52.

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

Portland General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, June 25th will be issued a $0.5513 dividend. The ex-dividend date is Thursday, June 25th. This is a positive change from Portland General Electric's previous quarterly dividend of $0.53. This represents a $2.21 annualized dividend and a yield of 4.4%. Portland General Electric's payout ratio is 93.75%.

Insider Buying and Selling at Portland General Electric

In other news, Director Robert N. Hoglund acquired 2,000 shares of the stock in a transaction on Monday, May 11th. The stock was bought at an average price of $48.80 per share, with a total value of $97,600.00. Following the completion of the transaction, the director directly owned 2,519 shares of the company's stock, valued at $122,927.20. The trade was a 385.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Juan Diego Gallegos sold 2,750 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president directly owned 12,127 shares of the company's stock, valued at $590,221.09. This trade represents a 18.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.52% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. BMO Capital Markets reiterated a "market perform" rating and set a $55.00 price objective on shares of Portland General Electric in a report on Thursday, February 19th. JPMorgan Chase & Co. increased their price objective on shares of Portland General Electric from $51.00 to $54.00 and gave the stock a "neutral" rating in a report on Monday, April 20th. Wells Fargo & Company set a $51.00 price target on shares of Portland General Electric in a report on Tuesday, April 21st. UBS Group raised their price target on shares of Portland General Electric from $53.00 to $55.00 and gave the company a "neutral" rating in a report on Thursday, February 19th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Portland General Electric in a report on Friday, May 15th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Portland General Electric currently has a consensus rating of "Hold" and an average price target of $51.00.

Portland General Electric 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.

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