GSA Capital Partners LLP Buys 37,758 Shares of Portland General Electric Company $POR

Key Points

• GSA Capital Partners increased its Portland General Electric stake by 683.5% in the fourth quarter, buying 37,758 additional shares and bringing its total to 43,282 shares worth about $2.08 million.
• Portland General Electric reported weaker-than-expected quarterly results, posting EPS of $0.58 versus estimates of $0.77 and revenue of $879 million versus expectations of $953.24 million.
• The utility raised its quarterly dividend to $0.5513 per share, implying an annualized dividend of $2.21 and a yield of about 4.5%.

GSA Capital Partners LLP lifted its stake in Portland General Electric Company (NYSE:POR - Free Report) by 683.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,282 shares of the utilities provider's stock after purchasing an additional 37,758 shares during the quarter. GSA Capital Partners LLP's holdings in Portland General Electric were worth $2,077,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in POR. V Square Quantitative Management LLC bought a new position in Portland General Electric in the 4th quarter valued at approximately $25,000. Private Trust Co. NA lifted its position in Portland General Electric by 76.4% in the 4th quarter. Private Trust Co. NA now owns 552 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 239 shares in the last quarter. Root Financial Partners LLC bought a new position in Portland General Electric in the 3rd quarter valued at approximately $27,000. Johnson Financial Group Inc. bought a new position in Portland General Electric in the 3rd quarter valued at approximately $27,000. Finally, Clearstead Advisors LLC lifted its position in Portland General Electric by 206.8% in the 3rd quarter. Clearstead Advisors LLC now owns 856 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 577 shares in the last quarter.

Insider Buying and Selling

In other Portland General Electric news, Director Robert N. Hoglund purchased 2,000 shares of the business's stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $48.80 per share, for a total transaction of $97,600.00. Following the purchase, the director owned 2,519 shares of the company's stock, valued at approximately $122,927.20. This represents a 385.36% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Juan Diego Gallegos sold 2,750 shares of the stock in a transaction dated 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 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. Over the last quarter, insiders have sold 15,219 shares of company stock valued at $767,707. Company insiders own 0.52% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on POR shares. UBS Group upped their price objective on Portland General Electric from $53.00 to $55.00 and gave the company a "neutral" rating in a research report on Thursday, February 19th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $55.00 price objective on shares of Portland General Electric in a research report on Thursday, February 19th. BTIG Research reaffirmed a "buy" rating and issued a $58.00 price objective on shares of Portland General Electric in a research report on Friday, January 30th. JPMorgan Chase & Co. upped their price objective on Portland General Electric from $51.00 to $54.00 and gave the company a "neutral" rating in a research report on Monday, April 20th. Finally, Barclays upped their price objective on Portland General Electric from $47.00 to $53.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 17th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Portland General Electric currently has a consensus rating of "Hold" and an average price target of $51.00.

Portland General Electric Price Performance

NYSE POR opened at $49.29 on Wednesday. The business's fifty day moving average price is $51.47 and its 200-day moving average price is $50.42. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 2.02 and a beta of 0.54. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.09 and a quick ratio of 0.95. Portland General Electric Company has a 1-year low of $39.54 and a 1-year high of $54.62.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.19). The firm had revenue of $879.00 million for the quarter, compared to the consensus estimate of $953.24 million. Portland General Electric had a net margin of 7.12% and a return on equity of 7.57%. Portland General Electric's quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 earnings per share. On average, equities analysts predict that Portland General Electric Company will post 3.4 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. Stockholders of record on Thursday, June 25th will be paid a $0.5513 dividend. This is a positive change from Portland General Electric's previous quarterly dividend of $0.53. The ex-dividend date is Thursday, June 25th. This represents a $2.21 annualized dividend and a dividend yield of 4.5%. Portland General Electric's dividend payout ratio (DPR) is currently 93.75%.

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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