Portland General Electric Company $POR Holdings Boosted by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP increased its Portland General Electric stake by 323.2% in the second quarter, bringing its holdings to 80,264 shares valued at approximately $4.16 million.
• Portland General Electric’s latest quarterly results slightly missed expectations, with EPS of $0.64 versus $0.65 forecast and revenue of $814 million versus $839.75 million expected. Shares opened at $48.30, down 0.5%.
• The company declared a quarterly dividend of $0.5513 per share, representing a 4.6% annualized yield. Analysts maintain a consensus “Hold” rating with a $51.15 price target.

Engineers Gate Manager LP grew its holdings in Portland General Electric Company (NYSE:POR - Free Report) by 323.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,264 shares of the utilities provider's stock after purchasing an additional 61,297 shares during the period. Engineers Gate Manager LP owned approximately 0.07% of Portland General Electric worth $4,160,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of POR. Bank & Trust Co boosted its holdings in shares of Portland General Electric by 2.0% during the second quarter. Bank & Trust Co now owns 10,115 shares of the utilities provider's stock worth $524,000 after purchasing an additional 198 shares during the period. Natixis Advisors LLC lifted its position in Portland General Electric by 0.6% in the 4th quarter. Natixis Advisors LLC now owns 35,548 shares of the utilities provider's stock worth $1,706,000 after buying an additional 207 shares in the last quarter. First Citizens Bank & Trust Co. boosted its stake in shares of Portland General Electric by 2.0% during the 1st quarter. First Citizens Bank & Trust Co. now owns 10,997 shares of the utilities provider's stock valued at $580,000 after buying an additional 218 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of Portland General Electric by 18.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,469 shares of the utilities provider's stock valued at $71,000 after acquiring an additional 226 shares in the last quarter. Finally, Fox Hill Wealth Management increased its stake in shares of Portland General Electric by 0.6% in the fourth quarter. Fox Hill Wealth Management now owns 39,373 shares of the utilities provider's stock worth $1,890,000 after acquiring an additional 237 shares during the last quarter.

Portland General Electric Stock Down 0.5%

POR stock opened at $48.30 on Friday. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 2.08 and a beta of 0.51. The company has a 50-day moving average of $50.44 and a two-hundred day moving average of $51.06. Portland General Electric Company has a 52-week low of $41.80 and a 52-week 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.

Portland General Electric (NYSE:POR - Get Free Report) last announced its earnings results on Thursday, July 30th. The utilities provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.01). The business had revenue of $814.00 million for the quarter, compared to the consensus estimate of $839.75 million. Portland General Electric had a net margin of 7.27% and a return on equity of 7.47%. Portland General Electric's revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 EPS. As a group, equities research analysts anticipate that Portland General Electric Company will post 3.4 EPS for the current year.

Portland General Electric Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.21 dividend on an annualized basis and a yield of 4.6%. Portland General Electric's payout ratio is 96.92%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on Portland General Electric from $56.00 to $53.00 and set a "neutral" rating for the company in a report on Wednesday. Zacks Research raised shares of Portland General Electric from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Weiss Ratings downgraded shares of Portland General Electric from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, August 27th. BMO Capital Markets set a $52.00 price objective on shares of Portland General Electric in a report on Tuesday, August 4th. Finally, LADENBURG THALM/SH SH raised Portland General Electric from a "neutral" rating to a "buy" rating and set a $48.50 price target for the company in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $51.15.

Insider Buying and Selling

In other Portland General Electric news, Director Michael Lewis sold 1,537 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $51.83, for a total value of $79,662.71. Following the completion of the sale, the director directly owned 15,045 shares of the company's stock, valued at $779,782.35. This represents a 9.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.52% of the stock is currently owned by insiders.

Portland General Electric Profile

Portland General Electric Company NYSE: POR is an investor-owned electric utility that generates, purchases, transmits, distributes and sells electricity in Oregon. The company serves residential, commercial, industrial and other customers, offering electric delivery and related energy services across its service territory.

Founded in 1889, Portland General Electric is headquartered in Portland, Oregon, and serves communities in the Portland metropolitan area and the Willamette Valley, among other parts of the state.

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