Portland General Electric Company $POR Position Boosted by Edgestream Partners L.P.

Key Points

• Edgestream Partners more than doubled its Portland General Electric position in the first quarter, increasing holdings by 126.7% to 269,147 shares valued at approximately $14.2 million.
• Portland General Electric reported weaker-than-expected quarterly results, with EPS of $0.58 versus the $0.77 consensus and revenue down 5.3% year over year to $879 million. Shares opened at $50.31, while analysts hold a consensus “Reduce” rating and a $50.90 price target.
• The company declared a quarterly dividend of $0.5513 per share, equivalent to an annualized $2.21 payout and a 4.4% yield. Meanwhile, insiders sold 11,787 shares worth approximately $581,230 over the past three months.

Edgestream Partners L.P. increased its holdings in Portland General Electric Company (NYSE:POR - Free Report) by 126.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 269,147 shares of the utilities provider's stock after acquiring an additional 150,449 shares during the period. Portland General Electric comprises approximately 0.5% of Edgestream Partners L.P.'s portfolio, making the stock its 9th biggest holding. Edgestream Partners L.P. owned about 0.23% of Portland General Electric worth $14,203,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Natixis Advisors LLC boosted its position in Portland General Electric by 0.6% in the fourth quarter. Natixis Advisors LLC now owns 35,548 shares of the utilities provider's stock worth $1,706,000 after purchasing an additional 207 shares during the last quarter. Sigma Planning Corp increased its position in shares of Portland General Electric by 3.9% during the 4th quarter. Sigma Planning Corp now owns 5,663 shares of the utilities provider's stock valued at $272,000 after purchasing an additional 210 shares during the last quarter. First Citizens Bank & Trust Co. increased its position 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 purchasing an additional 218 shares during the last quarter. Smartleaf Asset Management LLC raised its stake 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 worth $71,000 after purchasing an additional 226 shares during the period. Finally, Fox Hill Wealth Management raised its stake in shares of Portland General Electric by 0.6% during the 4th quarter. Fox Hill Wealth Management now owns 39,373 shares of the utilities provider's stock worth $1,890,000 after purchasing an additional 237 shares during the period.

Insider Buying and Selling at Portland General Electric

In related news, VP Juan Diego Gallegos sold 2,750 shares of the company's 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 sale, the vice president directly owned 12,127 shares in the company, valued at approximately $590,221.09. This represents a 18.48% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael A. Lewis sold 1,537 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $779,782.35. This trade represents a 9.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,787 shares of company stock worth $581,230 over the last three months. Company insiders own 0.52% of the company's stock.

Portland General Electric Stock Down 1.6%

Shares of NYSE POR opened at $50.31 on Thursday. Portland General Electric Company has a one year low of $40.81 and a one year high of $54.62. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.09 and a quick ratio of 0.95. The business's fifty day moving average price is $51.18 and its 200-day moving average price is $51.33. The stock has a market capitalization of $5.82 billion, a PE ratio of 22.46, a P/E/G ratio of 2.15 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 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.19). Portland General Electric had a return on equity of 7.57% and a net margin of 7.12%.The firm had revenue of $879.00 million for the quarter, compared to the consensus estimate of $953.24 million. During the same quarter in the previous year, the company posted $0.91 EPS. The firm's revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts anticipate that Portland General Electric Company will post 3.38 EPS for the current year.

Portland General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, September 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 is Friday, September 25th. Portland General Electric's dividend payout ratio (DPR) is currently 98.21%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on POR shares. Wells Fargo & Company set a $51.00 price target on shares of Portland General Electric in a research report on Tuesday, April 21st. BMO Capital Markets lowered their price objective on shares of Portland General Electric from $55.00 to $54.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 22nd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Portland General Electric in a research note on Friday, May 15th. Zacks Research cut shares of Portland General Electric from a "hold" rating to a "strong sell" rating in a research note on Monday, July 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Portland General Electric from $51.00 to $54.00 and gave the company a "neutral" rating in a research report on Monday, April 20th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $50.90.

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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