Portland General Electric Company $POR Stock Holdings Boosted by 1834 Investment Advisors Co.

Key Points

• Institutional ownership increased: 1834 Investment Advisors more than doubled its Portland General Electric stake to 100,332 shares, while several other major funds also expanded their positions.
• Analyst sentiment remains cautious: The stock has an average “Hold” rating and a consensus price target of $50.15, with recent targets ranging from $47 to $50 and one firm upgrading the shares to “Buy.”
• Shares and earnings faced pressure: POR opened at $44.21, near its one-year low, after the company narrowly missed quarterly EPS and revenue estimates. It continues to offer a quarterly dividend of $0.5513 per share, yielding about 5% annually.

1834 Investment Advisors Co. lifted its holdings in shares of Portland General Electric Company (NYSE:POR - Free Report) by 125.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 100,332 shares of the utilities provider's stock after acquiring an additional 55,751 shares during the period. 1834 Investment Advisors Co. owned approximately 0.09% of Portland General Electric worth $4,478,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Portland General Electric by 7.4% during the 2nd quarter. BlackRock Inc. now owns 18,719,655 shares of the utilities provider's stock worth $970,240,000 after buying an additional 1,292,219 shares during the period. Allianz Asset Management GmbH raised its stake in Portland General Electric by 3,222.3% during the second quarter. Allianz Asset Management GmbH now owns 685,133 shares of the utilities provider's stock worth $35,510,000 after acquiring an additional 664,511 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Portland General Electric by 60.6% during the first quarter. Bank of America Corp DE now owns 1,660,446 shares of the utilities provider's stock valued at $87,622,000 after acquiring an additional 626,223 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Portland General Electric by 31.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,329,723 shares of the utilities provider's stock valued at $120,750,000 after buying an additional 553,570 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Portland General Electric in the first quarter valued at approximately $26,322,000.

Analysts Set New Price Targets

POR has been the topic of several recent analyst reports. LADENBURG THALM/SH SH raised Portland General Electric from a "neutral" rating to a "buy" rating and set a $48.50 target price on the stock in a report on Thursday, August 13th. UBS Group dropped their price target on Portland General Electric from $53.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, September 28th. KeyCorp reaffirmed a "sector weight" rating on shares of Portland General Electric in a report on Thursday, September 24th. Weiss Ratings downgraded Portland General Electric from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, August 27th. Finally, BMO Capital Markets reduced their price objective on Portland General Electric from $52.00 to $47.00 and set a "market perform" rating on the stock in a research note on Wednesday, September 30th. Two investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Portland General Electric has an average rating of "Hold" and an average price target of $50.15.

Insider Activity

In other news, Director Michael Lewis sold 1,537 shares of the company's stock in a transaction 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 transaction, the director owned 15,045 shares of the company's stock, valued at $779,782.35. This represents a 9.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.52% of the stock is owned by company insiders.

Portland General Electric Price Performance

POR opened at $44.21 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.98 and a quick ratio of 0.86. The stock has a market capitalization of $5.20 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 1.92 and a beta of 0.49. The company's 50 day simple moving average is $47.56 and its 200-day simple moving average is $49.82. Portland General Electric Company has a one year low of $43.26 and a one year high of $54.62.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $814.00 million during the quarter, compared to the consensus estimate of $839.75 million. Portland General Electric had a return on equity of 7.47% and a net margin of 7.27%. The business's revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 EPS. Sell-side analysts anticipate that Portland General Electric Company will post 3.35 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Friday, September 25th were given a dividend of $0.5513 per share. The ex-dividend date was Friday, September 25th. This represents a $2.21 dividend on an annualized basis and a dividend yield of 5.0%. Portland General Electric's payout ratio is presently 96.92%.

Portland General Electric Company Profile

Portland General Electric Company NYSE: POR is an investor-owned electric utility headquartered in Portland, Oregon. Founded in 1889, the company generates, purchases, transmits, distributes and sells electricity to residential, commercial and industrial customers throughout much of Oregon.

Portland General Electric operates a diverse energy portfolio that includes hydroelectric, wind, solar, natural gas and other resources, while also purchasing electricity through wholesale markets and power agreements.

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