Portland General Electric Company $POR Stock Holdings Lowered by GW&K Investment Management LLC

Key Points

• GW&K Investment Management reduced its Portland General Electric stake by 3.8% in the fourth quarter, though it still held 849,502 shares valued at about $40.8 million.
• Portland General Electric reported weaker-than-expected quarterly results, posting EPS of $0.58 versus the $0.77 estimate and revenue of $879 million, down 5.3% from a year earlier.
• The company raised its quarterly dividend to $0.5513 per share, implying an annualized yield of about 4.3%; analysts currently rate the stock a consensus Hold with a $51 target price.

GW&K Investment Management LLC lowered its position in shares of Portland General Electric Company (NYSE:POR - Free Report) by 3.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 849,502 shares of the utilities provider's stock after selling 33,911 shares during the period. GW&K Investment Management LLC owned 0.76% of Portland General Electric worth $40,767,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Outlook Wealth Advisors LLC grew its position in shares of Portland General Electric by 36.6% during the fourth quarter. Outlook Wealth Advisors LLC now owns 10,212 shares of the utilities provider's stock worth $490,000 after acquiring an additional 2,738 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Portland General Electric during the fourth quarter worth about $1,885,000. Cerity Partners LLC grew its position in shares of Portland General Electric by 8.3% during the fourth quarter. Cerity Partners LLC now owns 138,427 shares of the utilities provider's stock worth $6,643,000 after acquiring an additional 10,626 shares during the last quarter. LPL Financial LLC grew its position in shares of Portland General Electric by 9.0% during the fourth quarter. LPL Financial LLC now owns 80,588 shares of the utilities provider's stock worth $3,867,000 after acquiring an additional 6,652 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Portland General Electric by 27.0% during the fourth quarter. Franklin Resources Inc. now owns 287,186 shares of the utilities provider's stock worth $13,782,000 after acquiring an additional 61,047 shares during the last quarter.

Portland General Electric Price Performance

Shares of NYSE POR opened at $50.81 on Thursday. Portland General Electric Company has a twelve month low of $39.54 and a twelve month high of $54.62. The company has a current ratio of 1.09, a quick ratio of 0.95 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $5.88 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 2.11 and a beta of 0.52. The firm has a 50-day moving average of $50.74 and a two-hundred day moving average of $50.59.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $953.24 million. During the same period in the previous year, the company posted $0.91 earnings per share. Portland General Electric's revenue was down 5.3% compared to the same quarter last year. As a group, analysts expect that Portland General Electric Company will post 3.39 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, June 25th will be issued a $0.5513 dividend. This represents a $2.21 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Thursday, June 25th. This is a positive change from Portland General Electric's previous quarterly dividend of $0.53. Portland General Electric's dividend payout ratio is currently 93.75%.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, VP Juan Diego Gallegos sold 2,750 shares of the company's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $48.67, for a total value 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 approximately $590,221.09. This represents a 18.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 cost of $48.80 per share, with a total value of $97,600.00. Following the completion of the acquisition, the director directly owned 2,519 shares in the company, valued at $122,927.20. The trade was a 385.36% increase in their position. The SEC filing for this purchase provides additional information. 0.52% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Portland General Electric from $51.00 to $54.00 and gave the stock a "neutral" rating in a research report on Monday, April 20th. BMO Capital Markets reiterated a "market perform" rating and issued a $55.00 target price on shares of Portland General Electric in a research report on Thursday, February 19th. Wells Fargo & Company set a $51.00 target price on shares of Portland General Electric in a research report on Tuesday, April 21st. UBS Group increased their target price on shares of Portland General Electric from $53.00 to $55.00 and gave the company a "neutral" rating in a research report on Thursday, February 19th. Finally, Barclays increased their target price on shares of 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 assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $51.00.

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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