Squarepoint Ops LLC Has $40.10 Million Position in Portland General Electric Company $POR

Key Points

• Squarepoint Ops nearly doubled its Portland General Electric stake in the second quarter, owning 773,692 shares valued at approximately $40.1 million, or 0.66% of the utility.
• Portland General Electric reported quarterly EPS of $0.64, slightly below the $0.65 analyst consensus, while revenue of $814 million also missed estimates. Shares opened at $49.48, up 1.5%.
• The company declared a quarterly dividend of $0.5513, equivalent to an annualized $2.21 payout and a 4.5% yield. Analysts maintain a consensus “Hold” rating with a $51.25 price target.

Squarepoint Ops LLC boosted its holdings in Portland General Electric Company (NYSE:POR - Free Report) by 97.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 773,692 shares of the utilities provider's stock after acquiring an additional 381,365 shares during the quarter. Squarepoint Ops LLC owned 0.66% of Portland General Electric worth $40,100,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Royal Bank of Canada grew its stake in shares of Portland General Electric by 7.4% in the 1st quarter. Royal Bank of Canada now owns 161,931 shares of the utilities provider's stock valued at $7,222,000 after purchasing an additional 11,141 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Portland General Electric by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,949 shares of the utilities provider's stock worth $2,763,000 after buying an additional 2,717 shares during the period. Millennium Management LLC boosted its stake in Portland General Electric by 465.5% in the 1st quarter. Millennium Management LLC now owns 151,134 shares of the utilities provider's stock valued at $6,741,000 after buying an additional 124,410 shares in the last quarter. United Services Automobile Association acquired a new stake in Portland General Electric in the 1st quarter valued at $271,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Portland General Electric by 6.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,640 shares of the utilities provider's stock valued at $10,420,000 after acquiring an additional 13,799 shares during the period.

Portland General Electric Stock Up 1.5%

Shares of POR opened at $49.48 on Wednesday. The company has a market capitalization of $5.82 billion, a P/E ratio of 21.80, a PEG ratio of 2.10 and a beta of 0.51. Portland General Electric Company has a one year low of $41.80 and a one year high of $54.62. The business's 50 day simple moving average is $50.67 and its 200-day simple moving average is $51.13. 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 released its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates of $0.65 by ($0.01). The business had revenue of $814.00 million for the quarter, compared to analyst estimates of $839.75 million. Portland General Electric had a net margin of 7.27% and a return on equity of 7.47%. The company's revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 earnings per share. As a group, sell-side analysts predict that Portland General Electric Company will post 3.4 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, September 25th will be issued a $0.5513 dividend. This represents a $2.21 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, September 25th. Portland General Electric's payout ratio is currently 96.92%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. BMO Capital Markets set a $52.00 price objective on Portland General Electric in a research note on Tuesday, August 4th. Weiss Ratings downgraded shares of Portland General Electric from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, August 27th. LADENBURG THALM/SH SH raised shares of 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. Finally, Zacks Research upgraded shares of Portland General Electric from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Two 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.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $51.25.

Insider Activity

In related news, Director Michael Lewis sold 1,537 shares of the company's stock in a transaction dated Monday, July 27th. The shares were 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 in the company, valued at $779,782.35. This represents a 9.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is owned by corporate insiders.

Portland General Electric Company 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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