Tidal Investments LLC Increases Stake in Portland General Electric Company $POR

Key Points

• Tidal Investments more than doubled its Portland General Electric stake by 125.4% in the second quarter, reaching 46,238 shares valued at approximately $2.4 million.
• Analyst sentiment remains cautious, with two Buy ratings and eight Holds; the stock has an average rating of Hold and a $51.15 consensus price target.
• Portland General Electric narrowly missed quarterly earnings and revenue estimates, while maintaining a quarterly dividend of $0.5513, equivalent to a 4.7% annual yield.

Tidal Investments LLC lifted its stake in shares of Portland General Electric Company (NYSE:POR - Free Report) by 125.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,238 shares of the utilities provider's stock after buying an additional 25,727 shares during the period. Tidal Investments LLC's holdings in Portland General Electric were worth $2,397,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Rothschild Investment LLC lifted its position in Portland General Electric by 112.9% during the fourth quarter. Rothschild Investment LLC now owns 611 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 324 shares during the period. SHP Wealth Management purchased a new stake in shares of Portland General Electric in the fourth quarter valued at approximately $34,000. Root Financial Partners LLC increased its holdings in Portland General Electric by 55.8% in the 1st quarter. Root Financial Partners LLC now owns 1,014 shares of the utilities provider's stock worth $54,000 after acquiring an additional 363 shares in the last quarter. State of Wyoming raised its position in shares of Portland General Electric by 32.9% during the 2nd quarter. State of Wyoming now owns 1,193 shares of the utilities provider's stock worth $62,000 after purchasing an additional 295 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Portland General Electric by 426.4% during the second quarter. Versant Capital Management Inc now owns 2,369 shares of the utilities provider's stock valued at $123,000 after acquiring an additional 1,919 shares during the last quarter.

Analyst Upgrades and Downgrades

POR has been the topic of a number of research reports. BMO Capital Markets set a $52.00 target price on shares of Portland General Electric in a research note on Tuesday, August 4th. LADENBURG THALM/SH SH raised shares of Portland General Electric from a "neutral" rating to a "buy" rating and set a $48.50 price target on the stock in a research report on Thursday, August 13th. JPMorgan Chase & Co. decreased their price objective on Portland General Electric from $56.00 to $53.00 and set a "neutral" rating on the stock in a report on Wednesday, September 9th. Zacks Research upgraded Portland General Electric from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings cut shares of Portland General Electric from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, August 27th. Two investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, Portland General Electric has an average rating of "Hold" and an average target price of $51.15.

Portland General Electric Price Performance

Portland General Electric stock opened at $47.41 on Wednesday. The company has a fifty day simple moving average of $50.26 and a 200-day simple moving average of $50.96. The stock has a market cap of $5.58 billion, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 2.07 and a beta of 0.51. Portland General Electric Company has a 12-month low of $41.80 and a 12-month high of $54.62. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.65 by ($0.01). The business had revenue of $814.00 million during the quarter, compared to analysts' expectations 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 was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS. Equities analysts expect that Portland General Electric Company will post 3.4 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, September 25th will be paid a $0.5513 dividend. This represents a $2.21 annualized dividend and a yield of 4.7%. The ex-dividend date is Friday, September 25th. Portland General Electric's dividend payout ratio is currently 96.92%.

Insider Activity

In other Portland General Electric news, Director Michael Lewis sold 1,537 shares of the firm's stock in a transaction dated 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 approximately $779,782.35. This trade represents a 9.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.52% of the company's stock.

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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