James Investment Research Inc. reduced its stake in shares of Portland General Electric Company (NYSE:POR) by 15.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,405 shares of the utilities provider’s stock after selling 4,635 shares during the period. James Investment Research Inc.’s holdings in Portland General Electric were worth $1,161,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. IFP Advisors Inc increased its position in shares of Portland General Electric by 0.4% in the first quarter. IFP Advisors Inc now owns 2,811 shares of the utilities provider’s stock worth $125,000 after buying an additional 10 shares during the period. Cable Hill Partners LLC boosted its position in shares of Portland General Electric by 0.4% in the first quarter. Cable Hill Partners LLC now owns 4,318 shares of the utilities provider’s stock worth $192,000 after buying an additional 17 shares during the period. Becker Capital Management Inc. acquired a new position in shares of Portland General Electric during the fourth quarter worth $233,000. Regentatlantic Capital LLC boosted its position in shares of Portland General Electric by 5.9% in the first quarter. Regentatlantic Capital LLC now owns 5,580 shares of the utilities provider’s stock worth $248,000 after buying an additional 310 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Portland General Electric during the first quarter worth $252,000. Institutional investors and hedge funds own 95.21% of the company’s stock.
Shares of Portland General Electric Company (POR) opened at 46.35 on Friday. The stock’s 50 day moving average is $46.30 and its 200 day moving average is $45.04. Portland General Electric Company has a 12 month low of $40.28 and a 12 month high of $48.06. The stock has a market cap of $4.13 billion, a P/E ratio of 20.15 and a beta of 0.30.
Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, April 28th. The utilities provider reported $0.82 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.82. Portland General Electric had a net margin of 10.43% and a return on equity of 8.78%. The business had revenue of $530 million during the quarter, compared to the consensus estimate of $521.97 million. During the same quarter last year, the company earned $0.68 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. Analysts predict that Portland General Electric Company will post $2.25 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Monday, June 26th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date was Thursday, June 22nd. This is an increase from Portland General Electric’s previous quarterly dividend of $0.32. Portland General Electric’s payout ratio is currently 59.13%.
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A number of brokerages recently weighed in on POR. Zacks Investment Research upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Saturday, March 25th. Barclays PLC reiterated an “underweight” rating and set a $44.00 price target (up previously from $41.00) on shares of Portland General Electric in a report on Sunday, April 23rd. BidaskClub cut shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Finally, UBS AG cut shares of Portland General Electric from a “buy” rating to a “neutral” rating in a report on Tuesday, May 2nd. Four research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $44.20.
In other Portland General Electric news, VP Campbell A. Henderson sold 3,000 shares of Portland General Electric stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $45.01, for a total value of $135,030.00. Following the completion of the transaction, the vice president now owns 20,424 shares of the company’s stock, valued at $919,284.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider William O. Nicholson sold 6,000 shares of Portland General Electric stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $45.10, for a total transaction of $270,600.00. Following the completion of the transaction, the insider now directly owns 16,313 shares of the company’s stock, valued at approximately $735,716.30. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.
About Portland General Electric
Portland General Electric Company is an electric utility that is engaged in the wholesale purchase, transmission, distribution and retail sale of electricity in the State of Oregon. Its service area allocation of approximately 4,000 square miles is located entirely within Oregon and includes approximately 51 incorporated cities, of which Portland and Salem.
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