Systematic Financial Management LP cut its stake in shares of Portland General Electric Company (NYSE:POR – Free Report) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 642,626 shares of the utilities provider’s stock after selling 11,334 shares during the period. Systematic Financial Management LP owned 0.57% of Portland General Electric worth $30,840,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in Portland General Electric during the fourth quarter worth approximately $25,000. Private Trust Co. NA lifted its position in Portland General Electric by 76.4% during the fourth quarter. Private Trust Co. NA now owns 552 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 239 shares during the last quarter. Root Financial Partners LLC acquired a new stake in Portland General Electric during the third quarter worth approximately $27,000. Johnson Financial Group Inc. acquired a new stake in Portland General Electric during the third quarter worth approximately $27,000. Finally, Clearstead Advisors LLC lifted its position in Portland General Electric by 206.8% during the third quarter. Clearstead Advisors LLC now owns 856 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 577 shares during the last quarter.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on POR shares. UBS Group raised their price objective on shares of Portland General Electric from $53.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, February 19th. Wells Fargo & Company set a $51.00 price target on shares of Portland General Electric in a research report on Tuesday, April 21st. BTIG Research reiterated a “buy” rating and issued a $58.00 price target on shares of Portland General Electric in a research report on Friday, January 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Portland General Electric in a research report on Friday, May 15th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Portland General Electric from $51.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $51.00.
Portland General Electric Stock Up 0.5%
NYSE POR opened at $49.81 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.95 and a debt-to-equity ratio of 1.19. Portland General Electric Company has a 1-year low of $39.54 and a 1-year high of $54.62. The company has a 50 day moving average of $51.31 and a 200-day moving average of $50.47. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 2.09 and a beta of 0.54.
Portland General Electric (NYSE:POR – Get Free Report) last released 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 quarter in the previous year, the firm posted $0.91 earnings per share. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. On average, equities research 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, June 25th will be paid a $0.5513 dividend. This represents a $2.21 dividend on an annualized basis and a yield of 4.4%. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, June 25th. Portland General Electric’s payout ratio is 93.75%.
Insider Activity
In related news, VP Juan Diego Gallegos sold 2,750 shares of Portland General Electric stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $48.67, for a total value of $133,842.50. Following the transaction, the vice president directly owned 12,127 shares of the company’s stock, valued at $590,221.09. This trade represents a 18.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert N. Hoglund acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $48.80 per share, for a total transaction of $97,600.00. Following the completion of the purchase, the director directly owned 2,519 shares of the company’s stock, valued at $122,927.20. The trade was a 385.36% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 15,219 shares of company stock valued at $767,707. 0.52% of the stock is owned by insiders.
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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