Portland General Electric Company $POR Position Reduced by GW&K Investment Management LLC

GW&K Investment Management LLC cut its position in shares of Portland General Electric Company (NYSE:PORFree Report) by 3.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 849,502 shares of the utilities provider’s stock after selling 33,911 shares during the period. GW&K Investment Management LLC’s holdings in Portland General Electric were worth $40,767,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of POR. Clearbridge Investments LLC lifted its stake in Portland General Electric by 1,342.7% during the fourth quarter. Clearbridge Investments LLC now owns 4,643,134 shares of the utilities provider’s stock valued at $222,824,000 after buying an additional 4,321,305 shares in the last quarter. Norges Bank purchased a new stake in Portland General Electric during the fourth quarter valued at about $56,497,000. UBS Group AG lifted its stake in Portland General Electric by 514.3% during the fourth quarter. UBS Group AG now owns 883,162 shares of the utilities provider’s stock valued at $42,383,000 after buying an additional 739,404 shares in the last quarter. Millennium Management LLC lifted its stake in Portland General Electric by 99.4% during the third quarter. Millennium Management LLC now owns 1,385,777 shares of the utilities provider’s stock valued at $60,974,000 after buying an additional 690,743 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Portland General Electric by 34.1% in the third quarter. AQR Capital Management LLC now owns 2,497,281 shares of the utilities provider’s stock worth $109,381,000 after purchasing an additional 634,890 shares in the last quarter.

Insider Buying and Selling

In other news, Director Robert N. Hoglund acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average price of $48.80 per share, for a total transaction of $97,600.00. Following the completion of the acquisition, the director owned 2,519 shares of the company’s stock, valued at approximately $122,927.20. This represents a 385.36% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Joseph R. Trpik, Jr. sold 7,500 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $49.03, for a total value of $367,725.00. Following the completion of the transaction, the chief financial officer owned 31,897 shares in the company, valued at $1,563,909.91. This represents a 19.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.52% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on POR shares. Wells Fargo & Company set a $51.00 price target on shares of Portland General Electric in a research report on Tuesday, April 21st. Barclays increased their price target on shares of Portland General Electric from $47.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 17th. UBS Group increased their price target 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. JPMorgan Chase & Co. increased 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. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $55.00 price target on shares of Portland General Electric in a research report on Thursday, February 19th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Portland General Electric currently has an average rating of “Hold” and a consensus target price of $51.00.

Read Our Latest Stock Analysis on POR

Portland General Electric Price Performance

NYSE POR opened at $50.81 on Thursday. The company has a 50 day simple moving average of $50.74 and a 200-day simple moving average of $50.59. Portland General Electric Company has a 52-week low of $39.54 and a 52-week high of $54.62. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 2.11 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.09 and a quick ratio of 0.95.

Portland General Electric (NYSE:PORGet Free Report) last released its quarterly earnings data on Thursday, April 30th. The utilities provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.19). Portland General Electric had a return on equity of 7.57% and a net margin of 7.12%.The firm had revenue of $879.00 million during the quarter, compared to analyst estimates of $953.24 million. During the same quarter in the prior year, the company posted $0.91 EPS. The company’s quarterly revenue was down 5.3% on a year-over-year basis. Equities research analysts predict 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 issued a $0.5513 dividend. This is an increase from Portland General Electric’s previous quarterly dividend of $0.53. This represents a $2.21 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Thursday, June 25th. Portland General Electric’s dividend payout ratio is currently 93.75%.

About Portland General Electric

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Portland General Electric (NYSE:POR)

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