Portland General Electric Company $POR Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its holdings in Portland General Electric Company (NYSE:PORFree Report) by 44.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 140,974 shares of the utilities provider’s stock after selling 114,660 shares during the period. Hsbc Holdings PLC owned 0.12% of Portland General Electric worth $7,362,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Bank & Trust Co increased its stake in Portland General Electric by 2.0% in the second quarter. Bank & Trust Co now owns 10,115 shares of the utilities provider’s stock valued at $524,000 after purchasing an additional 198 shares during the last quarter. Natixis Advisors LLC boosted its stake in Portland General Electric by 0.6% in the 4th quarter. Natixis Advisors LLC now owns 35,548 shares of the utilities provider’s stock worth $1,706,000 after buying an additional 207 shares during the last quarter. First Citizens Bank & Trust Co. grew its holdings in Portland General Electric by 2.0% in the 1st quarter. First Citizens Bank & Trust Co. now owns 10,997 shares of the utilities provider’s stock valued at $580,000 after buying an additional 218 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Portland General Electric by 18.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,469 shares of the utilities provider’s stock valued at $71,000 after acquiring an additional 226 shares during the last quarter. Finally, Fox Hill Wealth Management increased its stake in shares of Portland General Electric by 0.6% during the 4th quarter. Fox Hill Wealth Management now owns 39,373 shares of the utilities provider’s stock valued at $1,890,000 after acquiring an additional 237 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on POR. 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. 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 for the company in a research report on Thursday, August 13th. JPMorgan Chase & Co. cut their price target on shares of Portland General Electric from $56.00 to $53.00 and set a “neutral” rating on the stock in a research note on Wednesday. BMO Capital Markets set a $52.00 price target on shares of Portland General Electric in a report on Tuesday, August 4th. Finally, Zacks Research raised shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Two equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $51.15.

Check Out Our Latest Research Report on POR

Portland General Electric Stock Performance

NYSE POR opened at $48.84 on Thursday. The firm has a market capitalization of $5.74 billion, a P/E ratio of 21.51, a P/E/G ratio of 2.13 and a beta of 0.51. Portland General Electric Company has a 1-year low of $41.80 and a 1-year high of $54.62. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.98 and a quick ratio of 0.86. The business’s 50-day simple moving average is $50.61 and its 200-day simple moving average is $51.10.

Portland General Electric (NYSE:PORGet Free Report) last issued its earnings results on Thursday, July 30th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The firm had revenue of $814.00 million for the quarter, compared to analysts’ expectations of $839.75 million. Portland General Electric had a return on equity of 7.47% and a net margin of 7.27%.The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 EPS. Equities analysts predict that Portland General Electric Company will post 3.4 EPS for the current year.

Portland General Electric Announces Dividend

The firm 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 dividend of $0.5513 per share. This represents a $2.21 annualized dividend and a yield of 4.5%. The ex-dividend date is Friday, September 25th. Portland General Electric’s payout ratio is currently 96.92%.

Insider Activity

In other news, Director Michael Lewis sold 1,537 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $51.83, for a total value of $79,662.71. Following the completion of the sale, the director owned 15,045 shares of the company’s stock, valued at $779,782.35. This represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is owned by insiders.

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.

See Also

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

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