QRG Capital Management Inc. Cuts Stake in Portland General Electric Company $POR

QRG Capital Management Inc. lowered its stake in shares of Portland General Electric Company (NYSE:POR) by 84.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,678 shares of the utilities provider’s stock after selling 51,509 shares during the period. QRG Capital Management Inc.’s holdings in Portland General Electric were worth $426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc increased its holdings in Portland General Electric by 1,291.7% in the 2nd quarter. IFP Advisors Inc now owns 668 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 620 shares during the last quarter. Bell Investment Advisors Inc grew its position in shares of Portland General Electric by 80.6% during the second quarter. Bell Investment Advisors Inc now owns 829 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 370 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Portland General Electric in the second quarter worth about $51,000. Allworth Financial LP lifted its position in shares of Portland General Electric by 136.9% in the second quarter. Allworth Financial LP now owns 1,343 shares of the utilities provider’s stock worth $55,000 after buying an additional 776 shares in the last quarter. Finally, Private Trust Co. NA grew its holdings in Portland General Electric by 126.0% during the 2nd quarter. Private Trust Co. NA now owns 1,433 shares of the utilities provider’s stock valued at $58,000 after buying an additional 799 shares in the last quarter.

Analyst Ratings Changes

A number of research firms have recently commented on POR. Mizuho set a $47.00 target price on Portland General Electric in a research report on Monday, November 3rd. BMO Capital Markets reiterated a “market perform” rating on shares of Portland General Electric in a research report on Tuesday, December 30th. Wells Fargo & Company lifted their price objective on shares of Portland General Electric from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Loop Capital set a $48.00 target price on shares of Portland General Electric in a research report on Tuesday, December 30th. Finally, Jefferies Financial Group lifted their price target on Portland General Electric from $43.00 to $46.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $47.92.

Portland General Electric Price Performance

POR stock opened at $49.31 on Friday. The stock has a market cap of $5.55 billion, a PE ratio of 17.93, a P/E/G ratio of 4.37 and a beta of 0.67. Portland General Electric Company has a 12 month low of $39.54 and a 12 month high of $51.14. The company has a 50-day moving average price of $48.89 and a 200 day moving average price of $45.28. The company has a current ratio of 1.08, a quick ratio of 0.95 and a debt-to-equity ratio of 1.25.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Thursday, October 30th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. The business had revenue of $952.00 million during the quarter, compared to the consensus estimate of $975.64 million. Portland General Electric had a net margin of 8.63% and a return on equity of 8.32%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 earnings per share. Equities research analysts anticipate that Portland General Electric Company will post 3.21 earnings per share for the current year.

Portland General Electric Company Profile

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.