Portland General Electric Company $POR is ATLAS Infrastructure Partners UK Ltd.’s 8th Largest Position

ATLAS Infrastructure Partners UK Ltd. cut its holdings in Portland General Electric Company (NYSE:POR) by 55.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,938,334 shares of the utilities provider’s stock after selling 2,444,158 shares during the quarter. Portland General Electric accounts for approximately 4.7% of ATLAS Infrastructure Partners UK Ltd.’s investment portfolio, making the stock its 8th largest position. ATLAS Infrastructure Partners UK Ltd. owned 1.72% of Portland General Electric worth $93,021,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada boosted its stake in Portland General Electric by 7.4% during the first quarter. Royal Bank of Canada now owns 161,931 shares of the utilities provider’s stock worth $7,222,000 after buying an additional 11,141 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Portland General Electric by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,949 shares of the utilities provider’s stock worth $2,763,000 after buying an additional 2,717 shares during the period. Millennium Management LLC boosted its stake in Portland General Electric by 465.5% during the first quarter. Millennium Management LLC now owns 151,134 shares of the utilities provider’s stock worth $6,741,000 after buying an additional 124,410 shares during the period. United Services Automobile Association purchased a new position in Portland General Electric during the first quarter worth $271,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Portland General Electric by 6.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,640 shares of the utilities provider’s stock worth $10,420,000 after buying an additional 13,799 shares during the period.

Portland General Electric Stock Down 2.0%

NYSE:POR opened at $49.76 on Thursday. Portland General Electric Company has a twelve month low of $39.54 and a twelve month high of $54.62. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 2.13 and a beta of 0.52. The stock has a fifty day simple moving average of $50.45 and a 200-day simple moving average of $50.59. 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 (NYSE:POR) last released its earnings results on Thursday, April 30th. The utilities provider reported $0.58 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $879.00 million for the quarter, compared to the consensus estimate of $953.24 million. During the same quarter last year, the business posted $0.91 earnings per share. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. Analysts anticipate that Portland General Electric Company will post 3.39 EPS for the current year.

Portland General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, June 25th will be given a dividend of $0.5513 per share. This represents a $2.21 annualized dividend and a dividend yield of 4.4%. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, June 25th. Portland General Electric’s dividend payout ratio is 98.21%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company set a $51.00 price objective on shares of Portland General Electric in a research note on Tuesday, April 21st. JPMorgan Chase & Co. lifted their price objective on shares of Portland General Electric from $51.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday, April 20th. BMO Capital Markets reaffirmed a “market perform” rating and set a $55.00 price objective on shares of Portland General Electric in a research note on Thursday, February 19th. UBS Group lifted 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 note on Thursday, February 19th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Portland General Electric in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $51.00.

Insider Transactions at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 7,500 shares of Portland General Electric stock in a transaction dated 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 sale, the chief financial officer directly owned 31,897 shares in the company, valued at $1,563,909.91. The trade was a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 price of $48.80 per share, with a total value of $97,600.00. Following the completion of the acquisition, the director directly owned 2,519 shares of the company’s stock, valued at $122,927.20. This represents a 385.36% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.52% of the company’s stock.

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.