AlphaQuest LLC Raises Stock Position in Portland General Electric Company $POR

AlphaQuest LLC raised its stake in shares of Portland General Electric Company (NYSE:POR) by 50.6% during the fourth quarter, Holdings Channel reports. The firm owned 51,576 shares of the utilities provider’s stock after buying an additional 17,330 shares during the quarter. AlphaQuest LLC’s holdings in Portland General Electric were worth $2,475,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in POR. V Square Quantitative Management LLC purchased a new position in Portland General Electric during the 4th quarter valued at $25,000. Private Trust Co. NA increased its position in Portland General Electric by 76.4% during the 4th quarter. Private Trust Co. NA now owns 552 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 239 shares during the period. Root Financial Partners LLC purchased a new stake in shares of Portland General Electric in the 3rd quarter worth about $27,000. Johnson Financial Group Inc. purchased a new stake in shares of Portland General Electric in the 3rd quarter worth about $27,000. Finally, Clearstead Advisors LLC grew its position in shares of Portland General Electric by 206.8% in the 3rd quarter. Clearstead Advisors LLC now owns 856 shares of the utilities provider’s stock worth $38,000 after buying an additional 577 shares during the period.

Portland General Electric Stock Performance

Shares of Portland General Electric stock opened at $49.89 on Wednesday. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 2.09 and a beta of 0.54. The firm’s 50-day moving average is $51.18 and its 200 day moving average is $50.53. Portland General Electric Company has a 1 year low of $39.54 and a 1 year high of $54.62. 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:POR) last announced its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.19). The firm had revenue of $879.00 million during the quarter, compared to the consensus estimate of $953.24 million. Portland General Electric had a return on equity of 7.57% and a net margin of 7.12%.The business’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 EPS. Sell-side analysts anticipate that Portland General Electric Company will post 3.39 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently declared 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%. The ex-dividend date is Thursday, June 25th. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.53. Portland General Electric’s dividend payout ratio (DPR) is presently 93.75%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their target price 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. UBS Group upped their target price 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Portland General Electric in a research report on Friday, May 15th. Barclays upped their target price 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. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $55.00 target price on shares of Portland General Electric in a research report on Thursday, February 19th. One equities 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 has an average rating of “Hold” and a consensus price target of $51.00.

Insider Activity

In related news, Director Robert N. Hoglund bought 2,000 shares of the stock in a transaction on Monday, May 11th. The shares were acquired at an average price of $48.80 per share, for a total transaction of $97,600.00. Following the purchase, the director owned 2,519 shares of the company’s stock, valued at approximately $122,927.20. The trade was a 385.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Juan Diego Gallegos sold 2,750 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $48.67, for a total transaction of $133,842.50. Following the transaction, the vice president owned 12,127 shares in the company, valued at $590,221.09. This represents a 18.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 15,219 shares of company stock worth $767,707. 0.52% of the stock is currently owned by company 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.