Hsbc Holdings PLC Reduces Holdings in Portland General Electric Company $POR

Hsbc Holdings PLC reduced its position in shares of Portland General Electric Company (NYSE:POR) by 44.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,974 shares of the utilities provider’s stock after selling 114,660 shares during the period. Hsbc Holdings PLC’s holdings in Portland General Electric were worth $7,362,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Johnson Financial Group Inc. purchased a new position in shares of Portland General Electric in the third quarter valued at $27,000. Rothschild Investment LLC lifted its holdings in Portland General Electric by 112.9% in the 4th quarter. Rothschild Investment LLC now owns 611 shares of the utilities provider’s stock worth $29,000 after buying an additional 324 shares in the last quarter. SHP Wealth Management acquired a new position in Portland General Electric in the 4th quarter worth $34,000. Northwestern Mutual Wealth Management Co. boosted its position in Portland General Electric by 272.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 719 shares of the utilities provider’s stock valued at $35,000 after buying an additional 526 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in Portland General Electric by 61.7% in the 3rd quarter. IFP Advisors Inc now owns 1,080 shares of the utilities provider’s stock valued at $48,000 after buying an additional 412 shares during the last quarter.

Insider Buying and Selling

In other news, Director Michael Lewis sold 1,537 shares of Portland General Electric stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $51.83, for a total value of $79,662.71. Following the completion of the transaction, the director owned 15,045 shares in the company, valued at approximately $779,782.35. This trade represents a 9.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on POR shares. BMO Capital Markets set a $52.00 target price on Portland General Electric in a research note on Tuesday, August 4th. LADENBURG THALM/SH SH raised Portland General Electric from a “neutral” rating to a “buy” rating and set a $48.50 price target for the company in a report on Thursday, August 13th. JPMorgan Chase & Co. lowered their price objective on Portland General Electric from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Wednesday. Weiss Ratings downgraded Portland General Electric from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, August 27th. Finally, Zacks Research raised Portland General Electric from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $51.15.

Portland General Electric Price Performance

POR opened at $48.84 on Thursday. The company has a 50-day moving average of $50.61 and a 200-day moving average of $51.10. The company has a market capitalization of $5.74 billion, a P/E ratio of 21.51, a PEG 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 quick ratio of 0.86 and a current ratio of 0.98.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.64 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.01). The company had revenue of $814.00 million for the quarter, compared to the consensus estimate of $839.75 million. Portland General Electric had a return on equity of 7.47% and a net margin of 7.27%.The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 EPS. Equities analysts expect that Portland General Electric Company will post 3.4 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, September 25th will be issued a dividend of $0.5513 per share. This represents a $2.21 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Friday, September 25th. Portland General Electric’s dividend payout ratio (DPR) is currently 96.92%.

Portland General Electric 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.