Systematic Financial Management LP Sells 11,334 Shares of Portland General Electric Company $POR

Systematic Financial Management LP trimmed its position in Portland General Electric Company (NYSE:POR) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 642,626 shares of the utilities provider’s stock after selling 11,334 shares during the quarter. Systematic Financial Management LP’s holdings in Portland General Electric were worth $30,840,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in POR. UBS Group AG increased its stake in Portland General Electric by 514.3% in the fourth quarter. UBS Group AG now owns 883,162 shares of the utilities provider’s stock valued at $42,383,000 after acquiring an additional 739,404 shares during the last quarter. Millennium Management LLC grew its stake in shares of Portland General Electric by 99.4% during the third quarter. Millennium Management LLC now owns 1,385,777 shares of the utilities provider’s stock worth $60,974,000 after buying an additional 690,743 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Portland General Electric by 34.1% during the third quarter. AQR Capital Management LLC now owns 2,497,281 shares of the utilities provider’s stock worth $109,381,000 after buying an additional 634,890 shares during the last quarter. Barclays PLC grew its stake in shares of Portland General Electric by 223.4% during the third quarter. Barclays PLC now owns 766,535 shares of the utilities provider’s stock worth $33,728,000 after buying an additional 529,536 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Portland General Electric by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 13,020,573 shares of the utilities provider’s stock worth $624,857,000 after buying an additional 513,517 shares during the last quarter.

Portland General Electric Stock Performance

Shares of Portland General Electric stock opened at $49.81 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.09 and a debt-to-equity ratio of 1.19. Portland General Electric Company has a twelve month low of $39.54 and a twelve month high of $54.62. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 22.24, a P/E/G ratio of 2.09 and a beta of 0.54. The company’s fifty day moving average is $51.31 and its 200 day moving average is $50.47.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.19). The firm had revenue of $879.00 million for the quarter, compared to the consensus estimate of $953.24 million. Portland General Electric had a net margin of 7.12% and a return on equity of 7.57%. The business’s revenue was down 5.3% compared to the same quarter last year. During the same period last year, the company posted $0.91 EPS. Sell-side analysts forecast that Portland General Electric Company will post 3.39 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, June 25th will be issued a dividend of $0.5513 per share. This is an increase from Portland General Electric’s previous quarterly dividend of $0.53. This represents a $2.21 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Thursday, June 25th. Portland General Electric’s dividend payout ratio (DPR) is currently 93.75%.

Insider Activity at Portland General Electric

In related news, 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 value of $133,842.50. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert N. Hoglund bought 2,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $48.80 per share, for a total transaction of $97,600.00. Following the acquisition, the director directly owned 2,519 shares in the company, valued at $122,927.20. The trade was a 385.36% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 15,219 shares of company stock worth $767,707 over the last three months. 0.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

POR has been the topic of a number of research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Portland General Electric in a research note on Friday, May 15th. UBS Group boosted 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 note on Thursday, February 19th. BMO Capital Markets reaffirmed a “market perform” rating and set a $55.00 target price on shares of Portland General Electric in a research note on Thursday, February 19th. JPMorgan Chase & Co. boosted 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 note on Monday, April 20th. Finally, Wells Fargo & Company set a $51.00 target price on shares of Portland General Electric in a research note on Tuesday, April 21st. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $51.00.

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.