Portland General Electric Company $POR Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its stake in Portland General Electric Company (NYSE:POR) by 74.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 15,093 shares of the utilities provider’s stock after selling 44,507 shares during the period. Hsbc Holdings PLC’s holdings in Portland General Electric were worth $726,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. purchased a new position in Portland General Electric during the fourth quarter worth about $3,662,000. GSA Capital Partners LLP grew its stake in shares of Portland General Electric by 683.5% in the 4th quarter. GSA Capital Partners LLP now owns 43,282 shares of the utilities provider’s stock valued at $2,077,000 after buying an additional 37,758 shares during the period. CWA Asset Management Group LLC grew its stake in shares of Portland General Electric by 228.9% in the 4th quarter. CWA Asset Management Group LLC now owns 68,462 shares of the utilities provider’s stock valued at $3,285,000 after buying an additional 47,644 shares during the period. Jennison Associates LLC acquired a new stake in shares of Portland General Electric during the 4th quarter worth approximately $897,000. Finally, Strs Ohio increased its holdings in shares of Portland General Electric by 287.3% during the 4th quarter. Strs Ohio now owns 30,600 shares of the utilities provider’s stock worth $1,468,000 after buying an additional 22,700 shares during the last quarter.

Portland General Electric Price Performance

Portland General Electric stock opened at $52.13 on Thursday. The company’s 50 day simple moving average is $50.48 and its 200-day simple moving average is $51.07. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 2.23 and a beta of 0.52. Portland General Electric Company has a 1 year low of $39.73 and a 1 year high of $54.62. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.95 and a current ratio of 1.09.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Thursday, April 30th. The utilities provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.19). The company had revenue of $879.00 million during the quarter, compared to analyst estimates 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 was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 earnings per share. As a group, equities research analysts expect that Portland General Electric Company will post 3.39 earnings per share for the current year.

Portland General Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, June 25th were paid a dividend of $0.5513 per share. This represents a $2.21 dividend on an annualized basis and a yield of 4.2%. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, June 25th. Portland General Electric’s payout ratio is currently 98.21%.

Wall Street Analyst Weigh In

Several analysts have recently commented on POR shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Portland General Electric in a research report on Friday, May 15th. Zacks Research cut Portland General Electric from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. lifted their target price on Portland General Electric from $51.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Finally, Wells Fargo & Company set a $51.00 price target on Portland General Electric in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $51.00.

Insider Transactions at Portland General Electric

In other news, Director Robert N. Hoglund acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average price of $48.80 per share, for a total transaction of $97,600.00. Following the acquisition, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joseph R. Trpik, Jr. sold 7,500 shares of the 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 transaction, the chief financial officer directly owned 31,897 shares in the company, valued at approximately $1,563,909.91. The trade was a 19.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.52% of the company’s stock.

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.