Systematic Financial Management LP Sells 13,287 Shares of Portland General Electric Company $POR

Systematic Financial Management LP cut its holdings in shares of Portland General Electric Company (NYSE:POR) by 2.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 629,339 shares of the utilities provider’s stock after selling 13,287 shares during the quarter. Systematic Financial Management LP owned approximately 0.54% of Portland General Electric worth $33,210,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Assenagon Asset Management S.A. purchased a new position in Portland General Electric during the fourth quarter valued at $3,662,000. GSA Capital Partners LLP increased its stake in shares of Portland General Electric by 683.5% during the fourth quarter. GSA Capital Partners LLP now owns 43,282 shares of the utilities provider’s stock worth $2,077,000 after purchasing an additional 37,758 shares in the last quarter. Sterling Capital Management LLC increased its stake in shares of Portland General Electric by 18.8% during the first quarter. Sterling Capital Management LLC now owns 127,496 shares of the utilities provider’s stock worth $6,728,000 after purchasing an additional 20,147 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of Portland General Electric during the 4th quarter worth about $897,000. Finally, LSV Asset Management raised its position in shares of Portland General Electric by 34.1% during the 4th quarter. LSV Asset Management now owns 799,147 shares of the utilities provider’s stock worth $38,351,000 after purchasing an additional 203,400 shares during the last quarter.

Portland General Electric Stock Performance

POR opened at $52.41 on Friday. The firm has a market capitalization of $6.07 billion, a PE ratio of 23.40, a PEG ratio of 2.22 and a beta of 0.52. Portland General Electric Company has a twelve month low of $39.73 and a twelve month high of $54.62. The firm’s 50-day moving average price is $50.98 and its 200 day moving average price is $51.26. 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 announced its quarterly earnings data on Thursday, April 30th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.19). Portland General Electric had a net margin of 7.12% and a return on equity of 7.57%. The business had revenue of $879.00 million for the quarter, compared to analysts’ expectations of $953.24 million. During the same period in the prior year, the company posted $0.91 EPS. The firm’s revenue was down 5.3% on a year-over-year basis. As a group, sell-side analysts expect that Portland General Electric Company will post 3.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. BMO Capital Markets lowered their price objective on Portland General Electric from $55.00 to $54.00 and set a “market perform” rating on the stock in a report on Wednesday. Zacks Research cut Portland General Electric from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. Wells Fargo & Company set a $51.00 target price on Portland General Electric in a research report on Tuesday, April 21st. JPMorgan Chase & Co. lifted their price target on 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, Weiss Ratings reiterated a “hold (c+)” rating on shares of Portland General Electric in a research report on Friday, May 15th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $50.90.

Insider Activity

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 7,500 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $49.03, for a total transaction of $367,725.00. Following the transaction, the chief financial officer owned 31,897 shares of the company’s stock, valued at approximately $1,563,909.91. The trade was a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Juan Diego Gallegos sold 2,750 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $48.67, for a total value of $133,842.50. Following the completion of the sale, the vice president owned 12,127 shares of the company’s stock, valued at approximately $590,221.09. The trade was a 18.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company 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.