Squarepoint Ops LLC Has $40.10 Million Position in Portland General Electric Company $POR

Squarepoint Ops LLC increased its stake in Portland General Electric Company (NYSE:POR) by 97.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 773,692 shares of the utilities provider’s stock after purchasing an additional 381,365 shares during the period. Squarepoint Ops LLC’s holdings in Portland General Electric were worth $40,100,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. California State Teachers Retirement System increased its stake in shares of Portland General Electric by 4,959.5% in the 2nd quarter. California State Teachers Retirement System now owns 6,896,396 shares of the utilities provider’s stock valued at $357,440,000 after buying an additional 6,760,091 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Portland General Electric by 1,342.7% during the fourth quarter. Clearbridge Investments LLC now owns 4,643,134 shares of the utilities provider’s stock valued at $222,824,000 after acquiring an additional 4,321,305 shares during the period. BlackRock Inc. boosted its holdings in Portland General Electric by 7.4% in the second quarter. BlackRock Inc. now owns 18,719,655 shares of the utilities provider’s stock valued at $970,240,000 after acquiring an additional 1,292,219 shares during the last quarter. Norges Bank bought a new position in Portland General Electric in the fourth quarter valued at about $56,497,000. Finally, AQR Capital Management LLC boosted its holdings in Portland General Electric by 42.2% in the fourth quarter. AQR Capital Management LLC now owns 3,551,731 shares of the utilities provider’s stock valued at $170,448,000 after acquiring an additional 1,054,450 shares during the last quarter.

Analyst Ratings Changes

Several analysts have weighed in on POR shares. BMO Capital Markets set a $52.00 price objective on Portland General Electric in a report on Tuesday, August 4th. Zacks Research upgraded shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Weiss Ratings lowered shares of Portland General Electric from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, August 27th. Finally, LADENBURG THALM/SH SH upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and set a $48.50 price target for the company in a research report on Thursday, August 13th. Two analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Portland General Electric has an average rating of “Hold” and an average price target of $51.25.

Portland General Electric Stock Performance

POR stock opened at $49.48 on Wednesday. Portland General Electric Company has a twelve month low of $41.80 and a twelve month high of $54.62. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.26. The company has a market cap of $5.82 billion, a P/E ratio of 21.80, a price-to-earnings-growth ratio of 2.10 and a beta of 0.51. The business’s fifty day moving average is $50.67 and its 200-day moving average is $51.13.

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

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, September 25th will be given a dividend of $0.5513 per share. This represents a $2.21 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Friday, September 25th. Portland General Electric’s payout ratio is presently 96.92%.

Insider Activity at Portland General Electric

In other news, Director Michael Lewis sold 1,537 shares of the company’s stock in a transaction dated 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 sale, the director directly owned 15,045 shares of the company’s stock, valued at $779,782.35. This represents a 9.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.