Engineers Gate Manager LP Purchases 61,297 Shares of Portland General Electric Company $POR

Engineers Gate Manager LP raised its holdings in Portland General Electric Company (NYSE:POR) by 323.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 80,264 shares of the utilities provider’s stock after purchasing an additional 61,297 shares during the period. Engineers Gate Manager LP’s holdings in Portland General Electric were worth $4,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in POR. BlackRock Inc. boosted its position in shares of Portland General Electric by 7.4% during the 2nd 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 in the last quarter. California State Teachers Retirement System raised its position in Portland General Electric by 4,959.5% in the second quarter. California State Teachers Retirement System now owns 6,896,396 shares of the utilities provider’s stock worth $357,440,000 after purchasing an additional 6,760,091 shares in the last quarter. State Street Corp raised its position in Portland General Electric by 3.4% in the fourth quarter. State Street Corp now owns 4,728,784 shares of the utilities provider’s stock worth $229,333,000 after purchasing an additional 156,164 shares in the last quarter. Clearbridge Investments LLC lifted its stake in 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 worth $222,824,000 after purchasing an additional 4,321,305 shares during the period. Finally, AQR Capital Management LLC lifted its stake in Portland General Electric by 42.2% during the fourth quarter. AQR Capital Management LLC now owns 3,551,731 shares of the utilities provider’s stock worth $170,448,000 after purchasing an additional 1,054,450 shares during the period.

Wall Street Analysts Forecast Growth

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

Portland General Electric Stock Performance

POR stock opened at $48.30 on Friday. The company has a 50 day moving average price of $50.44 and a 200 day moving average price of $51.06. The stock has a market capitalization of $5.68 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 2.08 and a beta of 0.51. Portland General Electric Company has a fifty-two week low of $41.80 and a fifty-two week high of $54.62. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.98 and a quick ratio of 0.86.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.01). The firm had revenue of $814.00 million for the quarter, compared to analyst estimates of $839.75 million. Portland General Electric had a net margin of 7.27% and a return on equity of 7.47%. The company’s revenue was up .9% compared to the same quarter last year. During the same period last year, the company earned $0.66 EPS. Analysts forecast that Portland General Electric Company will post 3.4 EPS for the current year.

Portland General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, September 25th will be issued a $0.5513 dividend. This represents a $2.21 annualized dividend and a yield of 4.6%. The ex-dividend date is Friday, September 25th. Portland General Electric’s dividend payout ratio is currently 96.92%.

Insider Transactions at Portland General Electric

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

About Portland General Electric

Portland General Electric Company (NYSE: POR) is an investor-owned electric utility that generates, purchases, transmits, distributes and sells electricity in Oregon. The company serves residential, commercial, industrial and other customers, offering electric delivery and related energy services across its service territory.

Founded in 1889, Portland General Electric is headquartered in Portland, Oregon, and serves communities in the Portland metropolitan area and the Willamette Valley, among other parts of the state.