Fox Run Management L.L.C. Invests $1.89 Million in Portland General Electric Company $POR

Fox Run Management L.L.C. bought a new position in Portland General Electric Company (NYSE:POR) during the fourth quarter, Holdings Channel reports. The fund bought 39,272 shares of the utilities provider’s stock, valued at approximately $1,885,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of POR. Clearbridge Investments LLC grew its position in shares of Portland General Electric by 1,342.7% in the 4th quarter. Clearbridge Investments LLC now owns 4,643,134 shares of the utilities provider’s stock worth $222,824,000 after buying an additional 4,321,305 shares during the period. Norges Bank purchased a new stake in shares of Portland General Electric in the 4th quarter worth about $56,497,000. UBS Group AG grew its position in shares of Portland General Electric by 514.3% in the 4th quarter. UBS Group AG now owns 883,162 shares of the utilities provider’s stock worth $42,383,000 after buying an additional 739,404 shares during the period. Millennium Management LLC grew its position in shares of Portland General Electric by 99.4% in the 3rd 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 period. Finally, AQR Capital Management LLC grew its position in shares of Portland General Electric by 34.1% in the 3rd 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 period.

Portland General Electric Stock Performance

Shares of Portland General Electric stock opened at $49.99 on Tuesday. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 2.12 and a beta of 0.52. The firm’s 50-day moving average is $50.80 and its 200 day moving average is $50.57. Portland General Electric Company has a 1 year low of $39.54 and a 1 year high of $54.62. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.09 and a quick ratio of 0.95.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.19). The firm had revenue of $879.00 million during the quarter, compared to the consensus estimate 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 for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 EPS. Sell-side analysts anticipate that Portland General Electric Company will post 3.39 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, June 25th will be paid a dividend of $0.5513 per share. The ex-dividend date is Thursday, June 25th. This represents a $2.21 annualized dividend and a yield of 4.4%. This is an increase from Portland General Electric’s previous quarterly dividend of $0.53. Portland General Electric’s dividend payout ratio (DPR) is currently 98.21%.

Analyst Upgrades and Downgrades

POR has been the topic of a number of recent research reports. Wells Fargo & Company set a $51.00 target price on shares of Portland General Electric in a research report on Tuesday, April 21st. BMO Capital Markets reiterated a “market perform” rating and issued a $55.00 price target on shares of Portland General Electric in a research note on Thursday, February 19th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Portland General Electric in a research note on Friday, May 15th. Barclays upped their price target on shares of Portland General Electric from $47.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 17th. Finally, UBS Group upped their price target 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. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $51.00.

Insider Buying and Selling at Portland General Electric

In related news, Director Robert N. Hoglund bought 2,000 shares of the stock in a transaction on Monday, May 11th. The shares were acquired at an average price of $48.80 per share, for a total transaction of $97,600.00. Following the purchase, the director owned 2,519 shares of the company’s stock, valued at approximately $122,927.20. The trade was a 385.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $133,842.50. Following the transaction, 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 disclosure for this sale is available in the SEC filing. 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.