Tidal Investments LLC Increases Stock Position in Portland General Electric Company $POR

Tidal Investments LLC boosted its holdings in Portland General Electric Company (NYSE:POR) by 125.4% in the 2nd quarter, Holdings Channel reports. The firm owned 46,238 shares of the utilities provider’s stock after purchasing an additional 25,727 shares during the period. Tidal Investments LLC’s holdings in Portland General Electric were worth $2,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Rothschild Investment LLC increased its stake in Portland General Electric by 112.9% in the fourth quarter. Rothschild Investment LLC now owns 611 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 324 shares during the period. SHP Wealth Management purchased a new position in shares of Portland General Electric during the fourth quarter worth about $34,000. Root Financial Partners LLC increased its position in Portland General Electric by 55.8% in the 1st quarter. Root Financial Partners LLC now owns 1,014 shares of the utilities provider’s stock valued at $54,000 after acquiring an additional 363 shares during the period. State of Wyoming raised its stake in Portland General Electric by 32.9% during the 2nd quarter. State of Wyoming now owns 1,193 shares of the utilities provider’s stock valued at $62,000 after acquiring an additional 295 shares during the last quarter. Finally, Allworth Financial LP lifted its position in Portland General Electric by 16.0% during the 4th quarter. Allworth Financial LP now owns 2,426 shares of the utilities provider’s stock worth $116,000 after acquiring an additional 334 shares during the period.

Insider Buying and Selling

In related news, Director Michael Lewis sold 1,537 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $51.83, for a total transaction of $79,662.71. Following the transaction, the director directly owned 15,045 shares in the company, valued at $779,782.35. This trade represents a 9.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.52% of the company’s stock.

Portland General Electric Stock Down 1.4%

Shares of NYSE POR opened at $47.41 on Wednesday. The firm’s 50-day moving average is $50.26 and its two-hundred day moving average is $50.96. The company has a market capitalization of $5.58 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 2.07 and a beta of 0.51. Portland General Electric Company has a 12-month low of $41.80 and a 12-month 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 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). Portland General Electric had a return on equity of 7.47% and a net margin of 7.27%.The firm had revenue of $814.00 million for the quarter, compared to analysts’ expectations of $839.75 million. During the same quarter last year, the firm earned $0.66 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. Equities analysts anticipate that Portland General Electric Company will post 3.4 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.21 annualized dividend and a yield of 4.7%. Portland General Electric’s dividend payout ratio is currently 96.92%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on POR. BMO Capital Markets set a $52.00 target price on Portland General Electric in a report on Tuesday, August 4th. Weiss Ratings cut shares of Portland General Electric from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, August 27th. LADENBURG THALM/SH SH upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and set a $48.50 target price for the company in a research note on Thursday, August 13th. Zacks Research raised shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. cut their price target on shares of Portland General Electric from $56.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday, September 9th. Two research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $51.15.

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.