Renaissance Technologies LLC Raises Stake in Portland General Electric Company (POR)

Renaissance Technologies LLC boosted its stake in shares of Portland General Electric Company (NYSE:POR) by 27.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,155,300 shares of the utilities provider’s stock after buying an additional 248,300 shares during the period. Renaissance Technologies LLC’s holdings in Portland General Electric Company were worth $51,318,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Foundry Partners LLC increased its stake in shares of Portland General Electric Company by 3.3% in the first quarter. Foundry Partners LLC now owns 256,522 shares of the utilities provider’s stock valued at $11,395,000 after buying an additional 8,168 shares during the last quarter. Becker Capital Management Inc. purchased a new stake in shares of Portland General Electric Company during the fourth quarter valued at approximately $233,000. Teachers Advisors LLC increased its stake in shares of Portland General Electric Company by 3.1% in the fourth quarter. Teachers Advisors LLC now owns 147,329 shares of the utilities provider’s stock valued at $6,384,000 after buying an additional 4,432 shares during the last quarter. First Midwest Bank Trust Division increased its stake in shares of Portland General Electric Company by 9.4% in the first quarter. First Midwest Bank Trust Division now owns 6,953 shares of the utilities provider’s stock valued at $309,000 after buying an additional 596 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Portland General Electric Company by 5.2% in the first quarter. JPMorgan Chase & Co. now owns 4,662,302 shares of the utilities provider’s stock valued at $207,099,000 after buying an additional 230,831 shares during the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Institutional Ownership by Quarter for Portland General Electric Company (NYSE:POR)

Portland General Electric Company (NYSE POR) traded down 0.13% during trading on Tuesday, reaching $47.62. 179,149 shares of the company traded hands. The firm has a 50-day moving average price of $46.27 and a 200-day moving average price of $44.63. The company has a market capitalization of $4.24 billion, a P/E ratio of 20.70 and a beta of 0.33. Portland General Electric Company has a 52 week low of $40.28 and a 52 week high of $48.06.

Portland General Electric Company (NYSE:POR) last posted its earnings results on Friday, April 28th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.82. Portland General Electric Company had a net margin of 10.43% and a return on equity of 8.78%. The firm had revenue of $530 million during the quarter, compared to analysts’ expectations of $521.97 million. During the same period in the previous year, the business posted $0.68 EPS. The business’s revenue was up 8.8% compared to the same quarter last year. Analysts forecast that Portland General Electric Company will post $2.25 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Monday, June 26th will be paid a $0.34 dividend. This is a boost from Portland General Electric Company’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Thursday, June 22nd. Portland General Electric Company’s payout ratio is currently 55.65%.

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Several analysts have recently commented on POR shares. Zacks Investment Research downgraded shares of Portland General Electric Company from a “hold” rating to a “sell” rating in a research report on Friday, March 17th. Wolfe Research downgraded shares of Portland General Electric Company from a “market perform” rating to an “underperform” rating in a research report on Tuesday, February 21st. Finally, Barclays PLC restated an “underweight” rating and set a $44.00 price objective (up from $41.00) on shares of Portland General Electric Company in a research report on Sunday, April 23rd. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $44.20.

In other Portland General Electric Company news, VP Campbell A. Henderson sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $45.01, for a total transaction of $135,030.00. Following the completion of the transaction, the vice president now directly owns 20,424 shares in the company, valued at $919,284.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William O. Nicholson sold 6,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $45.10, for a total transaction of $270,600.00. Following the transaction, the insider now owns 16,313 shares of the company’s stock, valued at $735,716.30. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

Portland General Electric Company Company Profile

Portland General Electric Company is an electric utility that is engaged in the wholesale purchase, transmission, distribution and retail sale of electricity in the State of Oregon. Its service area allocation of approximately 4,000 square miles is located entirely within Oregon and includes approximately 51 incorporated cities, of which Portland and Salem.

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