Reynders McVeigh Capital Management LLC Invests $200,000 in Portland General Electric (NYSE:POR)

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Reynders McVeigh Capital Management LLC bought a new position in shares of Portland General Electric (NYSE:POR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,700 shares of the utilities provider’s stock, valued at approximately $200,000.

Several other institutional investors have also added to or reduced their stakes in POR. Principal Financial Group Inc. grew its holdings in shares of Portland General Electric by 63.4% during the first quarter. Principal Financial Group Inc. now owns 1,101,999 shares of the utilities provider’s stock worth $57,128,000 after buying an additional 427,754 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Portland General Electric by 92.7% in the first quarter. Acadian Asset Management LLC now owns 596,688 shares of the utilities provider’s stock valued at $30,933,000 after purchasing an additional 287,013 shares during the period. Geode Capital Management LLC grew its holdings in shares of Portland General Electric by 13.1% in the fourth quarter. Geode Capital Management LLC now owns 1,470,193 shares of the utilities provider’s stock valued at $67,408,000 after purchasing an additional 170,287 shares during the period. AJO LP grew its holdings in shares of Portland General Electric by 5.7% in the first quarter. AJO LP now owns 2,695,820 shares of the utilities provider’s stock valued at $139,751,000 after purchasing an additional 146,152 shares during the period. Finally, Great West Life Assurance Co. Can grew its holdings in shares of Portland General Electric by 1,250.3% in the first quarter. Great West Life Assurance Co. Can now owns 142,806 shares of the utilities provider’s stock valued at $7,381,000 after purchasing an additional 132,230 shares during the period. 93.73% of the stock is owned by institutional investors and hedge funds.

Shares of POR traded down $0.90 during mid-day trading on Friday, reaching $55.75. The stock had a trading volume of 297,493 shares, compared to its average volume of 512,774. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.00 and a quick ratio of 0.77. Portland General Electric has a 52-week low of $43.73 and a 52-week high of $56.97. The business’s fifty day moving average is $55.25 and its 200 day moving average is $52.88. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 23.52, a P/E/G ratio of 4.93 and a beta of 0.21.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, August 2nd. The utilities provider reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.23). The company had revenue of $460.00 million for the quarter, compared to analysts’ expectations of $466.66 million. Portland General Electric had a return on equity of 7.93% and a net margin of 9.61%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business earned $0.51 EPS. As a group, sell-side analysts anticipate that Portland General Electric will post 2.41 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, September 25th will be paid a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Tuesday, September 24th. Portland General Electric’s dividend payout ratio (DPR) is presently 64.98%.

Separately, Zacks Investment Research raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $50.00.

Portland General Electric Company Profile

Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. The company operates seven thermal plants; seven hydroelectric plants; and two wind farms. As of December 31, 2018, it owned an electric transmission system consisting of 1,256 circuit miles, including 287 circuit miles of 500 kilovolt line, 410 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.

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

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