Entropy Technologies LP Acquires New Position in Portland General Electric Company $POR

Entropy Technologies LP bought a new position in Portland General Electric Company (NYSE:PORFree Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 41,917 shares of the utilities provider’s stock, valued at approximately $2,212,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Natixis Advisors LLC boosted its position in shares of Portland General Electric by 0.6% in the fourth quarter. Natixis Advisors LLC now owns 35,548 shares of the utilities provider’s stock worth $1,706,000 after purchasing an additional 207 shares during the period. Sigma Planning Corp lifted its stake in shares of Portland General Electric by 3.9% during the 4th quarter. Sigma Planning Corp now owns 5,663 shares of the utilities provider’s stock valued at $272,000 after buying an additional 210 shares in the last quarter. First Citizens Bank & Trust Co. lifted its stake in shares of Portland General Electric by 2.0% during the 1st quarter. First Citizens Bank & Trust Co. now owns 10,997 shares of the utilities provider’s stock valued at $580,000 after buying an additional 218 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Portland General Electric by 18.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,469 shares of the utilities provider’s stock worth $71,000 after buying an additional 226 shares in the last quarter. Finally, Fox Hill Wealth Management increased its stake in Portland General Electric by 0.6% in the 4th quarter. Fox Hill Wealth Management now owns 39,373 shares of the utilities provider’s stock worth $1,890,000 after buying an additional 237 shares in the last quarter.

Portland General Electric Stock Performance

Shares of NYSE:POR opened at $52.03 on Monday. The firm has a fifty day simple moving average of $51.07 and a two-hundred day simple moving average of $51.28. Portland General Electric Company has a 52 week low of $39.85 and a 52 week high of $54.62. The company has a quick ratio of 0.95, a current ratio of 1.09 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $6.02 billion, a P/E ratio of 23.23, a PEG ratio of 2.19 and a beta of 0.52.

Portland General Electric (NYSE:PORGet Free Report) last announced its earnings results on Thursday, April 30th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.19). The business had revenue of $879.00 million for the quarter, compared to analysts’ expectations of $953.24 million. Portland General Electric had a net margin of 7.12% and a return on equity of 7.57%. During the same quarter in the prior year, the company posted $0.91 earnings per share. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, analysts expect that Portland General Electric Company will post 3.39 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, September 25th will be given a dividend of $0.5513 per share. The ex-dividend date is Friday, September 25th. This represents a $2.21 dividend on an annualized basis and a yield of 4.2%. Portland General Electric’s dividend payout ratio is 98.21%.

Insider Buying and Selling at Portland General Electric

In related news, Director Robert N. Hoglund acquired 2,000 shares of the stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $48.80 per share, with a total value of $97,600.00. Following the purchase, the director directly owned 2,519 shares of the company’s stock, valued at approximately $122,927.20. This trade represents a 385.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Juan Diego Gallegos sold 2,750 shares of Portland General Electric stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $48.67, for a total value of $133,842.50. Following the completion of the transaction, the vice president owned 12,127 shares of the company’s stock, valued at approximately $590,221.09. This trade represents a 18.48% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on POR. Wells Fargo & Company set a $51.00 price objective on Portland General Electric in a research report on Tuesday, April 21st. Zacks Research cut Portland General Electric from a “hold” rating to a “strong sell” rating in a research report on Monday, July 6th. JPMorgan Chase & Co. lifted their target price on Portland General Electric from $51.00 to $54.00 and gave the company a “neutral” rating in a research note on Monday, April 20th. BMO Capital Markets reduced their price target on shares of Portland General Electric from $55.00 to $54.00 and set a “market perform” rating on the stock in a report on Wednesday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Portland General Electric in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Portland General Electric has an average rating of “Reduce” and a consensus target price of $50.90.

Check Out Our Latest Report on POR

Portland General Electric News Summary

Here are the key news stories impacting Portland General Electric this week:

About Portland General Electric

(Free Report)

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.

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

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