Hennion & Walsh Asset Management Inc. Grows Position in Portland General Electric Company $POR

Hennion & Walsh Asset Management Inc. increased its holdings in shares of Portland General Electric Company (NYSE:POR) by 110.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,078 shares of the utilities provider’s stock after purchasing an additional 14,726 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Portland General Electric were worth $1,455,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Versant Capital Management Inc lifted its position in Portland General Electric by 426.4% in the second quarter. Versant Capital Management Inc now owns 2,369 shares of the utilities provider’s stock valued at $123,000 after buying an additional 1,919 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Portland General Electric by 23.9% during the first quarter. Pacer Advisors Inc. now owns 16,583 shares of the utilities provider’s stock valued at $875,000 after acquiring an additional 3,197 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Portland General Electric by 14.8% during the first quarter. Parallel Advisors LLC now owns 5,673 shares of the utilities provider’s stock valued at $299,000 after acquiring an additional 730 shares during the last quarter. Segall Bryant & Hamill LLC raised its stake in shares of Portland General Electric by 5.1% in the 1st quarter. Segall Bryant & Hamill LLC now owns 118,094 shares of the utilities provider’s stock valued at $6,232,000 after acquiring an additional 5,780 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Portland General Electric by 60.6% in the 1st quarter. Bank of America Corp DE now owns 1,660,446 shares of the utilities provider’s stock valued at $87,622,000 after acquiring an additional 626,223 shares during the period.

Analyst Ratings Changes

POR has been the subject of a number of research analyst reports. Zacks Research raised shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. BMO Capital Markets set a $52.00 price target on Portland General Electric in a research note on Tuesday, August 4th. Weiss Ratings upgraded Portland General Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 3rd. Wells Fargo & Company set a $51.00 price objective on Portland General Electric in a research note on Tuesday, April 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of Portland General Electric from $51.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $50.70.

Portland General Electric Price Performance

Shares of NYSE POR opened at $48.77 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 0.98. Portland General Electric Company has a fifty-two week low of $41.80 and a fifty-two week high of $54.62. The firm has a market capitalization of $5.74 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 2.08 and a beta of 0.52. The stock’s 50-day simple moving average is $51.07 and its 200-day simple moving average is $51.31.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). Portland General Electric had a net margin of 7.27% and a return on equity of 7.47%. The business had revenue of $814.00 million during the quarter, compared to analyst estimates of $839.75 million. During the same period last year, the company earned $0.66 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities research analysts forecast 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 given a $0.5513 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.21 dividend on an annualized basis and a yield of 4.5%. Portland General Electric’s payout ratio is 96.92%.

Insiders Place Their Bets

In other Portland General Electric news, Director Michael A. Lewis sold 1,537 shares of the company’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $51.83, for a total value of $79,662.71. Following the completion of the transaction, the director owned 15,045 shares in the company, valued at $779,782.35. This represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.52% of the stock is currently owned by company insiders.

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.