Hsbc Holdings PLC Has $13.47 Million Stake in Portland General Electric Company $POR

Hsbc Holdings PLC grew its holdings in shares of Portland General Electric Company (NYSE:POR) by 1,593.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 255,634 shares of the utilities provider’s stock after acquiring an additional 240,541 shares during the period. Hsbc Holdings PLC owned 0.22% of Portland General Electric worth $13,473,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in POR. Vanguard Group Inc. boosted its position in shares of Portland General Electric by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 13,020,573 shares of the utilities provider’s stock valued at $624,857,000 after purchasing an additional 513,517 shares in the last quarter. State Street Corp increased its holdings in Portland General Electric by 3.4% in the fourth quarter. State Street Corp now owns 4,728,784 shares of the utilities provider’s stock worth $229,333,000 after purchasing an additional 156,164 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Portland General Electric by 1,342.7% in the fourth quarter. Clearbridge Investments LLC now owns 4,643,134 shares of the utilities provider’s stock worth $222,824,000 after purchasing an additional 4,321,305 shares in the last quarter. AQR Capital Management LLC lifted its stake in Portland General Electric by 42.2% in the fourth quarter. AQR Capital Management LLC now owns 3,551,731 shares of the utilities provider’s stock valued at $170,448,000 after buying an additional 1,054,450 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Portland General Electric by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 2,805,796 shares of the utilities provider’s stock valued at $134,680,000 after buying an additional 73,185 shares during the period.

Portland General Electric Price Performance

Shares of NYSE:POR opened at $52.94 on Thursday. Portland General Electric Company has a twelve month low of $39.73 and a twelve month high of $54.62. The stock’s 50 day moving average is $50.89 and its 200-day moving average is $51.23. 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 firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of 23.63, a PEG ratio of 2.19 and a beta of 0.52.

Portland General Electric (NYSE:POR) last posted its quarterly 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 during the quarter, compared to analyst estimates of $953.24 million. Portland General Electric had a net margin of 7.12% and a return on equity of 7.57%. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.91 EPS. Sell-side analysts forecast that Portland General Electric Company will post 3.4 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Thursday, June 25th were issued a $0.5513 dividend. The ex-dividend date was Thursday, June 25th. This represents a $2.21 dividend on an annualized basis and a dividend yield of 4.2%. This is a boost from Portland General Electric’s previous quarterly dividend of $0.53. Portland General Electric’s dividend payout ratio (DPR) is currently 98.21%.

Insider Buying and Selling

In related news, Director Robert N. Hoglund acquired 2,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was purchased at an average cost of $48.80 per share, with a total value of $97,600.00. Following the acquisition, the director owned 2,519 shares of the company’s stock, valued at approximately $122,927.20. This trade represents a 385.36% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Juan Diego Gallegos sold 2,750 shares of the 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 sale, the vice president directly owned 12,127 shares of the company’s stock, valued at approximately $590,221.09. This trade represents a 18.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.52% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

POR has been the subject of several recent analyst reports. Zacks Research downgraded shares of Portland General Electric from a “hold” rating to a “strong sell” rating in a research report on Monday, July 6th. BMO Capital Markets dropped their target price on shares of Portland General Electric from $55.00 to $54.00 and set a “market perform” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. increased 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. Weiss Ratings restated a “hold (c+)” rating on shares of Portland General Electric in a report on Friday, May 15th. Finally, Wells Fargo & Company set a $51.00 price target on shares of Portland General Electric in a research note on Tuesday, April 21st. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $50.90.

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.