Portland General Electric (POR) Short Interest Up 51.9% in April

Portland General Electric (NYSE:POR) saw a significant increase in short interest in April. As of April 30th, there was short interest totalling 1,521,181 shares, an increase of 51.9% from the April 13th total of 1,001,537 shares. Currently, 1.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 579,007 shares, the short-interest ratio is currently 2.6 days.

POR has been the subject of several recent analyst reports. JPMorgan Chase dropped their price objective on shares of Portland General Electric from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, March 27th. Bank of America lowered shares of Portland General Electric from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $41.00 to $39.00 in a report on Tuesday, March 6th. Mizuho initiated coverage on shares of Portland General Electric in a report on Wednesday, February 14th. They set a “buy” rating and a $43.50 price objective for the company. Zacks Investment Research lowered shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. Finally, Guggenheim reaffirmed a “hold” rating and set a $40.00 price objective on shares of Portland General Electric in a report on Friday, February 23rd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Portland General Electric has a consensus rating of “Hold” and an average target price of $42.44.

In other news, VP Bradley Young Jenkins sold 618 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $40.47, for a total transaction of $25,010.46. Following the completion of the sale, the vice president now owns 896 shares of the company’s stock, valued at $36,261.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.62% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Adviser Investments LLC bought a new stake in shares of Portland General Electric during the first quarter valued at approximately $107,000. Cerebellum GP LLC bought a new stake in shares of Portland General Electric during the fourth quarter valued at approximately $122,000. Public Employees Retirement Association of Colorado bought a new position in Portland General Electric in the fourth quarter valued at approximately $161,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in Portland General Electric by 75.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,929 shares of the utilities provider’s stock valued at $225,000 after acquiring an additional 2,123 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Portland General Electric in the fourth quarter valued at approximately $226,000. 92.46% of the stock is currently owned by institutional investors and hedge funds.

POR opened at $39.66 on Friday. Portland General Electric has a one year low of $40.01 and a one year high of $40.58. The company has a current ratio of 1.35, a quick ratio of 1.15 and a debt-to-equity ratio of 0.99. The company has a market cap of $3.62 billion, a PE ratio of 17.32, a P/E/G ratio of 6.77 and a beta of 0.20.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, April 27th. The utilities provider reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.07. Portland General Electric had a net margin of 9.03% and a return on equity of 8.08%. The business had revenue of $493.00 million for the quarter, compared to analysts’ expectations of $523.28 million. During the same period in the prior year, the firm earned $0.82 earnings per share. Portland General Electric’s revenue was down 7.0% compared to the same quarter last year. equities analysts anticipate that Portland General Electric will post 2.18 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Monday, June 25th will be paid a dividend of $0.3625 per share. This is a boost from Portland General Electric’s previous quarterly dividend of $0.34. This represents a $1.45 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Friday, June 22nd. Portland General Electric’s dividend payout ratio is 59.39%.

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, 2017, it owned an electric transmission system consisting of 1,250 circuit miles, including 287 circuit miles of 500 kilovolt line, 402 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.

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