Lombardia Capital Partners Lowers stake in Portland General Electric Company (POR)

Portland General Electric Company (POR) : Lombardia Capital Partners reduced its stake in Portland General Electric Company by 7.08% during the most recent quarter end. The investment management company now holds a total of 1,119,569 shares of Portland General Electric Company which is valued at $46.3 Million after selling 85,267 shares in Portland General Electric Company , the firm said in a disclosure report filed with the SEC on May 13, 2016.Portland General Electric Company makes up approximately 2.79% of Lombardia Capital Partners’s portfolio.

Other Hedge Funds, Including , Renaissance Technologies boosted its stake in POR in the latest quarter, The investment management firm added 105,700 additional shares and now holds a total of 580,000 shares of Portland General Electric Company which is valued at $24 Million. Portland General Electric Company makes up approx 0.05% of Renaissance Technologies’s portfolio.Opus Investment Management Inc boosted its stake in POR in the latest quarter, The investment management firm added 10,000 additional shares and now holds a total of 133,600 shares of Portland General Electric Company which is valued at $5.5 Million. Portland General Electric Company makes up approx 1.06% of Opus Investment Management Inc’s portfolio. United Services Automobile Association sold out all of its stake in POR during the most recent quarter. The investment firm sold 273,000 shares of POR which is valued $11.3 Million.Blackrock Institutional Trust Company N.a. boosted its stake in POR in the latest quarter, The investment management firm added 111,133 additional shares and now holds a total of 2,319,373 shares of Portland General Electric Company which is valued at $96 Million. Portland General Electric Company makes up approx 0.02% of Blackrock Institutional Trust Company N.a.’s portfolio.Nordea Investment Management Ab reduced its stake in POR by selling 700 shares or 0.91% in the most recent quarter. The Hedge Fund company now holds 76,300 shares of POR which is valued at $3 Million. Portland General Electric Company makes up approx 0.01% of Nordea Investment Management Ab’s portfolio.

Portland General Electric Company closed down -0.46 points or -1.14% at $39.89 with 4,73,691 shares getting traded on Wednesday. Post opening the session at $40.19, the shares hit an intraday low of $39.82 and an intraday high of $40.49 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Portland General Electric Company reported $0.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $0.61. The company had revenue of $487.00 million for the quarter, compared to analysts expectations of $468.55 million. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS.

Investors should note that on Apr 27, 2016, Portland General Electric Company announced a cash dividend of $0.3200. The company’s management has announced Jun 23, 2016 as the ex-dividend date and fixed the record date on Jun 27, 2016. The payable date has been fixed on Jul 15, 2016.

Many Wall Street Analysts have commented on Portland General Electric Company. Portland General Electric Company was Downgraded by Wellington Shields to ” Hold” on Mar 4, 2016. Portland General Electric Company was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on Feb 16, 2016.

Portland General Electric Company (PGE) is a vertically integrated electric utility company engaged in the generation wholesale purchase transmission distribution and retail sale of electricity in the state of Oregon. The Company also sells electricity and natural gas in the wholesale market to utilities brokers and power marketers. The Company’s resources consist of six thermal plants which include natural gas- and coal-fired turbines two wind farms and seven hydroelectric plants. The Company has a resource capacity of approximately 1389 megawatts (MW) of natural gas 814 MW of coal 717 MW of wind and 494 MW of hydro. The Company has contractual rights for transmission lines that deliver electricity from its generation facilities to its distribution system in its service territory and to the Western Interconnection. The Company has four natural gas-fired generating facilities: Port Westward Unit 1 Port Westward Unit 2 Beaver and Coyote Springs Unit 1 (Coyote Springs).

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