General Electric Company (GE) Stake Cut by North American Management Corp

Xavier Trudeau
Августа 12, 2017

Media stories about Portland General Electric (NYSE:POR) have been trending somewhat negative this week, Accern Sentiment reports. The firm owned 383,162 shares of the conglomerate's stock after buying an additional 23,992 shares during the period. General Electric's payout ratio is 118.52%. TNB Financial's holdings in General Electric were worth $10,349,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Jarislowsky Fraser upped its stake in General Electric by 5.5% in the Q4. Dalton Greiner Hartman Maher & Co. now owns 302,212 shares of the utilities provider's stock worth $13,424,000 after buying an additional 90,282 shares during the last quarter. Smithbridge Asset Management Inc. Renaissance Technologies LLC now owns 1,155,300 shares of the utilities provider's stock valued at $51,318,000 after buying an additional 248,300 shares during the last quarter. Feltz Wealth PLAN Inc. purchased a new position in General Electric during the first quarter worth about $114,000. Finally, Boston Advisors LLC increased its stake in Portland General Electric by 735.1% in the first quarter. Smith Shellnut Wilson LLC ADV now owns 22,582 shares of the conglomerate's stock worth $711,000 after buying an additional 160 shares during the last quarter. "Continues to Hold Stake in Portland General Electric Company (NYSE:POR)" was reported by Community Financial News and is the property of of Community Financial News. Dimensional Fund Advisors Lp bolstered its stake by buying 451,409 shares an increase of 2.2% from 03/31/2017 to 06/30/2017. Institutional investors and hedge funds own 54.29% of the company's stock.

General Electric (NYSE GE) traded down 0.40% on Monday, reaching $25.20. The stock has a 50 day moving average price of $26.28 and a 200-day moving average price of $28.52. General Electric has a 52-week low of $25.19 and a 52-week high of $32.38.

The company now has a P/E ratio of 30.69 and market cap is 218.18B. The business's revenue was up 4.9% compared to the same quarter past year. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03.

Portland General Electric Company is an electric utility that is engaged in the wholesale purchase, transmission, distribution and retail sale of electricity in the State of Oregon. The company had revenue of $29.56 billion for the quarter, compared to analysts' expectations of $29.07 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The firm's revenue was down 11.8% on a year-over-year basis. In the last earnings report the EPS was $0.82 and is projected to be $1.57 for the current year with 8,657,946,000 shares outstanding.

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.81%.

Portland General Electric (NYSE POR) opened at 45.90 on Friday. Williams Capital cut shares of Portland General Electric from a "hold" rating to a "sell" rating and dropped their target price for the company from $44.00 to $41.00 in a report on Monday, July 24th. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States and worldwide copyright laws. The correct version of this report can be viewed at https://www.themarketsdaily.com/2017/08/12/general-electric-company-ge-stake-cut-by-north-american-management-corp-updated-updated.html.

POR has been the subject of several analyst reports. Citigroup Inc. restated a "buy" rating and set a $34.00 target price (down previously from $36.00) on shares of General Electric in a research note on Monday, July 10th. UBS AG downgraded Portland General Electric from a "buy" rating to a "neutral" rating in a report on Tuesday, May 2nd. On June 29 the stock rating was upgraded to "Sell" from "Sell" by Standpoint Research. Credit Suisse Group's target price suggests a potential upside of 30.95% from the company's previous close.

In related news, insider William O. Nicholson sold 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $45.01, for a total transaction of $135,030.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The shares were bought at an average price of $27.70 per share, for a total transaction of $110,800.00. Following the transaction, the vice president now owns 20,424 shares of the company's stock, valued at $919,284.24. The disclosure for this purchase can be found here.

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