Is Portland General Electric Company (POR) Worthy of Your Portfolio?

Seeing as Portland General Electric Company (NYSE:POR) has witnessed falling interest from hedge fund managers, it’s safe to say that there exists a select few money managers who sold off their positions entirely during the third quarter. Interestingly, Phill Gross and Robert Atchinson’s Adage Capital Management cashed in the biggest investment of all the hedgies followed by Insider Monkey, valued at close to $44.1 million in stock, and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital was right behind this move, as the fund cut about $10.8 million worth of shares.

Let’s check out hedge fund activity in other stocks similar to Portland General Electric Company (NYSE:POR). These stocks are Tallgrass Energy GP LP (NYSE:TEGP), USG Corporation (NYSE:USG), Cabelas Inc (NYSE:CAB), and Sally Beauty Holdings, Inc. (NYSE:SBH). This group of stocks’ market caps resemble POR’s market cap.

As you can see these stocks had an average of 20 funds with bullish positions and the average amount invested in these stocks was $625 million, which is higher than the $89 million figure in POR’s case. Cabelas Inc (NYSE:CAB) is the most popular stock in this table. On the other hand Tallgrass Energy GP LP (NYSE:TEGP) is the least popular one with only six investors holding long positions. Portland General Electric Company (NYSE:POR) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Cabelas Inc (NYSE:CAB) might be a better candidate to consider taking a long position in.

Disclosure: none