Portland General Electric Company (POR): Are Hedge Funds Right About This Stock?

Page 1 of 2

Is Portland General Electric Company (NYSE:POR) ready to rally soon? Money managers are in an optimistic mood. The number of bullish hedge fund positions improved by 2 in recent months.

Portland General Electric Company (NYSE:POR)

To most investors, hedge funds are perceived as underperforming, old financial vehicles of yesteryear. While there are over 8000 funds in operation today, we at Insider Monkey choose to focus on the elite of this group, about 450 funds. It is estimated that this group oversees most of the smart money’s total capital, and by watching their best stock picks, we have deciphered a number of investment strategies that have historically outpaced Mr. Market. Our small-cap hedge fund strategy beat the S&P 500 index by 18 percentage points annually for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have outpaced the S&P 500 index by 23.3 percentage points in 8 months (check out a sample of our picks).

Equally as key, positive insider trading activity is another way to break down the investments you’re interested in. Obviously, there are a variety of reasons for an upper level exec to drop shares of his or her company, but just one, very simple reason why they would initiate a purchase. Various academic studies have demonstrated the valuable potential of this method if investors understand what to do (learn more here).

Keeping this in mind, let’s take a peek at the key action encompassing Portland General Electric Company (NYSE:POR).

How have hedgies been trading Portland General Electric Company (NYSE:POR)?

Heading into Q2, a total of 14 of the hedge funds we track held long positions in this stock, a change of 17% from the first quarter. With hedge funds’ sentiment swirling, there exists a select group of notable hedge fund managers who were boosting their holdings significantly.

Of the funds we track, Dreman Value Management, managed by David Dreman, holds the most valuable position in Portland General Electric Company (NYSE:POR). Dreman Value Management has a $37.7 million position in the stock, comprising 1% of its 13F portfolio. Coming in second is Adage Capital Management, managed by Phill Gross and Robert Atchinson, which held a $24.3 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Some other hedge funds that hold long positions include Clint Carlson’s Carlson Capital, Jim Simons’s Renaissance Technologies and Cliff Asness’s AQR Capital Management.

Now, key hedge funds have jumped into Portland General Electric Company (NYSE:POR) headfirst. Millennium Management, managed by Israel Englander, assembled the biggest position in Portland General Electric Company (NYSE:POR). Millennium Management had 4.9 million invested in the company at the end of the quarter. Joel Greenblatt’s Gotham Asset Management also made a $2.9 million investment in the stock during the quarter. The other funds with brand new POR positions are Steven Cohen’s SAC Capital Advisors, Matthew Tewksbury’s Stevens Capital Management, and Matthew Hulsizer’s PEAK6 Capital Management.

Insider trading activity in Portland General Electric Company (NYSE:POR)

Insider trading activity, especially when it’s bullish, is best served when the company we’re looking at has seen transactions within the past six months. Over the last half-year time period, Portland General Electric Company (NYSE:POR) has seen zero unique insiders purchasing, and 1 insider sales (see the details of insider trades here).

Let’s also review hedge fund and insider activity in other stocks similar to Portland General Electric Company (NYSE:POR). These stocks are Hawaiian Electric Industries, Inc. (NYSE:HE), Black Hills Corp (NYSE:BKH), UIL Holdings Corporation (NYSE:UIL), UNS Energy Corp (NYSE:UNS), and IDACORP Inc (NYSE:IDA). This group of stocks are in the electric utilities industry and their market caps are similar to POR’s market cap.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!