Louisiana State Employees Retirement System Acquires New Position in Portland General Electric Company $POR

Louisiana State Employees Retirement System acquired a new stake in shares of Portland General Electric Company (NYSE:POR) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 32,600 shares of the utilities provider’s stock, valued at approximately $1,720,000.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Portland General Electric by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 13,020,573 shares of the utilities provider’s stock valued at $624,857,000 after acquiring an additional 513,517 shares in the last quarter. State Street Corp increased its stake in Portland General Electric by 3.4% during the fourth quarter. State Street Corp now owns 4,728,784 shares of the utilities provider’s stock valued at $229,333,000 after purchasing an additional 156,164 shares during the last quarter. Clearbridge Investments LLC increased its stake in Portland General Electric by 1,342.7% during the fourth quarter. Clearbridge Investments LLC now owns 4,643,134 shares of the utilities provider’s stock valued at $222,824,000 after purchasing an additional 4,321,305 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Portland General Electric by 42.2% during the fourth quarter. AQR Capital Management LLC now owns 3,551,731 shares of the utilities provider’s stock worth $170,448,000 after purchasing an additional 1,054,450 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Portland General Electric by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 2,805,796 shares of the utilities provider’s stock worth $134,680,000 after purchasing an additional 73,185 shares during the period.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, VP Juan Diego Gallegos sold 2,750 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $48.67, for a total transaction of $133,842.50. Following the completion of the transaction, the vice president directly owned 12,127 shares of the company’s stock, valued at $590,221.09. The trade was a 18.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert N. Hoglund purchased 2,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $48.80 per share, for a total transaction of $97,600.00. Following the purchase, the director directly owned 2,519 shares of the company’s stock, valued at $122,927.20. This trade represents a 385.36% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.52% of the stock is currently owned by company insiders.

Portland General Electric Price Performance

Shares of POR opened at $51.51 on Thursday. The company has a market cap of $5.96 billion, a P/E ratio of 22.99, a PEG ratio of 2.17 and a beta of 0.52. The stock has a fifty day moving average price of $50.12 and a 200 day moving average price of $50.76. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.09 and a quick ratio of 0.95. Portland General Electric Company has a 12 month low of $39.73 and a 12 month high of $54.62.

Portland General Electric (NYSE:POR) last posted its earnings results on Thursday, April 30th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.19). Portland General Electric had a net margin of 7.12% and a return on equity of 7.57%. The company had revenue of $879.00 million during the quarter, compared to the consensus estimate of $953.24 million. During the same quarter in the previous year, the business posted $0.91 earnings per share. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, research analysts forecast that Portland General Electric Company will post 3.39 earnings per share for the current year.

Portland General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, June 25th will be given a $0.5513 dividend. The ex-dividend date is Thursday, June 25th. This represents a $2.21 annualized dividend and a yield of 4.3%. This is a boost from Portland General Electric’s previous quarterly dividend of $0.53. Portland General Electric’s payout ratio is 98.21%.

Analysts Set New Price Targets

Several research firms have recently commented on POR. Wells Fargo & Company set a $51.00 price target on shares of Portland General Electric in a report on Tuesday, April 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Portland General Electric in a research note on Friday, May 15th. Finally, JPMorgan Chase & Co. raised their target price on shares of Portland General Electric from $51.00 to $54.00 and gave the stock a “neutral” rating in a report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $51.00.

About Portland General Electric

Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon’s largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.