Louisiana State Employees Retirement System Invests $1.72 Million in Portland General Electric Company $POR

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

Other hedge funds and other institutional investors have also modified their holdings of the company. A. D. Beadell Investment Counsel Inc. increased its stake in Portland General Electric by 18.2% during the 1st quarter. A. D. Beadell Investment Counsel Inc. now owns 33,035 shares of the utilities provider’s stock valued at $1,743,000 after buying an additional 5,080 shares during the period. SG Americas Securities LLC lifted its stake in shares of Portland General Electric by 1,251.4% in the 1st quarter. SG Americas Securities LLC now owns 213,163 shares of the utilities provider’s stock worth $11,249,000 after acquiring an additional 197,390 shares during the period. Evolve Private Wealth LLC boosted its holdings in shares of Portland General Electric by 9.8% in the first quarter. Evolve Private Wealth LLC now owns 4,723 shares of the utilities provider’s stock valued at $249,000 after acquiring an additional 422 shares in the last quarter. Diversified Trust Co boosted its holdings in shares of Portland General Electric by 25.0% in the first quarter. Diversified Trust Co now owns 22,254 shares of the utilities provider’s stock valued at $1,174,000 after acquiring an additional 4,455 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in shares of Portland General Electric by 33.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,682 shares of the utilities provider’s stock valued at $177,000 after acquiring an additional 927 shares during the period.

Portland General Electric Stock Performance

Shares of POR opened at $51.51 on Thursday. The firm’s 50 day moving average is $50.12 and its 200-day moving average is $50.76. The stock has a market capitalization of $5.96 billion, a P/E ratio of 22.99, a P/E/G ratio of 2.17 and a beta of 0.52. 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 released its earnings results on Thursday, April 30th. The utilities provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.19). Portland General Electric had a return on equity of 7.57% and a net margin of 7.12%.The business 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 firm earned $0.91 earnings per share. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. Equities research analysts anticipate that Portland General Electric Company will post 3.39 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, June 25th will be issued a $0.5513 dividend. This is an increase from Portland General Electric’s previous quarterly dividend of $0.53. This represents a $2.21 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Thursday, June 25th. Portland General Electric’s dividend payout ratio is currently 98.21%.

Insider Buying and Selling at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 7,500 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $49.03, for a total transaction of $367,725.00. Following the completion of the sale, the chief financial officer owned 31,897 shares in the company, valued at approximately $1,563,909.91. This represents a 19.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert N. Hoglund acquired 2,000 shares of Portland General Electric stock in a transaction dated Monday, May 11th. The shares were bought at an average cost of $48.80 per share, with a total value of $97,600.00. Following the completion of the purchase, the director owned 2,519 shares in the company, valued at approximately $122,927.20. This represents a 385.36% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.52% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Portland General Electric Company Profile

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.