Louisiana State Employees Retirement System Has $1.37 Million Stake in Portland General Electric (NYSE:POR)

Louisiana State Employees Retirement System decreased its stake in shares of Portland General Electric (NYSE:POR) by 1.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 28,600 shares of the utilities provider’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Portland General Electric were worth $1,370,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in POR. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Portland General Electric during the 2nd quarter valued at about $31,557,000. Marshall Wace LLP grew its holdings in Portland General Electric by 657.0% in the 2nd quarter. Marshall Wace LLP now owns 314,688 shares of the utilities provider’s stock valued at $13,607,000 after buying an additional 273,118 shares during the last quarter. Systematic Financial Management LP grew its holdings in Portland General Electric by 83.4% in the 2nd quarter. Systematic Financial Management LP now owns 424,701 shares of the utilities provider’s stock valued at $18,364,000 after buying an additional 193,164 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Portland General Electric in the 2nd quarter valued at approximately $7,459,000. Finally, Natixis Advisors LLC grew its holdings in Portland General Electric by 91.7% in the 2nd quarter. Natixis Advisors LLC now owns 312,313 shares of the utilities provider’s stock valued at $13,505,000 after buying an additional 149,429 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd. Bank of America assumed coverage on Portland General Electric in a report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price on the stock. Evercore ISI assumed coverage on Portland General Electric in a report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price on the stock. JPMorgan Chase & Co. raised their target price on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Barclays reduced their price objective on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $48.13.

Insiders Place Their Bets

In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total value of $50,875.00. Following the transaction, the vice president now owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the sale, the senior vice president now owns 14,263 shares in the company, valued at $688,902.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP John Teeruk Kochavatr sold 1,100 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total value of $50,875.00. Following the sale, the vice president now owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Portland General Electric Price Performance

Shares of POR stock opened at $46.10 on Friday. The stock’s fifty day simple moving average is $47.85 and its 200 day simple moving average is $45.61. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 13.76, a P/E/G ratio of 1.21 and a beta of 0.59. Portland General Electric has a one year low of $39.13 and a one year high of $49.85.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The company had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The business’s revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.46 earnings per share. On average, analysts expect that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s dividend payout ratio is currently 59.70%.

Portland General Electric Company Profile

Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. It operates six thermal plants, three wind farms, and seven hydroelectric facilities. As of December 31, 2023, the company owned an electric transmission system consisting of 1,254 circuit miles, including 287 circuit miles of 500 kilovolt line, 413 circuit miles of 230 kilovolt line, and 554 miles of 115 kilovolt line; and served 934 thousand retail customers in 51 cities.