Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in Portland General Electric Company (NYSE:POR – Free Report) by 5.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 200,983 shares of the utilities provider’s stock after selling 11,671 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Portland General Electric were worth $10,606,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the business. V Square Quantitative Management LLC bought a new stake in Portland General Electric in the fourth quarter worth $25,000. Private Trust Co. NA increased its position in Portland General Electric by 76.4% during the fourth quarter. Private Trust Co. NA now owns 552 shares of the utilities provider’s stock worth $26,000 after buying an additional 239 shares during the last quarter. Johnson Financial Group Inc. bought a new position in Portland General Electric during the third quarter valued at about $27,000. Rothschild Investment LLC raised its holdings in Portland General Electric by 112.9% during the fourth quarter. Rothschild Investment LLC now owns 611 shares of the utilities provider’s stock valued at $29,000 after buying an additional 324 shares in the last quarter. Finally, SHP Wealth Management acquired a new stake in shares of Portland General Electric in the fourth quarter worth about $34,000.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on POR. Weiss Ratings reiterated a “hold (c+)” rating on shares of Portland General Electric in a research note on Friday, May 15th. Zacks Research downgraded Portland General Electric from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. boosted their target price on Portland General Electric from $51.00 to $54.00 and gave the stock a “neutral” rating in a report on Monday, April 20th. Finally, Wells Fargo & Company set a $51.00 target price on Portland General Electric in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $51.00.
Portland General Electric Stock Performance
Shares of POR opened at $53.05 on Tuesday. The company has a market capitalization of $6.14 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 2.21 and a beta of 0.52. Portland General Electric Company has a one year low of $39.73 and a one year high of $54.62. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.09 and a quick ratio of 0.95. The company’s fifty day moving average price is $50.34 and its 200 day moving average price is $51.00.
Portland General Electric (NYSE:POR – Get Free Report) last released its earnings results on Thursday, April 30th. The utilities provider reported $0.58 earnings per share 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 firm had revenue of $879.00 million for the quarter, compared to analyst estimates of $953.24 million. During the same period in the prior year, the firm earned $0.91 EPS. The firm’s revenue was down 5.3% on a year-over-year basis. As a group, analysts expect that Portland General Electric Company will post 3.39 earnings per share for the current year.
Portland General Electric Increases Dividend
The firm 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 dividend of $0.5513 per share. The ex-dividend date of this dividend is Thursday, June 25th. This represents a $2.21 annualized dividend and a dividend yield of 4.2%. This is a boost from Portland General Electric’s previous quarterly dividend of $0.53. Portland General Electric’s payout ratio is presently 98.21%.
Insider Buying and Selling
In related news, CFO Joseph R. Trpik, Jr. sold 7,500 shares of the stock in a transaction that occurred 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 $1,563,909.91. This represents a 19.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Juan Diego Gallegos sold 2,750 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $48.67, for a total value of $133,842.50. Following the completion of the sale, the vice president directly owned 12,127 shares in the company, valued at $590,221.09. This trade represents a 18.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.52% of the stock is owned by insiders.
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.
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