Louisiana State Employees Retirement System Raises Stock Position in Portland General Electric (NYSE:POR)

Louisiana State Employees Retirement System grew its position in shares of Portland General Electric (NYSE:POR) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,300 shares of the utilities provider’s stock after purchasing an additional 700 shares during the period. Louisiana State Employees Retirement System’s holdings in Portland General Electric were worth $1,278,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new stake in Portland General Electric in the third quarter worth about $25,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Portland General Electric during the fourth quarter valued at approximately $29,000. Allworth Financial LP increased its holdings in Portland General Electric by 74.4% during the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after buying an additional 265 shares during the period. Versant Capital Management Inc increased its holdings in Portland General Electric by 151.0% during the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after buying an additional 450 shares during the period. Finally, USA Financial Formulas purchased a new position in Portland General Electric during the fourth quarter valued at approximately $71,000.

Portland General Electric Stock Performance

Portland General Electric stock opened at $41.62 on Monday. The firm has a 50 day simple moving average of $42.58 and a 200-day simple moving average of $45.72. Portland General Electric has a 1-year low of $39.49 and a 1-year high of $49.85. 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 stock has a market cap of $4.39 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 1.05 and a beta of 0.61.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The business had revenue of $824.00 million during the quarter, compared to analysts’ expectations of $716.17 million. During the same quarter in the prior year, the company posted $0.67 EPS. On average, analysts expect that Portland General Electric will post 3.11 EPS for the current year.

Portland General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a $0.50 dividend. The ex-dividend date is Monday, March 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.81%. Portland General Electric’s dividend payout ratio is currently 59.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on POR shares. UBS Group reaffirmed a “neutral” rating and issued a $47.00 price target (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Bank of America decreased their target price on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research report on Tuesday, December 24th. Barclays decreased their target price on shares of Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. Jefferies Financial Group decreased their target price on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Finally, KeyCorp decreased their target price on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $47.38.

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.