State Board of Administration of Florida Retirement System Sells 1,410 Shares of Portland General Electric (NYSE:POR)

State Board of Administration of Florida Retirement System decreased its position in Portland General Electric (NYSE:POR – Get Rating) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,109 shares of the utilities provider’s stock after selling 1,410 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Portland General Electric were worth $1,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. lifted its position in Portland General Electric by 17.4% in the first quarter. American Century Companies Inc. now owns 14,034 shares of the utilities provider’s stock valued at $774,000 after purchasing an additional 2,083 shares during the last quarter. Citigroup Inc. lifted its position in Portland General Electric by 58.9% in the first quarter. Citigroup Inc. now owns 46,899 shares of the utilities provider’s stock valued at $2,586,000 after purchasing an additional 17,386 shares during the last quarter. Bank of Montreal Can bought a new stake in Portland General Electric in the first quarter valued at approximately $239,000. Acadian Asset Management LLC bought a new stake in Portland General Electric in the first quarter valued at approximately $460,000. Finally, MetLife Investment Management LLC lifted its position in Portland General Electric by 55.0% in the first quarter. MetLife Investment Management LLC now owns 47,232 shares of the utilities provider’s stock valued at $2,605,000 after purchasing an additional 16,750 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Portland General Electric Price Performance

Shares of POR stock opened at $51.05 on Monday. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 3.12 and a beta of 0.58. The business’s fifty day moving average is $49.22 and its 200 day moving average is $48.26. Portland General Electric has a twelve month low of $41.58 and a twelve month high of $56.37. The company has a quick ratio of 0.89, a current ratio of 1.02 and a debt-to-equity ratio of 1.21.

Portland General Electric (NYSE:POR – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The utilities provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.11. Portland General Electric had a return on equity of 9.06% and a net margin of 8.88%. The company had revenue of $687.00 million for the quarter, compared to analysts’ expectations of $624.60 million. Research analysts expect that Portland General Electric will post 2.7 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Monday, June 26th will be paid a $0.475 dividend. This is a boost from Portland General Electric’s previous quarterly dividend of $0.45. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Friday, June 23rd. Portland General Electric’s dividend payout ratio is currently 69.60%.

Insider Transactions at Portland General Electric

In other news, VP John Teeruk Kochavatr sold 3,000 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $51.12, for a total value of $153,360.00. Following the sale, the vice president now directly owns 15,489 shares of the company’s stock, valued at $791,797.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Brett Michael Sims sold 2,050 shares of the stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $47.00, for a total value of $96,350.00. Following the sale, the vice president now directly owns 10,978 shares of the company’s stock, valued at $515,966. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP John Teeruk Kochavatr sold 3,000 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $51.12, for a total value of $153,360.00. Following the completion of the sale, the vice president now directly owns 15,489 shares in the company, valued at $791,797.68. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on POR. Bank of America upgraded Portland General Electric from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $47.00 to $52.00 in a research report on Tuesday, March 14th. StockNews.com started coverage on Portland General Electric in a report on Thursday, March 16th. They set a “hold” rating for the company. Credit Suisse Group upped their target price on Portland General Electric from $48.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, February 21st. Wells Fargo & Company upped their target price on Portland General Electric from $52.00 to $53.00 and gave the company an “equal weight” rating in a report on Friday, February 17th. Finally, JPMorgan Chase & Co. started coverage on Portland General Electric in a report on Monday, May 8th. They set an “overweight” rating and a $56.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $50.75.

Portland General Electric Company Profile

(Get Rating)

Portland General Electric Co engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. The firm also sells electricity and natural gas in the wholesale market to utilities, brokers, and power marketers. It also serves residential, commercial and non-residential customers.