Kestra Advisory Services LLC Acquires 9,621 Shares of Portland General Electric Company $POR

Kestra Advisory Services LLC increased its holdings in shares of Portland General Electric Company (NYSE:POR) by 26.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,253 shares of the utilities provider’s stock after purchasing an additional 9,621 shares during the quarter. Kestra Advisory Services LLC’s holdings in Portland General Electric were worth $2,441,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new stake in Portland General Electric during the fourth quarter worth about $3,662,000. GSA Capital Partners LLP boosted its position in Portland General Electric by 683.5% during the fourth quarter. GSA Capital Partners LLP now owns 43,282 shares of the utilities provider’s stock valued at $2,077,000 after purchasing an additional 37,758 shares during the last quarter. Sterling Capital Management LLC grew its stake in Portland General Electric by 18.8% in the first quarter. Sterling Capital Management LLC now owns 127,496 shares of the utilities provider’s stock valued at $6,728,000 after purchasing an additional 20,147 shares in the last quarter. CWA Asset Management Group LLC grew its stake in Portland General Electric by 228.9% in the fourth quarter. CWA Asset Management Group LLC now owns 68,462 shares of the utilities provider’s stock valued at $3,285,000 after purchasing an additional 47,644 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in shares of Portland General Electric during the 4th quarter worth approximately $897,000.

Insider Transactions at Portland General Electric

In related news, VP Juan Diego Gallegos sold 2,750 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $48.67, for a total value of $133,842.50. Following the transaction, the vice president owned 12,127 shares in the company, valued at approximately $590,221.09. This represents a 18.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joseph R. Trpik, Jr. sold 7,500 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $49.03, for a total transaction of $367,725.00. Following the completion of the transaction, the chief financial officer directly owned 31,897 shares in the company, valued at approximately $1,563,909.91. This represents a 19.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.52% of the stock is currently owned by corporate insiders.

Portland General Electric Stock Performance

POR opened at $52.44 on Monday. Portland General Electric Company has a 12-month low of $39.73 and a 12-month high of $54.62. The stock has a market cap of $6.07 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 2.20 and a beta of 0.52. The business has a 50 day moving average of $50.64 and a 200-day moving average of $51.13. The company has a quick ratio of 0.95, a current ratio of 1.09 and a debt-to-equity ratio of 1.19.

Portland General Electric (NYSE:POR) last posted 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 business had revenue of $879.00 million for the quarter, compared to analyst estimates of $953.24 million. During the same period in the previous year, the firm posted $0.91 earnings per share. The firm’s revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts expect that Portland General Electric Company will post 3.4 earnings per share for the current year.

Portland General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Thursday, June 25th were given a $0.5513 dividend. The ex-dividend date of this dividend was Thursday, June 25th. This is a boost from Portland General Electric’s previous quarterly dividend of $0.53. This represents a $2.21 annualized dividend and a dividend yield of 4.2%. Portland General Electric’s payout ratio is currently 98.21%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on POR. Wells Fargo & Company set a $51.00 price objective on Portland General Electric in a research note on Tuesday, April 21st. JPMorgan Chase & Co. upped their price target on shares of Portland General Electric from $51.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Portland General Electric in a research note on Friday, May 15th. Finally, Zacks Research downgraded shares of Portland General Electric from a “hold” rating to a “strong sell” rating in a research report on Monday, July 6th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target 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.