Nuance Investments LLC Sells 29,297 Shares of Portland General Electric (NYSE:POR)

Nuance Investments LLC cut its stake in Portland General Electric (NYSE:POR) by 4.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 664,985 shares of the utilities provider’s stock after selling 29,297 shares during the period. Portland General Electric makes up about 1.2% of Nuance Investments LLC’s portfolio, making the stock its 23rd biggest holding. Nuance Investments LLC’s holdings in Portland General Electric were worth $29,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new stake in Portland General Electric during the 3rd quarter worth $596,000. Nordea Investment Management AB grew its stake in Portland General Electric by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider’s stock valued at $43,058,000 after acquiring an additional 19,057 shares during the period. Franklin Resources Inc. lifted its position in Portland General Electric by 114.1% in the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock valued at $7,289,000 after acquiring an additional 81,701 shares in the last quarter. Synergy Asset Management LLC boosted its holdings in Portland General Electric by 260.6% during the 4th quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider’s stock worth $5,096,000 after acquiring an additional 82,743 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of Portland General Electric by 14.2% in the third quarter. HighTower Advisors LLC now owns 85,751 shares of the utilities provider’s stock valued at $4,114,000 after acquiring an additional 10,643 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on POR. Bank of America decreased their price objective on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a report on Tuesday, December 24th. KeyCorp dropped their price objective on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Jefferies Financial Group decreased their price target on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective for the company. in a report on Tuesday, February 18th. Finally, UBS Group restated a “neutral” rating and set a $47.00 price target (down from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Portland General Electric currently has a consensus rating of “Hold” and an average price target of $47.00.

Portland General Electric Price Performance

Shares of POR stock opened at $42.62 on Wednesday. The company’s 50-day simple moving average is $42.89 and its two-hundred day simple moving average is $45.11. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. Portland General Electric has a one year low of $40.05 and a one year high of $49.85. The company has a market capitalization of $4.67 billion, a P/E ratio of 14.16, a P/E/G ratio of 1.11 and a beta of 0.55.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $824.00 million for the quarter, compared to the consensus estimate of $716.17 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. During the same quarter in the prior year, the company earned $0.67 EPS. As a group, equities analysts anticipate that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The firm 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 dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.69%. Portland General Electric’s dividend payout ratio is presently 66.45%.

Insider Buying and Selling

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the sale, the chief financial officer now directly owns 31,960 shares in the company, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.40% of the stock is owned by company insiders.

Portland General Electric 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.