Nuance Investments LLC Has $33.26 Million Stock Position in Portland General Electric (NYSE:POR)

Nuance Investments LLC reduced its stake in Portland General Electric (NYSE:POR) by 26.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 694,282 shares of the utilities provider’s stock after selling 248,012 shares during the period. Portland General Electric accounts for approximately 1.1% of Nuance Investments LLC’s holdings, making the stock its 29th largest holding. Nuance Investments LLC’s holdings in Portland General Electric were worth $33,256,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. V Square Quantitative Management LLC bought a new position in Portland General Electric during the third quarter worth about $25,000. LRI Investments LLC acquired a new stake in shares of Portland General Electric in the 1st quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV boosted its stake in Portland General Electric by 767.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 514 shares during the last quarter. Allworth Financial LP grew 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 purchasing an additional 265 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Portland General Electric in the second quarter valued at approximately $33,000.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on POR shares. Bank of America initiated coverage on shares of Portland General Electric in a report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price target for the company. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Evercore ISI initiated coverage on Portland General Electric in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price objective for the company. JPMorgan Chase & Co. increased their target price on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Barclays cut their price target on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $48.86.

Insiders Place Their Bets

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the transaction, the senior vice president now directly owns 14,263 shares in the company, valued at approximately $688,902.90. This represents a 14.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.54% of the company’s stock.

Portland General Electric Stock Up 0.3 %

POR stock opened at $46.94 on Wednesday. The company has a market cap of $4.95 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.85. The business has a 50-day simple moving average of $47.52 and a 200 day simple moving average of $45.98.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. The company had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 EPS. Sell-side analysts anticipate that Portland General Electric will post 3.11 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.26%. Portland General Electric’s dividend payout ratio is currently 59.70%.

About Portland General Electric

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.