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

Nuance Investments LLC trimmed its stake in Portland General Electric (NYSE:POR) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 664,985 shares of the utilities provider’s stock after selling 29,297 shares during the period. Portland General Electric comprises 1.2% of Nuance Investments LLC’s holdings, making the stock its 23rd biggest holding. Nuance Investments LLC owned about 0.63% of Portland General Electric worth $29,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in POR. Newbridge Financial Services Group Inc. acquired a new stake in Portland General Electric during the 4th quarter valued at approximately $29,000. Versant Capital Management Inc raised its position in shares of Portland General Electric by 151.0% in 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 last quarter. Cullen Frost Bankers Inc. lifted its stake in shares of Portland General Electric by 1,538.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock worth $36,000 after buying an additional 769 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Portland General Electric by 352.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 1,096 shares during the period. Finally, USA Financial Formulas purchased a new stake in Portland General Electric in the fourth quarter valued at $71,000.

Wall Street Analyst Weigh In

POR has been the subject of several research reports. LADENBURG THALM/SH SH downgraded shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target for the company. in a research note on Tuesday, February 18th. Jefferies Financial Group decreased their target price on 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. UBS Group restated a “neutral” rating and issued a $47.00 price objective (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Barclays lifted their price objective on Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Finally, Bank of America lowered their price target on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a report on Tuesday, December 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $47.00.

Insider Activity

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 31,960 shares of the company’s stock, valued at $1,320,587.20. The trade was a 4.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.40% of the company’s stock.

Portland General Electric Price Performance

POR opened at $42.62 on Wednesday. Portland General Electric has a 12-month low of $40.05 and a 12-month high of $49.85. The firm has a market capitalization of $4.67 billion, a P/E ratio of 14.16, a PEG ratio of 1.11 and a beta of 0.55. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The stock has a fifty day moving average of $42.89 and a 200-day moving average of $45.11.

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

Portland General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.69%. Portland General Electric’s payout ratio is 66.45%.

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.