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

Nuance Investments LLC cut its position in shares of Portland General Electric (NYSE:POR) by 26.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 694,282 shares of the utilities provider’s stock after selling 248,012 shares during the period. Portland General Electric accounts for about 1.1% of Nuance Investments LLC’s investment portfolio, making the stock its 29th largest position. Nuance Investments LLC owned approximately 0.66% of Portland General Electric worth $33,256,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in Portland General Electric by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider’s stock valued at $65,234,000 after acquiring an additional 86,718 shares in the last quarter. HITE Hedge Asset Management LLC raised its holdings in shares of Portland General Electric by 7.1% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider’s stock valued at $64,216,000 after purchasing an additional 97,922 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Portland General Electric by 72.6% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,259,845 shares of the utilities provider’s stock valued at $60,346,000 after purchasing an additional 530,020 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Portland General Electric by 6.9% in the second quarter. Victory Capital Management Inc. now owns 1,076,806 shares of the utilities provider’s stock worth $46,561,000 after purchasing an additional 69,392 shares in the last quarter. Finally, Leeward Investments LLC MA increased its position in Portland General Electric by 5.6% during the second quarter. Leeward Investments LLC MA now owns 553,673 shares of the utilities provider’s stock worth $23,941,000 after buying an additional 29,441 shares during the last quarter.

Insider Activity

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the transaction, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at $688,902.90. This trade represents a 14.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on POR. JPMorgan Chase & Co. boosted their price target on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Evercore ISI assumed coverage on Portland General Electric in a report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price for the company. Jefferies Financial Group began coverage on Portland General Electric in a report on Friday, September 20th. They set a “hold” rating and a $48.00 price target on the stock. Bank of America initiated coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price target on the stock. Finally, StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $48.86.

Portland General Electric Stock Up 0.3 %

POR opened at $46.94 on Wednesday. The business has a 50 day moving average of $47.52 and a 200-day moving average of $45.98. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 1.19 and a beta of 0.59. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. Portland General Electric has a 1-year low of $39.13 and a 1-year high of $49.85.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The business had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $882.66 million. During the same quarter last year, the company earned $0.46 earnings per share. The firm’s revenue was up 15.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Portland General Electric will post 3.11 earnings per share for the current year.

Portland General Electric Dividend Announcement

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