Nordea Investment Management AB Buys 19,057 Shares of Portland General Electric (NYSE:POR)

Nordea Investment Management AB boosted its holdings in Portland General Electric (NYSE:POR - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 989,379 shares of the utilities provider's stock after acquiring an additional 19,057 shares during the period. Nordea Investment Management AB owned 0.94% of Portland General Electric worth $43,058,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in POR. V Square Quantitative Management LLC bought a new position in shares of Portland General Electric in the third quarter valued at about $25,000. Allworth Financial LP lifted its position in Portland General Electric by 74.4% during the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider's stock worth $30,000 after acquiring an additional 265 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Portland General Electric during the second quarter worth approximately $33,000. Versant Capital Management Inc grew 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 purchasing an additional 450 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of Portland General Electric during the second quarter worth approximately $40,000.

Analyst Upgrades and Downgrades

A number of research analysts have commented on POR shares. StockNews.com raised Portland General Electric from a "sell" rating to a "hold" rating in a report on Tuesday, September 24th. Evercore ISI initiated coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They set an "outperform" rating and a $54.00 price target on the stock. UBS Group reissued a "neutral" rating and issued a $47.00 price objective (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Barclays decreased their target price on shares of Portland General Electric from $49.00 to $48.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 29th. Finally, KeyCorp dropped their price target on shares of Portland General Electric from $52.00 to $51.00 and set an "overweight" rating for the company in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $48.88.

Portland General Electric Price Performance

Shares of POR stock traded up $0.10 during trading hours on Wednesday, reaching $42.64. The company's stock had a trading volume of 1,334,103 shares, compared to its average volume of 1,578,397. Portland General Electric has a fifty-two week low of $39.13 and a fifty-two week high of $49.85. The firm's 50 day simple moving average is $45.68 and its 200-day simple moving average is $46.36. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.13 and a beta of 0.60.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings data 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. The business 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%. Portland General Electric's revenue was up 15.8% compared to the same quarter last year. During the same period last year, the firm posted $0.46 earnings per share. Sell-side analysts forecast that Portland General Electric will post 3.11 earnings per share for the current year.

Portland General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.69%. 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.