Portland General Electric (NYSE:POR) Shares Sold by Nuance Investments LLC

Nuance Investments LLC trimmed its holdings in shares of Portland General Electric (NYSE:POR - Free Report) by 26.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 694,282 shares of the utilities provider's stock after selling 248,012 shares during the quarter. Portland General Electric accounts for approximately 1.1% of Nuance Investments LLC's holdings, making the stock its 29th biggest holding. Nuance Investments LLC owned approximately 0.66% of Portland General Electric worth $33,256,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in POR. Gabelli Funds LLC raised its position in Portland General Electric by 3.8% in the 1st quarter. Gabelli Funds LLC now owns 297,049 shares of the utilities provider's stock worth $12,476,000 after purchasing an additional 11,000 shares during the period. Jane Street Group LLC raised its position in Portland General Electric by 274.5% in the 1st quarter. Jane Street Group LLC now owns 197,687 shares of the utilities provider's stock worth $8,303,000 after purchasing an additional 144,900 shares during the period. Clearbridge Investments LLC raised its position in Portland General Electric by 13.1% in the 1st quarter. Clearbridge Investments LLC now owns 480,351 shares of the utilities provider's stock worth $20,175,000 after purchasing an additional 55,555 shares during the period. Cetera Advisors LLC raised its position in Portland General Electric by 231.6% in the 1st quarter. Cetera Advisors LLC now owns 19,499 shares of the utilities provider's stock worth $819,000 after purchasing an additional 13,618 shares during the period. Finally, Cetera Investment Advisers raised its position in Portland General Electric by 228.4% in the 1st quarter. Cetera Investment Advisers now owns 52,833 shares of the utilities provider's stock worth $2,219,000 after purchasing an additional 36,744 shares during the period.

Insider Buying and Selling

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction 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 owns 14,263 shares of the company's stock, valued at approximately $688,902.90. The trade was a 14.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on POR shares. Jefferies Financial Group started coverage on shares of Portland General Electric in a research note on Friday, September 20th. They issued a "hold" rating and a $48.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. StockNews.com upgraded shares of Portland General Electric from a "sell" rating to a "hold" rating in a research note on Tuesday, September 24th. Evercore ISI initiated coverage on shares of Portland General Electric in a research note on Wednesday, September 25th. They set an "outperform" rating and a $54.00 price objective on the stock. Finally, Barclays lowered their target price on shares of Portland General Electric from $49.00 to $48.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 29th. One investment 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's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $48.86.

Portland General Electric Stock Performance

Shares of Portland General Electric stock traded down $0.03 during trading on Wednesday, hitting $46.88. 810,152 shares of the company's stock were exchanged, compared to its average volume of 955,339. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. The business has a 50-day simple moving average of $47.49 and a 200-day simple moving average of $46.01. Portland General Electric has a 52-week low of $39.13 and a 52-week high of $49.85. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.19 and a beta of 0.59.

Portland General Electric (NYSE:POR - Get Free Report) last issued its earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping 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 firm 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 posted $0.46 earnings per share. The firm's revenue was up 15.8% compared to the same quarter last year. On average, research analysts forecast that Portland General Electric will post 3.11 EPS for the current year.

Portland General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.27%. Portland General Electric's dividend payout ratio (DPR) is presently 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.