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

Nuance Investments LLC lowered its position in shares of Portland General Electric (NYSE:POR - Free Report) by 4.2% during the fourth quarter, according to its most recent Form 13F 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 quarter. Portland General Electric accounts for about 1.2% of Nuance Investments LLC's holdings, making the stock its 23rd largest position. Nuance Investments LLC owned approximately 0.63% of Portland General Electric worth $29,007,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Pathstone Holdings LLC lifted its holdings in shares of Portland General Electric by 12.2% in the third quarter. Pathstone Holdings LLC now owns 29,632 shares of the utilities provider's stock valued at $1,421,000 after purchasing an additional 3,232 shares in the last quarter. Intech Investment Management LLC acquired a new position in Portland General Electric during the third quarter valued at $1,539,000. Charles Schwab Investment Management Inc. lifted its stake in Portland General Electric by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,278,066 shares of the utilities provider's stock worth $61,219,000 after acquiring an additional 13,720 shares in the last quarter. Citigroup Inc. boosted its position in Portland General Electric by 43.5% during the 3rd quarter. Citigroup Inc. now owns 183,044 shares of the utilities provider's stock worth $8,768,000 after acquiring an additional 55,529 shares during the period. Finally, Cerity Partners LLC grew its stake in Portland General Electric by 37.6% during the 3rd quarter. Cerity Partners LLC now owns 49,448 shares of the utilities provider's stock valued at $2,369,000 after acquiring an additional 13,519 shares in the last quarter.

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Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the transaction, the chief financial officer now directly 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 SEC, which is available at the SEC website. Corporate insiders own 0.40% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Bank of America reduced their price target on shares of Portland General Electric from $46.00 to $43.00 and set an "underperform" rating for the company in a research report on Tuesday, December 24th. UBS Group reiterated a "neutral" rating and issued a $47.00 target price (down previously from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. Evercore ISI upped their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. KeyCorp cut their price objective on Portland General Electric from $52.00 to $51.00 and set an "overweight" rating for the company in a report on Wednesday, December 4th. Finally, Jefferies Financial Group lowered their target price on Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $47.00.

Portland General Electric Stock Up 1.5 %

Shares of NYSE:POR traded up $0.65 on Friday, reaching $44.39. The company had a trading volume of 784,809 shares, compared to its average volume of 1,008,527. 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 market capitalization of $4.86 billion, a P/E ratio of 14.75, a P/E/G ratio of 1.11 and a beta of 0.55. The stock has a 50-day moving average price of $43.01 and a 200 day moving average price of $45.04. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last announced its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm had revenue of $824.00 million during the quarter, compared to analysts' expectations of $716.17 million. During the same quarter in the prior year, the business earned $0.67 earnings per share. On average, equities analysts expect that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric's dividend payout ratio is 66.45%.

Portland General Electric 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.