Nomura Holdings Inc. Acquires Shares of 13,967 Portland General Electric (NYSE:POR)

Nomura Holdings Inc. acquired a new stake in Portland General Electric (NYSE:POR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,967 shares of the utilities provider's stock, valued at approximately $609,000.

Several other hedge funds have also recently added to or reduced their stakes in POR. Park Avenue Securities LLC increased its stake in shares of Portland General Electric by 24.0% in the 4th quarter. Park Avenue Securities LLC now owns 20,862 shares of the utilities provider's stock valued at $910,000 after acquiring an additional 4,044 shares during the last quarter. Ballentine Partners LLC acquired a new position in Portland General Electric during the fourth quarter valued at approximately $360,000. Nisa Investment Advisors LLC increased its stake in Portland General Electric by 5.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 178,694 shares of the utilities provider's stock valued at $7,884,000 after purchasing an additional 9,537 shares in the last quarter. SG Americas Securities LLC raised its holdings in Portland General Electric by 795.0% in the fourth quarter. SG Americas Securities LLC now owns 48,981 shares of the utilities provider's stock worth $2,137,000 after purchasing an additional 43,508 shares during the period. Finally, KBC Group NV grew its holdings in shares of Portland General Electric by 59.3% in the 4th quarter. KBC Group NV now owns 3,649 shares of the utilities provider's stock valued at $159,000 after buying an additional 1,359 shares during the period.

Insider Buying and Selling

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of the firm's stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total transaction of $79,371.90. Following the completion of the sale, the executive vice president now owns 32,646 shares of the company's stock, valued at $1,404,430.92. This trade represents a 5.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on POR. LADENBURG THALM/SH SH cut Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price for the company. in a research note on Tuesday, February 18th. BMO Capital Markets started coverage on shares of Portland General Electric in a report on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 price target for the company. Jefferies Financial Group lowered their price objective on shares of 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. Evercore ISI cut their price objective on shares of Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Finally, Barclays lowered their target price on Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Portland General Electric presently has an average rating of "Hold" and an average price target of $45.60.

Portland General Electric Stock Up 0.5%

POR stock traded up $0.23 during mid-day trading on Monday, reaching $41.97. The company had a trading volume of 1,190,746 shares, compared to its average volume of 1,026,158. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The stock has a 50 day simple moving average of $42.70 and a two-hundred day simple moving average of $43.53. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 1.11 and a beta of 0.57. Portland General Electric has a 52 week low of $40.05 and a 52 week high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last issued its earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). The firm had revenue of $928.00 million for the quarter, compared to analyst estimates of $977.02 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. Portland General Electric's quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 earnings per share. As a group, equities analysts predict that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 24th will be paid a dividend of $0.525 per share. This is an increase from Portland General Electric's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 5.00%. The ex-dividend date is Tuesday, June 24th. Portland General Electric's payout ratio is currently 73.94%.

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.