Nordea Investment Management AB Purchases 290,273 Shares of Portland General Electric Company $POR

Key Points

• Nordea Investment Management AB increased its stake in Portland General Electric Company (POR) by 29.3% during the second quarter, acquiring an additional 290,273 shares to bring its total ownership to approximately 1.17% of the company.
• Several institutional investors have also made changes to their stakes, with Private Trust Co. NA increasing its position by 62.6% and others like Menard Financial Group LLC and Hexagon Capital Partners LLC also raising their stakes this year.
• Portland General Electric reported a quarterly earnings per share (EPS) of $0.66, exceeding analyst expectations, with total revenue reaching $807 million, up 6.5% year-over-year.

Nordea Investment Management AB boosted its position in shares of Portland General Electric Company (NYSE:POR - Free Report) by 29.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,280,187 shares of the utilities provider's stock after acquiring an additional 290,273 shares during the period. Nordea Investment Management AB owned approximately 1.17% of Portland General Electric worth $51,668,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Trust Co. NA increased its stake in Portland General Electric by 62.6% during the first quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock valued at $28,000 after acquiring an additional 244 shares during the period. Menard Financial Group LLC grew its stake in shares of Portland General Electric by 4.6% in the 1st quarter. Menard Financial Group LLC now owns 5,905 shares of the utilities provider's stock valued at $251,000 after purchasing an additional 257 shares during the period. Private Advisor Group LLC grew its stake in shares of Portland General Electric by 1.6% in the 1st quarter. Private Advisor Group LLC now owns 17,986 shares of the utilities provider's stock valued at $802,000 after purchasing an additional 279 shares during the period. Hexagon Capital Partners LLC grew its stake in shares of Portland General Electric by 25.3% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,443 shares of the utilities provider's stock valued at $64,000 after purchasing an additional 291 shares during the period. Finally, Johnson Investment Counsel Inc. grew its stake in shares of Portland General Electric by 0.8% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 38,261 shares of the utilities provider's stock valued at $1,555,000 after purchasing an additional 301 shares during the period.

Insider Buying and Selling

In other Portland General Electric news, Director Michael A. Lewis sold 1,937 shares of the company's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $40.10, for a total transaction of $77,673.70. Following the transaction, the director owned 13,509 shares of the company's stock, valued at approximately $541,710.90. This represents a 12.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Maria M. Pope sold 18,896 shares of the company's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $42.50, for a total value of $803,080.00. Following the transaction, the chief executive officer directly owned 194,135 shares in the company, valued at approximately $8,250,737.50. This represents a 8.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,436 shares of company stock worth $988,388 in the last three months. Insiders own 0.40% of the company's stock.

Portland General Electric Stock Up 1.7%

NYSE POR opened at $44.62 on Friday. The firm has a market cap of $4.89 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 4.08 and a beta of 0.62. Portland General Electric Company has a one year low of $39.54 and a one year high of $49.85. The stock's 50 day simple moving average is $42.91 and its 200 day simple moving average is $42.07. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.97 and a quick ratio of 0.84.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The utilities provider reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.01. The business had revenue of $807.00 million for the quarter, compared to analyst estimates of $797.97 million. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%.Portland General Electric's revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.69 EPS. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. As a group, sell-side analysts forecast that Portland General Electric Company will post 3.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays lowered their price objective on Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 22nd. Weiss Ratings reiterated a "hold (c)" rating on shares of Portland General Electric in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded Portland General Electric from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $45.40.

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.

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