Nuance Investments LLC Has $8.58 Million Stake in Portland General Electric Company (NYSE:POR)

Key Points

• Nuance Investments LLC reduced its stake in Portland General Electric by 71.1% to approximately $8.58 million, owning 192,295 shares after selling 472,690 shares in the first quarter.
• Insider selling has occurred, with Director Michael A. Lewis and CFO Joseph R. Trpik, Jr. reducing their holdings by 12.54% and 8.77% respectively after selling shares at average prices of $40.10 and $41.35.
• Portland General Electric announced a quarterly dividend of $0.525 per share, representing a 5.0% annualized dividend yield, with the payment date set for October 15th.

Nuance Investments LLC decreased its stake in Portland General Electric Company (NYSE:POR - Free Report) by 71.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 192,295 shares of the utilities provider's stock after selling 472,690 shares during the quarter. Nuance Investments LLC owned 0.18% of Portland General Electric worth $8,576,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in POR. True Wealth Design LLC acquired a new position in Portland General Electric in the fourth quarter valued at about $27,000. Wayfinding Financial LLC acquired a new position in Portland General Electric in the first quarter valued at about $27,000. Private Trust Co. NA lifted its stake in Portland General Electric by 62.6% in the first quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock valued at $28,000 after buying an additional 244 shares during the period. Global X Japan Co. Ltd. lifted its stake in Portland General Electric by 113.1% in the first quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider's stock valued at $29,000 after buying an additional 345 shares during the period. Finally, Costello Asset Management INC acquired a new stake in shares of Portland General Electric during the first quarter worth about $46,000.

Insider Buying and Selling

In other news, Director Michael A. Lewis sold 1,937 shares of the company's stock in a transaction that occurred 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 sale, the director owned 13,509 shares in the company, valued at $541,710.90. This represents a 12.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $41.35, for a total value of $107,634.05. Following the sale, the chief financial officer owned 27,089 shares in the company, valued at approximately $1,120,130.15. This represents a 8.77% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company's stock.

Analyst Ratings Changes

POR has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their price target on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. BMO Capital Markets initiated coverage on Portland General Electric in a research report on Tuesday, May 13th. They set a "market perform" rating and a $46.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on Portland General Electric from $46.00 to $45.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. KeyCorp lowered Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price target on the stock. in a research report on Wednesday, May 14th. Finally, Wall Street Zen raised Portland General Electric from a "sell" rating to a "hold" rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Portland General Electric presently has an average rating of "Hold" and a consensus price target of $45.40.

Portland General Electric Trading Up 0.2%

NYSE POR opened at $42.18 on Tuesday. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 3.85 and a beta of 0.55. The stock's 50 day moving average price is $40.98 and its two-hundred day moving average price is $42.18. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.84 and a current ratio of 0.97. Portland General Electric Company has a 52 week low of $39.54 and a 52 week high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last released its earnings results on Friday, July 25th. The utilities provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%. The firm had revenue of $807.00 million for the quarter, compared to analysts' expectations of $797.97 million. During the same quarter in the previous year, the business posted $0.69 EPS. The business's quarterly revenue was up 6.5% compared to the same quarter last year. As a group, analysts anticipate that Portland General Electric Company will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, September 25th will be paid a dividend of $0.525 per share. The ex-dividend date is Thursday, September 25th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.0%. Portland General Electric's dividend payout ratio is currently 77.49%.

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.

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