Portland General Electric (NYSE:POR) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC trimmed its holdings in Portland General Electric (NYSE:POR) by 5.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 496,780 shares of the utilities provider’s stock after selling 28,312 shares during the period. Nuveen Asset Management LLC’s holdings in Portland General Electric were worth $21,670,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Newbridge Financial Services Group Inc. acquired a new position in Portland General Electric in the 4th quarter valued at about $29,000. Cullen Frost Bankers Inc. increased its holdings in shares of Portland General Electric by 1,538.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 769 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Portland General Electric during the fourth quarter worth approximately $52,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Portland General Electric by 352.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider’s stock worth $61,000 after purchasing an additional 1,096 shares during the period. Finally, Quarry LP grew its position in Portland General Electric by 110.4% in the 4th quarter. Quarry LP now owns 1,471 shares of the utilities provider’s stock valued at $64,000 after buying an additional 772 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have commented on POR shares. Jefferies Financial Group cut 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 dropped their price target on shares of Portland General Electric from $51.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. LADENBURG THALM/SH SH cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target for the company. in a report on Tuesday, February 18th. Barclays reduced their price objective on shares of Portland General Electric from $48.00 to $45.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 30th. Finally, UBS Group upgraded Portland General Electric from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $47.00 to $50.00 in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $45.60.

Insiders Place Their Bets

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of the firm’s stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $43.02, for a total transaction of $79,371.90. Following the completion of the transaction, the executive vice president now directly owns 32,646 shares in the company, valued at approximately $1,404,430.92. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.40% of the stock is owned by company insiders.

Portland General Electric Stock Up 0.5%

POR stock opened at $41.97 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The company’s 50-day moving average price is $42.70 and its 200 day moving average price is $43.58. Portland General Electric has a 52 week low of $40.05 and a 52 week high of $49.85. The company has a market cap of $4.60 billion, a P/E ratio of 13.94, a P/E/G ratio of 1.11 and a beta of 0.57.

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

Portland General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Tuesday, June 24th. This is a boost from Portland General Electric’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 5.00%. Portland General Electric’s payout ratio is currently 73.94%.

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.