Nordea Investment Management AB Grows Stock Holdings in Portland General Electric Company $POR

Nordea Investment Management AB lifted its position in Portland General Electric Company (NYSE:POR) by 25.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,605,974 shares of the utilities provider’s stock after buying an additional 325,787 shares during the quarter. Nordea Investment Management AB owned approximately 1.47% of Portland General Electric worth $70,518,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc grew its position in Portland General Electric by 1,291.7% in the 2nd quarter. IFP Advisors Inc now owns 668 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 620 shares in the last quarter. S.A. Mason LLC purchased a new position in shares of Portland General Electric in the second quarter valued at approximately $29,000. Bell Investment Advisors Inc boosted its stake in shares of Portland General Electric by 80.6% in the second quarter. Bell Investment Advisors Inc now owns 829 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 370 shares during the period. Tompkins Financial Corp grew its holdings in shares of Portland General Electric by 83.3% in the second quarter. Tompkins Financial Corp now owns 1,100 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 500 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Portland General Electric during the 2nd quarter worth approximately $51,000.

Portland General Electric Stock Up 0.8%

Portland General Electric stock opened at $49.26 on Thursday. The stock has a market cap of $5.54 billion, a PE ratio of 17.91, a P/E/G ratio of 4.28 and a beta of 0.67. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.08 and a quick ratio of 0.95. The stock’s fifty day moving average is $48.84 and its two-hundred day moving average is $44.89. Portland General Electric Company has a 1-year low of $39.54 and a 1-year high of $51.14.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Thursday, October 30th. The utilities provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The business had revenue of $952.00 million for the quarter, compared to the consensus estimate of $975.64 million. Portland General Electric had a return on equity of 8.32% and a net margin of 8.63%.The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.90 EPS. On average, sell-side analysts expect that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 22nd will be given a $0.525 dividend. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.3%. Portland General Electric’s dividend payout ratio is 76.36%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on POR. Wells Fargo & Company began coverage on shares of Portland General Electric in a research report on Monday, October 27th. They issued an “equal weight” rating and a $45.00 price target for the company. UBS Group decreased their target price on Portland General Electric from $51.00 to $49.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Loop Capital set a $48.00 price target on Portland General Electric in a report on Tuesday, December 30th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Portland General Electric in a research report on Tuesday, December 30th. Finally, JPMorgan Chase & Co. boosted their price objective on Portland General Electric from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Portland General Electric currently has a consensus rating of “Hold” and a consensus price target of $47.58.

Portland General Electric Company Profile

Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon’s largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.