Nordea Investment Management AB Raises Holdings in Portland General Electric (NYSE:POR)

Nordea Investment Management AB increased its position in shares of Portland General Electric (NYSE:POR) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 989,379 shares of the utilities provider’s stock after purchasing an additional 19,057 shares during the period. Nordea Investment Management AB’s holdings in Portland General Electric were worth $43,058,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in POR. Commonwealth Equity Services LLC raised its holdings in shares of Portland General Electric by 22.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 33,296 shares of the utilities provider’s stock valued at $1,440,000 after purchasing an additional 6,159 shares in the last quarter. Rhumbline Advisers lifted its holdings in Portland General Electric by 2.9% during the second quarter. Rhumbline Advisers now owns 357,664 shares of the utilities provider’s stock worth $15,465,000 after buying an additional 10,030 shares during the period. National Bank of Canada FI bought a new stake in Portland General Electric during the 2nd quarter valued at $6,152,000. Victory Capital Management Inc. increased its holdings in shares of Portland General Electric by 6.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,076,806 shares of the utilities provider’s stock valued at $46,561,000 after acquiring an additional 69,392 shares during the period. Finally, Arizona State Retirement System raised its position in shares of Portland General Electric by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 28,337 shares of the utilities provider’s stock worth $1,225,000 after acquiring an additional 546 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on POR shares. Barclays dropped their price objective on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Jefferies Financial Group assumed coverage on shares of Portland General Electric in a research report on Friday, September 20th. They issued a “hold” rating and a $48.00 price objective on the stock. KeyCorp reduced their price objective on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Evercore ISI started coverage on shares of Portland General Electric in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price for the company. Finally, UBS Group reaffirmed a “neutral” rating and set a $47.00 price target (down from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $48.88.

Portland General Electric Trading Up 0.5 %

NYSE:POR opened at $42.53 on Wednesday. The company has a market capitalization of $4.49 billion, a P/E ratio of 12.70, a PEG ratio of 1.13 and a beta of 0.60. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. Portland General Electric has a 12 month low of $39.13 and a 12 month high of $49.85. The firm has a fifty day simple moving average of $45.78 and a 200-day simple moving average of $46.37.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The company had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $882.66 million. During the same quarter in the previous year, the firm posted $0.46 EPS. The firm’s revenue was up 15.8% compared to the same quarter last year. On average, equities research analysts anticipate that Portland General Electric will post 3.11 earnings per share for the current year.

Portland General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s dividend payout ratio is presently 59.70%.

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.