Allianz Asset Management GmbH Reduces Stock Position in Portland General Electric Company $POR

Key Points

• Allianz Asset Management GmbH reduced its stake in Portland General Electric Company by 29.1%, owning 194,468 shares after selling 79,689 shares in the second quarter.
• Vanguard Group Inc. and other institutional investors have increased their positions in Portland General Electric, with Vanguard's stake rising by 4.7% to approximately $556 million.
• The stock has received mixed analyst ratings, with three analysts giving it a Buy rating, nine a Hold rating, and one a Sell rating, placing the average target price at $46.36.

Allianz Asset Management GmbH lowered its stake in shares of Portland General Electric Company (NYSE:POR - Free Report) by 29.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 194,468 shares of the utilities provider's stock after selling 79,689 shares during the period. Allianz Asset Management GmbH owned 0.18% of Portland General Electric worth $7,901,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Portland General Electric by 4.7% during the first quarter. Vanguard Group Inc. now owns 12,472,333 shares of the utilities provider's stock worth $556,266,000 after acquiring an additional 559,201 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of Portland General Electric by 22.8% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 4,864,352 shares of the utilities provider's stock worth $216,950,000 after buying an additional 904,692 shares in the last quarter. ATLAS Infrastructure Partners UK Ltd. raised its position in shares of Portland General Electric by 164.5% in the first quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,400,635 shares of the utilities provider's stock worth $196,268,000 after buying an additional 2,736,811 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Portland General Electric by 14.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,878,528 shares of the utilities provider's stock worth $128,382,000 after buying an additional 366,640 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Portland General Electric by 3.7% in the first quarter. Invesco Ltd. now owns 2,282,513 shares of the utilities provider's stock worth $101,800,000 after buying an additional 82,427 shares in the last quarter.

Insider Transactions at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $41.35, for a total transaction of $107,634.05. Following the transaction, the chief financial officer directly owned 27,089 shares of the company's stock, valued at approximately $1,120,130.15. This trade represents a 8.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Maria M. Pope sold 18,896 shares of the firm's stock in a transaction dated Wednesday, September 10th. The shares were 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 $8,250,737.50. This trade represents a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on POR. Weiss Ratings reiterated a "hold (c)" rating on shares of Portland General Electric in a research report on Wednesday, October 8th. BTIG Research began coverage on Portland General Electric in a research report on Tuesday. They issued a "buy" rating and a $52.00 price objective on the stock. Zacks Research upgraded Portland General Electric from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Finally, Barclays increased their price objective on Portland General Electric from $43.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Portland General Electric currently has an average rating of "Hold" and a consensus target price of $46.36.

Portland General Electric Trading Down 0.2%

NYSE POR opened at $44.96 on Wednesday. The stock's 50-day simple moving average is $43.01 and its two-hundred day simple moving average is $42.09. Portland General Electric Company has a twelve month low of $39.54 and a twelve month high of $49.85. The company has a quick ratio of 0.84, a current ratio of 0.97 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 4.12 and a beta of 0.62.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $807.00 million for the quarter, compared to the consensus estimate of $797.97 million. During the same quarter last year, the business posted $0.69 earnings per share. The company's revenue for the quarter was up 6.5% on a year-over-year basis. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. Research analysts forecast that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.