Portland General Electric (NYSE:POR) Shares Purchased by Zimmer Partners LP

Zimmer Partners LP increased its position in shares of Portland General Electric (NYSE:POR - Free Report) by 25.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,306,227 shares of the utilities provider's stock after purchasing an additional 463,685 shares during the quarter. Portland General Electric accounts for 1.7% of Zimmer Partners LP's investment portfolio, making the stock its 15th biggest holding. Zimmer Partners LP owned approximately 2.19% of Portland General Electric worth $100,598,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Portland General Electric by 5.0% in the 4th quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider's stock worth $519,651,000 after buying an additional 572,531 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of Portland General Electric by 19.1% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider's stock worth $172,720,000 after buying an additional 635,987 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Portland General Electric by 2.9% in the 4th quarter. JPMorgan Chase & Co. now owns 3,333,393 shares of the utilities provider's stock worth $145,403,000 after buying an additional 93,903 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Portland General Electric by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 2,491,658 shares of the utilities provider's stock worth $108,710,000 after buying an additional 47,172 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Portland General Electric by 14.1% in the 4th quarter. Invesco Ltd. now owns 2,200,086 shares of the utilities provider's stock worth $95,968,000 after buying an additional 271,540 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Barclays reduced their target price on shares of Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. KeyCorp lowered shares of Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 target price on the stock. in a report on Wednesday, May 14th. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price on the stock. in a report on Tuesday, February 18th. Finally, Wall Street Zen upgraded shares of Portland General Electric from a "sell" rating to a "hold" rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $45.60.

Insider Buying and Selling

In related news, EVP Benjamin Felton sold 1,845 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now owns 32,646 shares of the company's stock, valued at approximately $1,404,430.92. This represents a 5.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.40% of the company's stock.

Portland General Electric Trading Up 0.5%

Shares of POR stock traded up $0.23 during trading hours on Friday, hitting $41.97. 1,190,746 shares of the company were exchanged, compared to its average volume of 1,026,158. The firm has a market cap of $4.60 billion, a PE ratio of 13.94, a PEG ratio of 1.11 and a beta of 0.57. Portland General Electric has a 1 year low of $40.05 and a 1 year high of $49.85. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The firm has a fifty day moving average of $42.70 and a 200 day moving average of $43.55.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.02). The company had revenue of $928.00 million for the quarter, compared to analysts' expectations of $977.02 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The company's revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.21 earnings per share. Analysts expect that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date is Tuesday, June 24th. This is an increase from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's dividend payout ratio is 73.94%.

Portland General Electric Company 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.