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

Zimmer Partners LP boosted its stake in shares of Portland General Electric (NYSE:POR - Free Report) by 25.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,306,227 shares of the utilities provider's stock after buying an additional 463,685 shares during the period. Portland General Electric accounts for 1.7% of Zimmer Partners LP's investment portfolio, making the stock its 15th largest position. Zimmer Partners LP owned 2.19% of Portland General Electric worth $100,598,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in POR. Park Avenue Securities LLC boosted its stake in Portland General Electric by 24.0% during the fourth quarter. Park Avenue Securities LLC now owns 20,862 shares of the utilities provider's stock worth $910,000 after buying an additional 4,044 shares during the last quarter. Trust Co. of Vermont lifted its stake in shares of Portland General Electric by 5.8% in the 4th quarter. Trust Co. of Vermont now owns 8,536 shares of the utilities provider's stock valued at $372,000 after purchasing an additional 465 shares during the last quarter. Ballentine Partners LLC acquired a new position in shares of Portland General Electric in the 4th quarter valued at $360,000. Nisa Investment Advisors LLC lifted its stake in shares of Portland General Electric by 5.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 178,694 shares of the utilities provider's stock valued at $7,884,000 after purchasing an additional 9,537 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Portland General Electric by 795.0% in the 4th quarter. SG Americas Securities LLC now owns 48,981 shares of the utilities provider's stock valued at $2,137,000 after purchasing an additional 43,508 shares during the last quarter.

Portland General Electric Price Performance

Shares of NYSE POR opened at $42.71 on Tuesday. The stock's 50-day moving average is $42.90 and its two-hundred day moving average is $43.66. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. Portland General Electric has a 1-year low of $40.05 and a 1-year high of $49.85. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 1.11 and a beta of 0.57.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings results 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). Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The company had revenue of $928.00 million for the quarter, compared to analysts' expectations of $977.02 million. During the same quarter last year, the company earned $1.21 EPS. Portland General Electric's revenue for the quarter was down .1% compared to the same quarter last year. Analysts forecast that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be issued a dividend of $0.525 per share. This is an increase from Portland General Electric's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, June 24th. This represents a $2.10 annualized dividend and a yield of 4.92%. Portland General Electric's dividend payout ratio is 73.94%.

Insiders Place Their Bets

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of the company's stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $43.02, for a total transaction of $79,371.90. Following the sale, the executive vice president now owns 32,646 shares in the company, valued at $1,404,430.92. This represents a 5.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. BMO Capital Markets assumed coverage on Portland General Electric in a research note on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 price target on the stock. LADENBURG THALM/SH SH lowered Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research note on Tuesday, February 18th. Wells Fargo & Company decreased their price target on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. JPMorgan Chase & Co. decreased their price target on Portland General Electric from $46.00 to $45.00 and set a "neutral" rating on the stock in a research note on Monday. Finally, Jefferies Financial Group cut their price objective on Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a report on Tuesday, January 28th. 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's stock. According to MarketBeat, Portland General Electric has a consensus rating of "Hold" and an average price target of $45.60.

About Portland General Electric

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.

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