Zimmer Partners LP Has $88.26 Million Position in Portland General Electric (NYSE:POR)

Zimmer Partners LP grew its stake in Portland General Electric (NYSE:POR) by 107.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,842,542 shares of the utilities provider’s stock after purchasing an additional 952,214 shares during the period. Portland General Electric comprises approximately 1.6% of Zimmer Partners LP’s investment portfolio, making the stock its 19th largest position. Zimmer Partners LP’s holdings in Portland General Electric were worth $88,258,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cetera Investment Advisers grew its stake in shares of Portland General Electric by 228.4% during the first quarter. Cetera Investment Advisers now owns 52,833 shares of the utilities provider’s stock worth $2,219,000 after buying an additional 36,744 shares during the last quarter. Cetera Advisors LLC grew its position in shares of Portland General Electric by 231.6% in the 1st quarter. Cetera Advisors LLC now owns 19,499 shares of the utilities provider’s stock valued at $819,000 after buying an additional 13,618 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Portland General Electric during the 2nd quarter worth approximately $31,557,000. Qsemble Capital Management LP bought a new position in Portland General Electric during the second quarter worth $678,000. Finally, Choreo LLC bought a new position in shares of Portland General Electric during the 2nd quarter worth about $965,000.

Portland General Electric Price Performance

Shares of NYSE:POR opened at $46.01 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. The stock’s fifty day simple moving average is $47.31 and its two-hundred day simple moving average is $46.23. Portland General Electric has a 1-year low of $39.13 and a 1-year high of $49.85. The stock has a market cap of $4.85 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The company had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. During the same period last year, the firm earned $0.46 earnings per share. The firm’s revenue was up 15.8% on a year-over-year basis. As a group, analysts forecast that Portland General Electric will post 3.11 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.35%. Portland General Electric’s dividend payout ratio (DPR) is currently 59.70%.

Insiders Place Their Bets

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the transaction, the senior vice president now directly owns 14,263 shares in the company, valued at $688,902.90. The trade was a 14.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

POR has been the topic of a number of research analyst reports. Evercore ISI began coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price objective on the stock. Jefferies Financial Group started coverage on Portland General Electric in a report on Friday, September 20th. They issued a “hold” rating and a $48.00 price target on the stock. Bank of America started coverage on Portland General Electric in a report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price on the stock. Barclays cut their target price on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Finally, StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $49.13.

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.