Allianz Asset Management GmbH Has $2.33 Million Stock Holdings in Portland General Electric Company $POR

Allianz Asset Management GmbH lowered its stake in shares of Portland General Electric Company (NYSE:POR) by 72.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,988 shares of the utilities provider’s stock after selling 141,480 shares during the period. Allianz Asset Management GmbH’s holdings in Portland General Electric were worth $2,331,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. ATLAS Infrastructure Partners UK Ltd. grew its stake in Portland General Electric by 24.1% in the second quarter. ATLAS Infrastructure Partners UK Ltd. now owns 5,459,258 shares of the utilities provider’s stock valued at $221,810,000 after acquiring an additional 1,058,623 shares during the period. State Street Corp grew its position in shares of Portland General Electric by 2.4% in the 2nd quarter. State Street Corp now owns 4,551,369 shares of the utilities provider’s stock valued at $187,200,000 after purchasing an additional 107,717 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Portland General Electric by 23.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,985,941 shares of the utilities provider’s stock valued at $131,381,000 after purchasing an additional 564,379 shares during the period. Geode Capital Management LLC increased its stake in Portland General Electric by 4.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,764,380 shares of the utilities provider’s stock worth $112,337,000 after purchasing an additional 110,567 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Portland General Electric by 7.3% during the 2nd quarter. Invesco Ltd. now owns 2,449,960 shares of the utilities provider’s stock worth $99,542,000 after buying an additional 167,447 shares during the period.

Portland General Electric Stock Performance

POR opened at $51.66 on Thursday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.95 and a current ratio of 1.08. Portland General Electric Company has a 52-week low of $39.54 and a 52-week high of $51.71. The firm has a market cap of $5.81 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 4.49 and a beta of 0.67. The business’s fifty day moving average is $49.10 and its 200-day moving average is $46.21.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Barclays increased their target price on Portland General Electric from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Mizuho set a $47.00 price objective on Portland General Electric in a research report on Monday, November 3rd. Loop Capital set a $48.00 target price on Portland General Electric in a research report on Tuesday, December 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Portland General Electric in a research note on Monday, December 29th. Finally, LADENBURG THALM/SH SH reaffirmed a “sell” rating and set a $43.00 price target on shares of Portland General Electric in a research report on Thursday, December 4th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $48.42.

Portland General Electric Profile

Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon’s largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.