BlackRock Amends PGE Stake, Maintains Significant Ownership
Ticker: POR · Form: SC 13G/A · Filed: Jan 23, 2024 · CIK: 784977
| Field | Detail |
|---|---|
| Company | Portland General Electric Co /Or/ (POR) |
| Form Type | SC 13G/A |
| Filed Date | Jan 23, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, utility-sector
TL;DR
**BlackRock still owns a big chunk of Portland General Electric.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 23, 2024, disclosing its ownership in Portland General Electric Co /OR/ as of December 31, 2023. This filing, Amendment No. 2, indicates BlackRock's continued significant stake in the utility company. For investors, this means a major institutional investor maintains confidence in Portland General Electric, which can signal stability but also means a large block of shares is controlled by a single entity, potentially influencing stock movements.
Why It Matters
This filing shows that BlackRock, a massive asset manager, continues to hold a substantial position in Portland General Electric, signaling its ongoing investment conviction in the utility.
Risk Assessment
Risk Level: low — This filing is routine for large institutional investors and doesn't indicate any immediate negative risks for the company.
Analyst Insight
Investors should note BlackRock's continued presence as a significant shareholder, which can be a sign of stability, but this filing alone doesn't suggest a need for immediate action.
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- Portland General Electric Co /OR/ (company) — the subject company in which shares are held
- December 31, 2023 (date) — the date of the event requiring the filing
- January 23, 2024 (date) — the filing date of the SC 13G/A
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, specifically Amendment No. 2, as stated in the filing.
Who is the reporting person in this filing?
The reporting person is BlackRock, Inc., as explicitly stated under 'Names of reporting persons' in the filing.
What is the subject company of this filing?
The subject company is PORTLAND GENERAL ELECTRIC CO /OR/, as indicated under 'Name of Issuer' and 'SUBJECT COMPANY' data.
What is the CUSIP number for the securities mentioned?
The CUSIP number for the Common Stock of Portland General Electric Co is 736508847, as listed in the filing.
As of what date does the event requiring this filing occur?
The date of the event which requires the filing of this statement is December 31, 2023, as specified in the document.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 23, 2024 regarding PORTLAND GENERAL ELECTRIC CO /OR/ (POR).