Zimmer Partners Exits Portland General Electric Position

TL;DR

**Zimmer Partners dumped all its PGE shares, now owns 0%.**

AI Summary

Zimmer Partners, LP, an investment adviser, filed an amended SC 13G/A on February 13, 2024, for Portland General Electric Company (PGE). This filing indicates that as of December 31, 2023, Zimmer Partners, LP, along with its affiliates Stuart J. Zimmer and Zimmer Financial Services Group LLC, no longer beneficially owns any shares of PGE's common stock, reducing their ownership from a previously undisclosed amount to 0%. This matters to investors because a significant institutional investor has completely exited its position, which could signal a change in their outlook on PGE's future performance or valuation.

Why It Matters

This complete divestment by Zimmer Partners, LP, an institutional investor, could be interpreted by the market as a bearish signal for Portland General Electric Company, potentially influencing other investors' decisions.

Risk Assessment

Risk Level: medium — The complete exit of an institutional investor can create selling pressure or signal underlying concerns, posing a medium risk to current and prospective shareholders.

Analyst Insight

A smart investor would investigate the reasons behind Zimmer Partners' complete exit from Portland General Electric Company, potentially looking for any negative news or changes in the company's fundamentals that might have prompted this divestment, before making any investment decisions.

Key Numbers

• 0 — Shares Beneficially Owned (Zimmer Partners, LP, now holds zero shares of Portland General Electric Company.)
• 0% — Percent of Class (This represents 0% of Portland General Electric Company's common stock, indicating a complete divestment.)
• December 31, 2023 — Date of Event (This is the date as of which the beneficial ownership changed to 0%.)

Key Players & Entities

• Zimmer Partners, LP (company) — the reporting person and investment adviser that divested its shares
• Portland General Electric Company (company) — the issuer whose shares were divested
• Stuart J. Zimmer (person) — a group member associated with Zimmer Financial Services Group LLC
• Zimmer Financial Services Group LLC (company) — a group member associated with the reporting person
• 0% (dollar_amount) — the percentage of class represented by shares beneficially owned as of December 31, 2023

Forward-Looking Statements

• Other institutional investors may re-evaluate their positions in Portland General Electric Company following Zimmer Partners' complete divestment. (Portland General Electric Company) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• form_sc13ga-portland.htm (SC 13G/A) — 55KB
• 0001011438-24-000185.txt ( ) — 57KB

(a) Name of Issuer

Item 1(a) Name of Issuer. Portland General Electric Company (the "Issuer")

(b) Address of Issuer's Principal Executive Offices

Item 1(b) Address of Issuer's Principal Executive Offices. 121 Southwest Salmon Street Portland, OR 97204

(a) Name of Person Filing

Item 2(a) Name of Person Filing. (1) Zimmer Partners, LP (2) Zimmer Financial Services Group LLC (3) Zimmer Partners GP, LLC (4) Stuart J. Zimmer

(b) Address of Principal Business Office, or, if none, Residence

Item 2(b) Address of Principal Business Office, or, if none, Residence. For all Filers: 9 West 57 th Street, 33rd Floor New York, NY 10019

(c) Citizenship or Place of Organization

Item 2(c) Citizenship or Place of Organization. (1) Zimmer Partners, LP is a Delaware limited partnership. (2) Zimmer Financial Services Group LLC is a Delaware limited liability company. (3) Zimmer Partners GP, LLC is a Delaware limited liability company. (4) Stuart J. Zimmer is a U.S. citizen.

(d) Title of Class of Securities

Item 2(d) Title of Class of Securities. Common Stock, no par value per share ("Common Stock")

(e) CUSIP Number

Item 2(e) CUSIP Number. 736508847

Reporting Person

Item 3 Reporting Person. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is a: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) An investment advisor in accordance with 240.13d-1(b)(1)(ii)(E). (f) An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F). (g) A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G). (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813). (i) A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3). (j) Group, in accordance with 240.13d-1(b)(1)(ii)(J).

Ownership

Item 4 Ownership. (a) The Reporting Persons are not the beneficial owners of any Common Stock. (b) The Reporting Persons may be deemed the beneficial owners of 0% of the outstanding Common Stock. (c) The Reporting Persons do not have the shared power to vote and dispose of any Common Stock.

Ownership of Five Percent or Less of a Class

Item 5 Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [X].

Ownership of More Than Five Percent on Behalf of Another Person

Item 6 Ownership of More Than Five Percent on Behalf of Another Person. Not applicable. Item 7 Identification and Classification of the Subsidiary Which Acquired the Security Being Report on by the Parent Holding Company or Control Person Not applicable. Item 8 Identification and Classification of Members of the Group Not applicable. Item 9 Notice of Dissolution of Group Not applicable Item 10 Certification. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 Zimmer Partners, LP By: Zimmer Partners GP, LLC, its general partner By: /s/ Barbara Burger BARBARA BURGER, Authorized Signatory Zimmer Financial Services Group LLC By: /s/ Stuart J. Zimmer STUART J. ZIMMER, Director Zimmer Partners GP, LLC By: Zimmer Financial Services Group LLC, Sole Member By: /s/ Stuart J. Zimmer STUART J. ZIMMER, Director /s/ Stuart J. Zimmer Stuart J. Zimmer

View Full Filing

View this SC 13G/A filing on SEC EDGAR