Brookstone Capital Management Sells 21,939 Shares of Portland General Electric Company $POR

Brookstone Capital Management trimmed its position in shares of Portland General Electric Company (NYSE:POR) by 8.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 226,157 shares of the utilities provider’s stock after selling 21,939 shares during the period. Brookstone Capital Management’s holdings in Portland General Electric were worth $11,934,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC grew its holdings in shares of Portland General Electric by 1,251.4% during the 1st quarter. SG Americas Securities LLC now owns 213,163 shares of the utilities provider’s stock worth $11,249,000 after acquiring an additional 197,390 shares during the period. Evolve Private Wealth LLC lifted its stake in shares of Portland General Electric by 9.8% in the 1st quarter. Evolve Private Wealth LLC now owns 4,723 shares of the utilities provider’s stock valued at $249,000 after purchasing an additional 422 shares during the period. Diversified Trust Co boosted its position in shares of Portland General Electric by 25.0% during the first quarter. Diversified Trust Co now owns 22,254 shares of the utilities provider’s stock valued at $1,174,000 after purchasing an additional 4,455 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Portland General Electric by 33.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,682 shares of the utilities provider’s stock valued at $177,000 after purchasing an additional 927 shares in the last quarter. Finally, World Investment Advisors purchased a new stake in Portland General Electric in the fourth quarter worth $273,000.

Portland General Electric Price Performance

Shares of POR opened at $50.20 on Tuesday. Portland General Electric Company has a twelve month low of $39.54 and a twelve month high of $54.62. The company has a market capitalization of $5.81 billion, a P/E ratio of 22.41, a price-to-earnings-growth ratio of 2.10 and a beta of 0.52. The firm has a 50 day moving average of $50.23 and a 200 day moving average of $50.59. The company has a quick ratio of 0.95, a current ratio of 1.09 and a debt-to-equity ratio of 1.19.

Portland General Electric (NYSE:POR) last issued its earnings results on Thursday, April 30th. The utilities provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.19). The business had revenue of $879.00 million for the quarter, compared to analysts’ expectations of $953.24 million. Portland General Electric had a net margin of 7.12% and a return on equity of 7.57%. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 earnings per share. As a group, equities research analysts anticipate that Portland General Electric Company will post 3.39 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, June 25th will be issued a dividend of $0.5513 per share. The ex-dividend date of this dividend is Thursday, June 25th. This is an increase from Portland General Electric’s previous quarterly dividend of $0.53. This represents a $2.21 dividend on an annualized basis and a dividend yield of 4.4%. Portland General Electric’s dividend payout ratio is currently 93.75%.

Insider Activity at Portland General Electric

In other Portland General Electric news, Director Robert N. Hoglund bought 2,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $48.80 per share, with a total value of $97,600.00. Following the transaction, the director owned 2,519 shares in the company, valued at $122,927.20. This represents a 385.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Juan Diego Gallegos sold 2,750 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $48.67, for a total transaction of $133,842.50. Following the transaction, the vice president owned 12,127 shares in the company, valued at $590,221.09. This represents a 18.48% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.52% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on POR. Wells Fargo & Company set a $51.00 price objective on Portland General Electric in a research report on Tuesday, April 21st. JPMorgan Chase & Co. upped their target price on shares of Portland General Electric from $51.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Portland General Electric in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $51.00.

About Portland General Electric

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.