Brookstone Capital Management Lowers Position in Portland General Electric Company $POR

Key Points

• Brookstone Capital Management cut its stake in Portland General Electric by 8.8% in the first quarter, selling 21,939 shares and ending with 226,157 shares valued at about $11.9 million.
• The company reported weaker-than-expected first-quarter earnings, with EPS of $0.58 versus the $0.77 estimate and revenue of $879 million, down 5.3% from a year earlier.
• Portland General Electric raised its quarterly dividend to $0.5513 per share, bringing the annualized yield to 4.4%, while Wall Street currently rates the stock a consensus Hold with a $51 price target.

Brookstone Capital Management lessened its holdings in shares of Portland General Electric Company (NYSE:POR - Free Report) by 8.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 226,157 shares of the utilities provider's stock after selling 21,939 shares during the quarter. Brookstone Capital Management owned about 0.20% of Portland General Electric worth $11,934,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Portland General Electric by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 13,020,573 shares of the utilities provider's stock valued at $624,857,000 after purchasing an additional 513,517 shares during the last quarter. State Street Corp increased its holdings in shares of Portland General Electric by 3.4% in the 4th quarter. State Street Corp now owns 4,728,784 shares of the utilities provider's stock worth $229,333,000 after buying an additional 156,164 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Portland General Electric by 1,342.7% in the 4th quarter. Clearbridge Investments LLC now owns 4,643,134 shares of the utilities provider's stock worth $222,824,000 after buying an additional 4,321,305 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Portland General Electric by 42.2% during the 4th quarter. AQR Capital Management LLC now owns 3,551,731 shares of the utilities provider's stock valued at $170,448,000 after buying an additional 1,054,450 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Portland General Electric by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 2,805,796 shares of the utilities provider's stock valued at $134,680,000 after buying an additional 73,185 shares in the last quarter.

Insider Buying and Selling at Portland General Electric

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

Portland General Electric Trading Up 0.0%

NYSE:POR opened at $50.20 on Tuesday. The firm has a market capitalization of $5.81 billion, a P/E ratio of 22.41, a P/E/G ratio of 2.10 and a beta of 0.52. The company has a quick ratio of 0.95, a current ratio of 1.09 and a debt-to-equity ratio of 1.19. The company has a fifty day moving average of $50.23 and a 200 day moving average of $50.59. Portland General Electric Company has a 52 week low of $39.54 and a 52 week high of $54.62.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.19). Portland General Electric had a return on equity of 7.57% and a net margin of 7.12%.The firm had revenue of $879.00 million during the quarter, compared to the consensus estimate of $953.24 million. During the same period last year, the business earned $0.91 EPS. Portland General Electric's revenue was down 5.3% on a year-over-year basis. On average, research analysts predict that Portland General Electric Company will post 3.39 earnings per share for the current year.

Portland General Electric Increases Dividend

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

Wall Street Analyst Weigh In

POR has been the subject of several research reports. Wells Fargo & Company set a $51.00 target price on shares of Portland General Electric in a research report on Tuesday, April 21st. JPMorgan Chase & Co. raised their price target on Portland General Electric from $51.00 to $54.00 and gave the company a "neutral" rating in a research report on Monday, April 20th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Portland General Electric in a research note on Friday, May 15th. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $51.00.

Portland General Electric Company 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.

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