Portland General Electric Co. (POR) Announces Quarterly Dividend of $0.32

Portland General Electric Co. (NYSE:POR) announced a quarterly dividend on Wednesday, July 27th. Shareholders of record on Monday, September 26th will be paid a dividend of 0.32 per share on Monday, October 17th. This represents a $1.28 dividend on an annualized basis and a yield of 2.93%.

A number of brokerages have commented on POR. Zacks Investment Research raised Portland General Electric from a “sell” rating to a “hold” rating in a research report on Saturday. Goldman Sachs Group Inc. cut Portland General Electric from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $39.00 to $38.00 in a report on Monday, June 6th. Bank of America Corp. reissued a “buy” rating and issued a $44.00 price objective on shares of Portland General Electric in a report on Tuesday, May 24th. Finally, Deutsche Bank AG reissued a “hold” rating on shares of Portland General Electric in a report on Monday, April 18th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Portland General Electric has an average rating of “Hold” and an average price target of $39.79.

Portland General Electric (NYSE:POR) traded down 1.24% during trading on Wednesday, reaching $43.73. The company had a trading volume of 496,808 shares. The firm has a 50-day moving average of $43.36 and a 200-day moving average of $40.29. The stock has a market capitalization of $3.89 billion and a price-to-earnings ratio of 20.86. Portland General Electric has a 1-year low of $33.33 and a 1-year high of $45.21.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, April 29th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.61 by $0.07. During the same period last year, the company earned $0.62 EPS. The business earned $487 million during the quarter, compared to analysts’ expectations of $520.83 million. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, analysts anticipate that Portland General Electric will post $2.11 EPS for the current fiscal year.

In other Portland General Electric news, VP Maria M. Pope sold 13,500 shares of the firm’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $41.60, for a total transaction of $561,600.00. Following the transaction, the vice president now owns 13,585 shares of the company’s stock, valued at $565,136. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Portland General Electric Company (PGE) is an electric utility company. The Company is engaged in the generation, wholesale purchase, transmission, distribution and retail sale of electricity in the state of Oregon. The Company also sells electricity and natural gas in the wholesale market to utilities, brokers and power marketers.