Portland General Electric Company (NYSE:POR) Announces Quarterly Dividend of $0.55

Portland General Electric Company (NYSE:POR) announced a quarterly dividend on Friday, April 24th. Investors of record on Thursday, June 25th will be given a dividend of 0.5513 per share by the utilities provider on Wednesday, July 15th. This represents a c) 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 5.0% increase from Portland General Electric’s previous quarterly dividend of $0.53.

Portland General Electric has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Portland General Electric has a dividend payout ratio of 65.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Portland General Electric to earn $3.56 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 61.8%.

Portland General Electric Trading Up 0.0%

Portland General Electric stock opened at $50.20 on Tuesday. The business has a 50 day moving average price of $50.23 and a two-hundred day moving average price 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 has a 12 month low of $39.54 and a 12 month high of $54.62. The stock has a market cap of $5.81 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 2.10 and a beta of 0.52.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Thursday, April 30th. The utilities provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.19). The firm had revenue of $879.00 million for the quarter, compared to analyst estimates of $953.24 million. Portland General Electric had a return on equity of 7.57% and a net margin of 7.12%.Portland General Electric’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.91 EPS. As a group, equities analysts forecast that Portland General Electric will post 3.39 EPS for the current year.

Analyst Upgrades and Downgrades

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