Portland General Electric Company (POR) to Distribute Quarterly Dividend of $0.55 on October 15th

Portland General Electric Company (NYSE:POR) announced a quarterly dividend on Friday, July 24th. Investors of record on Friday, September 25th will be paid a dividend of 0.5513 per share by the utilities provider on Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Friday, September 25th.

Portland General Electric has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 2 years. Portland General Electric has a dividend payout ratio of 65.3% meaning its dividend is sufficiently covered by earnings. Equities research 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 Down 1.0%

NYSE:POR traded down $0.46 during trading hours on Wednesday, hitting $46.91. The company had a trading volume of 91,297 shares, compared to its average volume of 1,217,122. Portland General Electric has a 1 year low of $42.58 and a 1 year high of $54.62. The company has a market cap of $5.52 billion, a P/E ratio of 20.65, a P/E/G ratio of 2.03 and a beta of 0.51. The company has a 50-day moving average of $49.75 and a 200 day moving average of $50.74. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

Portland General Electric (NYSE:POR) last posted its earnings results on Thursday, July 30th. The utilities provider reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The business had revenue of $814.00 million during the quarter, compared to analysts’ expectations of $839.75 million. Portland General Electric had a net margin of 7.27% and a return on equity of 7.47%. Portland General Electric’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 EPS. Sell-side analysts expect that Portland General Electric will post 3.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. LADENBURG THALM/SH SH raised Portland General Electric from a “neutral” rating to a “buy” rating and set a $48.50 price target on the stock in a research report on Thursday, August 13th. BMO Capital Markets set a $52.00 target price on shares of Portland General Electric in a research note on Tuesday, August 4th. JPMorgan Chase & Co. reduced their target price on shares of Portland General Electric from $56.00 to $53.00 and set a “neutral” rating on the stock in a report on Wednesday, September 9th. Weiss Ratings downgraded shares of Portland General Electric from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, August 27th. Finally, Zacks Research raised shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $51.15.

About Portland General Electric

Portland General Electric Company (NYSE: POR) is an investor-owned electric utility that generates, purchases, transmits, distributes and sells electricity in Oregon. The company serves residential, commercial, industrial and other customers, offering electric delivery and related energy services across its service territory.

Founded in 1889, Portland General Electric is headquartered in Portland, Oregon, and serves communities in the Portland metropolitan area and the Willamette Valley, among other parts of the state.