Portland General Electric Company (POR) To Go Ex-Dividend on September 22nd
Portland General Electric Company (NYSE:POR) announced a quarterly dividend on Wednesday, July 26th, RTT News reports. Investors of record on Monday, September 25th will be paid a dividend of 0.34 per share by the utilities provider on Monday, October 16th. This represents a $1.36 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, September 22nd.
Portland General Electric has increased its dividend payment by an average of 4.4% annually over the last three years and has increased its dividend every year for the last 11 years. Portland General Electric has a dividend payout ratio of 60.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Portland General Electric to earn $2.40 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 56.7%.
Portland General Electric (NYSE:POR) opened at 46.96 on Friday. The firm’s 50-day moving average is $46.59 and its 200 day moving average is $45.84. Portland General Electric has a 12-month low of $40.28 and a 12-month high of $48.22. The stock has a market capitalization of $4.18 billion, a P/E ratio of 20.96 and a beta of 0.29.
Portland General Electric (NYSE:POR) last issued its earnings results on Friday, July 28th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). Portland General Electric had a return on equity of 8.48% and a net margin of 10.06%. The firm had revenue of $449.00 million during the quarter, compared to analyst estimates of $465.70 million. During the same period in the previous year, the company earned $0.42 EPS. Portland General Electric’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts anticipate that Portland General Electric will post $2.22 earnings per share for the current year.
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POR has been the subject of several recent research reports. Zacks Investment Research raised Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, May 23rd. BidaskClub cut Portland General Electric from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Williams Capital cut Portland General Electric from a “hold” rating to a “sell” rating and decreased their price target for the company from $44.00 to $41.00 in a research note on Monday, July 24th. Finally, KeyCorp reissued a “hold” rating on shares of Portland General Electric in a research note on Friday, September 1st. Five investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $42.00.
About Portland General Electric
Portland General Electric Company is an electric utility that is engaged in the wholesale purchase, transmission, distribution and retail sale of electricity in the State of Oregon. Its service area allocation of approximately 4,000 square miles is located entirely within Oregon and includes approximately 51 incorporated cities, of which Portland and Salem.
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