Portland General Electric (NYSE:POR) declared a quarterly dividend on Wednesday, October 25th, RTT News reports. Stockholders of record on Tuesday, December 26th will be given a dividend of 0.34 per share by the utilities provider on Tuesday, January 16th. This represents a $1.36 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Friday, December 22nd.

Portland General Electric has increased its dividend by an average of 4.4% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Portland General Electric has a dividend payout ratio of 60.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Portland General Electric to earn $2.29 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 59.4%.

Portland General Electric (NYSE:POR) opened at $46.01 on Thursday. Portland General Electric has a 1-year low of $42.35 and a 1-year high of $50.11. The company has a current ratio of 0.95, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $4,136.56, a PE ratio of 20.19, a PEG ratio of 5.41 and a beta of 0.30.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, October 27th. The utilities provider reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.06. Portland General Electric had a return on equity of 8.65% and a net margin of 10.21%. The business had revenue of $515.00 million for the quarter, compared to analysts’ expectations of $497.85 million. During the same quarter in the previous year, the business posted $0.38 EPS. Portland General Electric’s revenue for the quarter was up 6.4% on a year-over-year basis. analysts forecast that Portland General Electric will post 2.26 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on POR shares. BidaskClub upgraded Portland General Electric from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. KeyCorp reiterated a “hold” rating on shares of Portland General Electric in a report on Friday, September 1st. Zacks Investment Research upgraded Portland General Electric from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. J P Morgan Chase & Co lifted their price objective on Portland General Electric from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, October 12th. Finally, Bank of America started coverage on Portland General Electric in a report on Tuesday, October 24th. They set a “neutral” rating and a $45.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $46.00.

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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.

Dividend History for Portland General Electric (NYSE:POR)

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