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 paid a dividend of 0.5513 per share by the utilities provider on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 4.4%. The ex-dividend date 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 payment 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. 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%

NYSE:POR opened at $50.20 on Tuesday. Portland General Electric has a 12-month low of $39.54 and a 12-month high of $54.62. The firm has a market capitalization of $5.81 billion, a P/E ratio of 22.41, a P/E/G ratio of 2.10 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.09 and a quick ratio of 0.95. The business has a 50 day simple moving average of $50.23 and a 200 day simple moving average of $50.59.

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

Analysts Set New Price Targets

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

Portland General Electric Company Profile

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.