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. Shareholders 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 yield of 4.7%. The ex-dividend date of this dividend is Friday, September 25th.

Portland General Electric has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 2 years. Portland General Electric has a 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 Stock Performance

Shares of Portland General Electric stock opened at $46.95 on Wednesday. The firm has a market capitalization of $5.52 billion, a P/E ratio of 20.75, a PEG ratio of 2.03 and a beta of 0.51. Portland General Electric has a 52 week low of $42.58 and a 52 week high of $54.62. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.26. The company has a 50 day moving average price of $49.75 and a 200 day moving average price of $50.74.

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

Analysts Set New Price Targets

POR has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their target price on Portland General Electric from $56.00 to $53.00 and set a “neutral” rating for the company 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 report on Thursday, August 27th. BMO Capital Markets set a $52.00 price target on Portland General Electric in a research report on Tuesday, August 4th. Zacks Research upgraded Portland General Electric from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, LADENBURG THALM/SH SH upgraded Portland General Electric from a “neutral” rating to a “buy” rating and set a $48.50 price target for the company in a research report on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Portland General Electric currently has an average rating of “Hold” and a consensus price target 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.