Portland General Electric Company (POR) to Issue Quarterly Dividend of $0.34 on July 17th
Portland General Electric Company (NYSE:POR) announced a quarterly dividend on Wednesday, April 26th, RTT News reports. Investors of record on Monday, June 26th will be given a dividend of 0.34 per share by the utilities provider on Monday, July 17th. This represents a $1.36 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Thursday, June 22nd. This is a boost from Portland General Electric Company’s previous quarterly dividend of $0.32.
Portland General Electric Company has increased its dividend by an average of 4.4% per year over the last three years and has raised its dividend annually for the last 11 consecutive years. Portland General Electric Company has a dividend payout ratio of 59.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Portland General Electric Company to earn $2.44 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 55.7%.
Shares of Portland General Electric Company (NYSE POR) opened at 47.77 on Friday. Portland General Electric Company has a 12-month low of $40.28 and a 12-month high of $48.06. The company has a 50 day moving average price of $46.20 and a 200 day moving average price of $44.55. The company has a market capitalization of $4.25 billion, a P/E ratio of 20.77 and a beta of 0.33.
Portland General Electric Company (NYSE:POR) last posted its earnings results on Friday, April 28th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.82. Portland General Electric Company had a return on equity of 8.78% and a net margin of 10.43%. The firm had revenue of $530 million for the quarter, compared to analyst estimates of $521.97 million. During the same quarter in the prior year, the company earned $0.68 EPS. Portland General Electric Company’s revenue was up 8.8% on a year-over-year basis. Equities analysts anticipate that Portland General Electric Company will post $2.25 EPS for the current year.
In other Portland General Electric Company news, VP Campbell A. Henderson sold 3,000 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $45.01, for a total value of $135,030.00. Following the sale, the vice president now owns 20,424 shares of the company’s stock, valued at approximately $919,284.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William O. Nicholson sold 6,000 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $45.10, for a total value of $270,600.00. Following the completion of the sale, the insider now directly owns 16,313 shares in the company, valued at approximately $735,716.30. The disclosure for this sale can be found here. 0.55% of the stock is owned by company insiders.
Several equities analysts recently issued reports on POR shares. Barclays PLC reissued an “underweight” rating and set a $44.00 target price (up previously from $41.00) on shares of Portland General Electric Company in a research note on Sunday, April 23rd. Zacks Investment Research raised Portland General Electric Company from a “sell” rating to a “hold” rating in a research note on Thursday, April 13th. Finally, Wolfe Research lowered Portland General Electric Company from a “market perform” rating to an “underperform” rating in a research note on Tuesday, February 21st. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $44.20.
Portland General Electric Company Company Profile
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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