Portland General Electric (NYSE:POR) announced a quarterly dividend on Friday, July 31st, Wall Street Journal reports. Investors of record on Friday, September 25th will be paid a dividend of 0.4075 per share by the utilities provider on Thursday, October 15th. This represents a $1.63 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Thursday, September 24th. This is a boost from Portland General Electric’s previous quarterly dividend of $0.39.
Portland General Electric has raised its dividend payment by an average of 20.4% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Portland General Electric has a dividend payout ratio of 65.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Portland General Electric to earn $2.61 per share next year, which means the company should continue to be able to cover its $1.54 annual dividend with an expected future payout ratio of 59.0%.
POR stock opened at $44.13 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The firm has a 50 day simple moving average of $42.97 and a 200-day simple moving average of $49.52. The company has a market capitalization of $3.95 billion, a P/E ratio of 17.79, a PEG ratio of 3.50 and a beta of 0.31. Portland General Electric has a twelve month low of $37.83 and a twelve month high of $63.08.
Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, July 31st. The utilities provider reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.10. The firm had revenue of $469.00 million for the quarter, compared to the consensus estimate of $455.83 million. Portland General Electric had a net margin of 10.46% and a return on equity of 8.59%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 EPS. On average, research analysts predict that Portland General Electric will post 2.4 EPS for the current year.
POR has been the subject of a number of research reports. TheStreet downgraded Portland General Electric from a “b-” rating to a “c+” rating in a research note on Monday, July 27th. Zacks Investment Research upgraded Portland General Electric from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Tuesday, June 30th. Wells Fargo & Co dropped their price target on Portland General Electric from $64.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Monday, April 27th. Mizuho cut Portland General Electric from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $47.00 to $44.50 in a research note on Tuesday, May 12th. They noted that the move was a valuation call. Finally, Wolfe Research upgraded shares of Portland General Electric from an “underperform” rating to a “peer perform” rating and set a $43.00 target price for the company in a research note on Friday, July 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Portland General Electric has an average rating of “Hold” and a consensus price target of $48.94.
Portland General Electric Company Profile
Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. The company operates seven thermal plants; seven hydroelectric plants; and two wind farms. As of December 31, 2018, it owned an electric transmission system consisting of 1,256 circuit miles, including 287 circuit miles of 500 kilovolt line, 410 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.
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