Portland General Electric Plans Quarterly Dividend of $0.34 (POR)

Portland General Electric (NYSE:POR) declared a quarterly dividend on Wednesday, February 14th, RTT News reports. Stockholders of record on Monday, March 26th will be given a dividend of 0.34 per share by the utilities provider on Monday, April 16th. This represents a $1.36 annualized dividend and a dividend yield of 3.41%.

Portland General Electric has raised its dividend payment by an average of 5.9% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Portland General Electric has a payout ratio of 60.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Portland General Electric to earn $2.25 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 60.4%.

Portland General Electric (NYSE POR) traded down $0.49 during trading on Wednesday, hitting $39.94. The stock had a trading volume of 921,630 shares, compared to its average volume of 861,091. The stock has a market cap of $3,606.46, a PE ratio of 17.37, a P/E/G ratio of 4.97 and a beta of 0.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.95. Portland General Electric has a 12 month low of $39.40 and a 12 month high of $50.11.

POR has been the subject of several research analyst reports. Zacks Investment Research cut Portland General Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. Bank of America initiated coverage on Portland General Electric in a research note on Tuesday, October 24th. They set a “neutral” rating and a $45.00 target price for the company. JPMorgan Chase & Co. increased their target price on Portland General Electric from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. Guggenheim reissued a “hold” rating and set a $48.00 price target on shares of Portland General Electric in a research report on Wednesday, January 3rd. Finally, UBS Group started coverage on Portland General Electric in a research report on Friday, February 2nd. They set a “sell” rating and a $40.00 price target on the stock. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Portland General Electric currently has a consensus rating of “Hold” and a consensus target price of $44.25.

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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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