Portland General Electric Company (NYSE:POR) to Issue $0.55 Quarterly Dividend

Portland General Electric Company (NYSE:POR) declared a quarterly dividend on Friday, July 24th. Investors 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%per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Portland General Electric has a dividend payout ratio of 65.3% indicating that its dividend is sufficiently covered by earnings. Equities research 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 NYSE POR opened at $47.40 on Wednesday. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 2.03 and a beta of 0.51. The company has a 50 day simple moving average of $49.75 and a two-hundred day simple moving average of $50.74. Portland General Electric has a 12 month low of $42.56 and a 12 month high of $54.62. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

Portland General Electric (NYSE:POR) last released its quarterly earnings results 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 firm had revenue of $814.00 million for the quarter, compared to analyst estimates of $839.75 million. Portland General Electric had a net margin of 7.27% and a return on equity of 7.47%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 EPS. As a group, analysts predict that Portland General Electric will post 3.38 earnings per share for the current year.

Insider Transactions at Portland General Electric

In other news, Director Michael Lewis sold 1,537 shares of Portland General Electric stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $51.83, for a total transaction of $79,662.71. Following the completion of the sale, the director directly owned 15,045 shares in the company, valued at approximately $779,782.35. This trade represents a 9.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.52% of the company’s stock.

Institutional Trading of Portland General Electric

A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Portland General Electric by 7.4% during the 2nd quarter. BlackRock Inc. now owns 18,719,655 shares of the utilities provider’s stock worth $970,240,000 after buying an additional 1,292,219 shares during the last quarter. State Street Corp increased its holdings in Portland General Electric by 8.0% during the 2nd quarter. State Street Corp now owns 5,019,860 shares of the utilities provider’s stock valued at $262,810,000 after acquiring an additional 372,165 shares in the last quarter. Clearbridge Investments LLC raised its position in Portland General Electric by 1,342.7% during the fourth quarter. Clearbridge Investments LLC now owns 4,643,134 shares of the utilities provider’s stock worth $222,824,000 after acquiring an additional 4,321,305 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Portland General Electric by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 2,805,796 shares of the utilities provider’s stock valued at $134,680,000 after purchasing an additional 73,185 shares in the last quarter. Finally, HITE Hedge Asset Management LLC grew its position in shares of Portland General Electric by 27.7% in the fourth quarter. HITE Hedge Asset Management LLC now owns 2,654,761 shares of the utilities provider’s stock valued at $127,402,000 after purchasing an additional 576,275 shares during the last quarter.

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.