Portland General Electric Company (POR) To Go Ex-Dividend on June 25th

Portland General Electric Company (NYSE:PORGet Free Report) announced a quarterly dividend on Friday, April 24th. Shareholders of record on Thursday, June 25th will be given a dividend of 0.5513 per share by the utilities provider on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Thursday, June 25th. This is a 5.0% increase from Portland General Electric’s previous quarterly dividend of $0.53.

Portland General Electric has raised its dividend payment 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. 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 Trading Up 0.0%

Shares of POR opened at $50.20 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 0.95 and a debt-to-equity ratio of 1.19. The stock has a market cap of $5.81 billion, a PE ratio of 22.41, a PEG ratio of 2.10 and a beta of 0.52. Portland General Electric has a 1 year low of $39.54 and a 1 year high of $54.62. The stock has a 50 day simple moving average of $50.23 and a 200-day simple moving average of $50.59.

Portland General Electric (NYSE:PORGet Free Report) last announced its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.19). Portland General Electric had a net margin of 7.12% and a return on equity of 7.57%. The company had revenue of $879.00 million during the quarter, compared to the consensus estimate of $953.24 million. During the same quarter last year, the company earned $0.91 earnings per share. The business’s revenue was down 5.3% on a year-over-year basis. On average, sell-side analysts predict that Portland General Electric will post 3.39 EPS for the current fiscal year.

Insider Transactions at Portland General Electric

In related news, VP Juan Diego Gallegos sold 2,750 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $48.67, for a total transaction of $133,842.50. Following the transaction, the vice president owned 12,127 shares in the company, valued at $590,221.09. This represents a 18.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joseph R. Trpik, Jr. sold 7,500 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $49.03, for a total transaction of $367,725.00. Following the sale, the chief financial officer directly owned 31,897 shares in the company, valued at approximately $1,563,909.91. This represents a 19.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Portland General Electric

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Portland General Electric by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 13,020,573 shares of the utilities provider’s stock valued at $624,857,000 after purchasing an additional 513,517 shares in the last quarter. State Street Corp lifted its holdings in Portland General Electric by 3.4% during the 4th quarter. State Street Corp now owns 4,728,784 shares of the utilities provider’s stock worth $229,333,000 after buying an additional 156,164 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Portland General Electric by 1,342.7% during the 4th quarter. Clearbridge Investments LLC now owns 4,643,134 shares of the utilities provider’s stock worth $222,824,000 after buying an additional 4,321,305 shares in the last quarter. AQR Capital Management LLC boosted its position in Portland General Electric by 42.2% in the 4th quarter. AQR Capital Management LLC now owns 3,551,731 shares of the utilities provider’s stock valued at $170,448,000 after buying an additional 1,054,450 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Portland General Electric by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 2,805,796 shares of the utilities provider’s stock valued at $134,680,000 after buying an additional 73,185 shares during the last quarter.

About Portland General Electric

(Get Free Report)

Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon’s largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.

Further Reading

Dividend History for Portland General Electric (NYSE:POR)

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