Portland General Electric Co. (NYSE:POR) announced a quarterly dividend on Wednesday, July 27th. Shareholders of record on Monday, September 26th will be given a dividend of 0.32 per share on Monday, October 17th. This represents a $1.28 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Thursday, September 22nd.

A number of equities research analysts have commented on the stock. Zacks Investment Research cut shares of Portland General Electric from a “buy” rating to a “hold” rating in a research note on Saturday, August 6th. Goldman Sachs Group Inc. cut shares of Portland General Electric from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $39.00 to $38.00 in a research note on Monday, June 6th. Bank of America Corp. restated a “buy” rating and set a $44.00 target price on shares of Portland General Electric in a research note on Tuesday, May 24th. Finally, Williams Capital raised their target price on shares of Portland General Electric from $41.00 to $45.00 and gave the stock a “hold” rating in a research note on Friday, August 5th. Four research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $41.21.

Shares of Portland General Electric (NYSE:POR) opened at 43.43 on Wednesday. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 20.93 and a beta of 0.30. Portland General Electric has a one year low of $34.97 and a one year high of $45.21. The firm’s 50-day moving average is $42.78 and its 200-day moving average is $41.60.

Portland General Electric (NYSE:POR) last issued its earnings results on Wednesday, August 3rd. The company reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.01. The firm earned $428 million during the quarter, compared to analysts’ expectations of $439.08 million. Portland General Electric had a net margin of 9.79% and a return on equity of 8.15%. Portland General Electric’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. Equities research analysts forecast that Portland General Electric will post $2.12 EPS for the current year.

A number of large investors have recently modified their holdings of POR. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Portland General Electric during the second quarter worth approximately $44,120,000. Canada Pension Plan Investment Board raised its stake in shares of Portland General Electric by 13.5% in the second quarter. Canada Pension Plan Investment Board now owns 579,400 shares of the company’s stock worth $25,563,000 after buying an additional 69,000 shares in the last quarter. Raymond James & Associates raised its stake in shares of Portland General Electric by 53.5% in the second quarter. Raymond James & Associates now owns 187,814 shares of the company’s stock worth $8,286,000 after buying an additional 65,470 shares in the last quarter. Cipher Capital LP raised its stake in shares of Portland General Electric by 180.0% in the second quarter. Cipher Capital LP now owns 98,235 shares of the company’s stock worth $4,335,000 after buying an additional 63,146 shares in the last quarter. Finally, State of Wisconsin Investment Board raised its stake in shares of Portland General Electric by 80.0% in the second quarter. State of Wisconsin Investment Board now owns 135,000 shares of the company’s stock worth $5,956,000 after buying an additional 60,000 shares in the last quarter. Hedge funds and other institutional investors own 94.66% of the company’s stock.

About Portland General Electric

Portland General Electric Company (PGE) is an electric utility company. The Company is engaged in the generation, wholesale purchase, transmission, distribution and retail sale of electricity in the state of Oregon. The Company also sells electricity and natural gas in the wholesale market to utilities, brokers and power marketers.

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