10 Overlooked Dividend Stocks to Buy Now

6. Portland General Electric Company (NYSE:POR)

Number of Hedge Fund Holders: 27

Portland General Electric Company (NYSE:POR), a publicly traded utility based in Oregon, is involved in the generation, transmission, and distribution of electricity. While it may not be a prominent name in the utility space, the company holds a strategic advantage due to the presence of Transpacific communication cables within its service region. This positioning has made it an important player for the tech sector, especially as a preferred site for data center development.

In the first quarter of 2025, Portland General Electric Company (NYSE:POR) reported revenue of $928 million, which fell by 0.11% from the same period last year and also missed analysts’ estimates by $42.5 million. However, Q1 financial performance was boosted by robust energy demand from the high-tech sector and data centers, resulting in a 4.6% increase in overall load compared to the previous quarter, with industrial load rising by 16.4%.

Portland General Electric Company (NYSE:POR) has reaffirmed its full-year 2025 adjusted earnings guidance, maintaining its projection of $3.13 to $3.33 per diluted share. This outlook is based on key assumptions, including a weather-adjusted increase in energy deliveries of 2.5% to 3.5%, along with the effective implementation of power cost and financing strategies, as well as disciplined control over operating expenses.

Portland General Electric Company (NYSE:POR) ended the quarter with $11 million available in cash and cash equivalents. It generated $231 million in operating cash flow, up from $175 million in the prior-year period. On April 20, the company announced a 5% hike in its quarterly dividend to $0.525 per share. This marked the 19th consecutive year in which the company has raised its dividend, which makes it one of the best overlooked stocks that pay dividends. The stock also offers an attractive dividend yield of 5.08%, as of April 25.