Portland General Electric (NYSE:POR) Declares $0.50 Quarterly Dividend

Portland General Electric (NYSE:POR) declared a quarterly dividend on Wednesday, February 12th, RTT News reports. Stockholders of record on Monday, March 24th will be given a dividend of 0.50 per share by the utilities provider on Tuesday, April 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date is Monday, March 24th.

Portland General Electric has raised its dividend payment by an average of 5.2% annually over the last three years. Portland General Electric has a dividend payout ratio of 59.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Portland General Electric to earn $3.34 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 59.9%.

Portland General Electric Stock Down 1.4 %

POR opened at $43.73 on Friday. The firm has a market cap of $4.79 billion, a P/E ratio of 14.53, a PEG ratio of 1.11 and a beta of 0.55. The business’s fifty day simple moving average is $42.80 and its 200 day simple moving average is $45.23. Portland General Electric has a 52 week low of $40.05 and a 52 week high of $49.85. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. The company had revenue of $824.00 million for the quarter, compared to analysts’ expectations of $716.17 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. During the same period last year, the company earned $0.67 EPS. As a group, equities research analysts anticipate that Portland General Electric will post 3.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on POR shares. LADENBURG THALM/SH SH downgraded Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target for the company. in a report on Tuesday, February 18th. Evercore ISI upped their target price on Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. KeyCorp decreased their price target on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Jefferies Financial Group dropped their price objective on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. Finally, Barclays increased their price objective on shares of Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $47.00.

Insider Transactions at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the transaction, the chief financial officer now directly owns 31,960 shares of the company’s stock, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.40% of the company’s stock.

Portland General Electric Company Profile

Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. It operates six thermal plants, three wind farms, and seven hydroelectric facilities. As of December 31, 2023, the company owned an electric transmission system consisting of 1,254 circuit miles, including 287 circuit miles of 500 kilovolt line, 413 circuit miles of 230 kilovolt line, and 554 miles of 115 kilovolt line; and served 934 thousand retail customers in 51 cities.