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. Investors 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 annualized dividend and a yield of 4.79%.

Portland General Electric has raised its dividend by an average of 5.2% per year over the last three years. Portland General Electric has a payout ratio of 59.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Portland General Electric to earn $3.21 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 62.3%.

Portland General Electric Trading Down 0.3 %

POR stock traded down $0.14 during midday trading on Wednesday, reaching $41.78. The company’s stock had a trading volume of 930,484 shares, compared to its average volume of 1,133,810. The business’s 50-day simple moving average is $42.86 and its 200-day simple moving average is $45.83. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. The stock has a market cap of $4.41 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 1.05 and a beta of 0.61. Portland General Electric has a 52 week low of $39.42 and a 52 week high of $49.85.

Analyst Ratings Changes

A number of research analysts have recently commented on POR shares. Barclays decreased their price objective on shares of Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. UBS Group restated a “neutral” rating and issued a $47.00 price target (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. JPMorgan Chase & Co. raised their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group reduced 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, Bank of America lowered their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a report on Tuesday, December 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $47.38.

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.