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

Portland General Electric (NYSE:POR) announced 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 4.79%.

Portland General Electric has increased its dividend by an average of 5.2% annually over the last three years. Portland General Electric has a payout ratio of 59.7% meaning its dividend is sufficiently covered by earnings. 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 %

NYSE POR opened at $41.78 on Thursday. Portland General Electric has a 1 year low of $39.42 and a 1 year high of $49.85. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. The company has a market capitalization of $4.41 billion, a PE ratio of 12.47, a P/E/G ratio of 1.05 and a beta of 0.61. The company has a fifty day moving average of $42.86 and a 200 day moving average of $45.83.

Analyst Ratings Changes

A number of brokerages have recently commented on POR. Jefferies Financial Group lowered their target price on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. KeyCorp lowered their price objective on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Bank of America lowered their price target on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a report on Tuesday, December 24th. JPMorgan Chase & Co. lifted their price objective on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Barclays lowered their target price on shares of Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Portland General Electric currently has an average rating of “Hold” and an average 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.