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

Portland General Electric (NYSE:POR) announced a quarterly dividend on Friday, October 18th, RTT News reports. Stockholders of record on Tuesday, December 24th will be given a dividend of 0.50 per share by the utilities provider on Wednesday, January 15th. This represents a $2.00 annualized dividend and a dividend yield of 4.13%.

Portland General Electric has increased its dividend by an average of 5.8% per year over the last three years and has raised its dividend every year for the last 19 years. Portland General Electric has a payout ratio of 61.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Portland General Electric to earn $3.20 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 62.5%.

Portland General Electric Stock Up 0.3 %

NYSE POR opened at $48.40 on Friday. The stock’s 50 day simple moving average is $47.57 and its 200 day simple moving average is $45.17. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.00 and a quick ratio of 0.86. Portland General Electric has a one year low of $39.13 and a one year high of $49.45. The firm has a market cap of $4.99 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 1.34 and a beta of 0.59.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $758.00 million during the quarter, compared to analyst estimates of $716.43 million. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. As a group, sell-side analysts forecast that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Barclays downgraded Portland General Electric from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $48.00 to $49.00 in a report on Wednesday, September 18th. Evercore ISI started coverage on Portland General Electric in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price for the company. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Jefferies Financial Group initiated coverage on Portland General Electric in a research report on Friday, September 20th. They issued a “hold” rating and a $48.00 price objective for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Portland General Electric currently has a consensus rating of “Hold” and an average price target of $47.00.

Insider Buying and Selling at Portland General Electric

In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the transaction, the senior vice president now directly owns 14,263 shares in the company, valued at approximately $688,902.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total transaction of $120,750.00. Following the transaction, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at $688,902.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Benjamin Felton sold 1,886 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total transaction of $90,528.00. Following the completion of the transaction, the chief operating officer now directly owns 30,142 shares of the company’s stock, valued at $1,446,816. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,486 shares of company stock valued at $262,153. 0.54% of the stock is currently owned by company insiders.

About Portland General Electric

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.