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

Portland General Electric (NYSE:POR) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Shareholders 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% 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. Research 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 Stock Performance

Shares of POR stock traded down $0.14 on Wednesday, hitting $41.78. 930,484 shares of the stock were exchanged, compared to its average volume of 1,133,810. Portland General Electric has a one year low of $39.42 and a one year high of $49.85. The firm’s 50 day moving average is $42.86 and its two-hundred day moving average is $45.83. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. The firm 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.

Analysts Set New Price Targets

POR has been the subject of a number of research reports. KeyCorp dropped their price target on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. UBS Group reiterated a “neutral” rating and set a $47.00 price objective (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Barclays lowered their price target on 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. Jefferies Financial Group dropped their price objective on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. lifted their price objective on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $47.38.

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.