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

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 paid a dividend of 0.50 per share by the utilities provider on Tuesday, April 15th. This represents a $2.00 annualized dividend and a dividend yield of 4.75%. The ex-dividend date is Monday, March 24th.

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 dividend payout ratio of 59.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 0.6 %

Shares of POR opened at $42.10 on Friday. Portland General Electric has a 52-week low of $39.49 and a 52-week high of $49.85. The business’s fifty day moving average is $42.76 and its 200-day moving average is $45.80. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.05 and a beta of 0.61.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on POR shares. JPMorgan Chase & Co. lifted their price target on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. 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 reduced their price objective on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Bank of America reduced their price objective on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research report on Tuesday, December 24th. Finally, UBS Group restated a “neutral” rating and set a $47.00 price objective (down previously from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. 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.com, the company has a consensus 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.