Portland General Electric (POR) to Issue Quarterly Dividend of $0.50 on January 15th

Portland General Electric (NYSE:POR) declared a quarterly dividend on Friday, October 18th, RTT News reports. Shareholders 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 yield of 4.13%.

Portland General Electric has raised 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% indicating that its dividend is sufficiently covered by earnings. Equities 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 %

POR opened at $48.40 on Friday. The company has a market capitalization of $4.99 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 1.34 and a beta of 0.59. 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 fifty-two week low of $39.13 and a fifty-two week high of $49.45. The business has a 50-day moving average of $47.57 and a 200-day moving average of $45.19.

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

Insider Activity

In other Portland General Electric news, COO Benjamin Felton sold 1,886 shares of Portland General Electric stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total transaction of $90,528.00. Following the transaction, the chief operating officer now directly owns 30,142 shares in the company, valued at approximately $1,446,816. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP John Teeruk Kochavatr sold 1,100 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total transaction of $50,875.00. Following the sale, the vice president now directly owns 22,606 shares in the company, valued at $1,045,527.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 sale, the chief operating officer now directly owns 30,142 shares in the company, valued at $1,446,816. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,486 shares of company stock valued at $262,153 in the last quarter. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on POR. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. Bank of America assumed coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price objective for the company. Barclays downgraded Portland General Electric from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $48.00 to $49.00 in a research report on Wednesday, September 18th. 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 research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $47.00.

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.