Portland General Electric (NYSE:POR) declared a quarterly dividend on Wednesday, February 12th, RTT News reports. Shareholders of record on Wednesday, March 25th will be given a dividend of 0.385 per share by the utilities provider on Wednesday, April 15th. This represents a $1.54 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Tuesday, March 24th.
Portland General Electric has increased its dividend by an average of 4.8% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Portland General Electric has a payout ratio of 59.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Portland General Electric to earn $2.59 per share next year, which means the company should continue to be able to cover its $1.54 annual dividend with an expected future payout ratio of 59.5%.
NYSE:POR opened at $62.34 on Friday. Portland General Electric has a twelve month low of $48.34 and a twelve month high of $62.34. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 0.96. The business has a 50 day moving average price of $58.44 and a two-hundred day moving average price of $56.58. The company has a market cap of $5.45 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 4.80 and a beta of 0.13.
A number of equities analysts have weighed in on the company. Sidoti upped their price target on Portland General Electric from $57.00 to $61.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Zacks Investment Research downgraded Portland General Electric from a “buy” rating to a “hold” rating in a report on Tuesday, January 21st. Guggenheim downgraded Portland General Electric from a “neutral” rating to a “sell” rating in a report on Tuesday, January 7th. Bank of America raised Portland General Electric from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a report on Tuesday, January 7th. Finally, KeyCorp began coverage on Portland General Electric in a report on Monday, January 27th. They set a “sector weight” rating for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $60.50.
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. The company operates seven thermal plants; seven hydroelectric plants; and two wind farms. As of December 31, 2018, it owned an electric transmission system consisting of 1,256 circuit miles, including 287 circuit miles of 500 kilovolt line, 410 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.
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