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

Portland General Electric (NYSE:POR) announced a quarterly dividend on Friday, July 19th, RTT News reports. Shareholders of record on Tuesday, September 24th will be paid a dividend of 0.50 per share by the utilities provider on Tuesday, October 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Tuesday, September 24th.

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 dividend payout ratio of 61.7% meaning 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 Down 0.4 %

NYSE POR opened at $47.70 on Monday. The company has a market capitalization of $4.91 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 1.38 and a beta of 0.59. Portland General Electric has a 1-year low of $38.01 and a 1-year high of $49.45. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The firm’s fifty day simple moving average is $47.37 and its 200-day simple moving average is $44.38.

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

Analysts Set New Price Targets

Several research firms have commented on POR. Bank of America began coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price for the company. StockNews.com lowered Portland General Electric from a “hold” rating to a “sell” rating in a report on Friday, September 6th. KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Barclays lowered shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $48.00 to $49.00 in a research report on Wednesday, September 18th. Finally, Jefferies Financial Group assumed coverage on shares of Portland General Electric in a research report on Friday. They issued a “hold” rating and a $48.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Portland General Electric currently has a consensus rating of “Hold” and a consensus target price of $45.88.

Insider Transactions at Portland General Electric

In other news, VP John Teeruk Kochavatr sold 1,100 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the sale, the vice president now owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP John Teeruk Kochavatr sold 1,100 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was 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 approximately $1,045,527.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $120,750.00. Following the completion of the transaction, the senior vice president now owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,486 shares of company stock valued at $262,153. Corporate insiders own 0.54% of the company’s stock.

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.