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

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 dividend yield of 4.13%.

Portland General Electric has increased its dividend payment by an average of 5.8% annually over the last three years and has increased its dividend annually for the last 19 consecutive years. Portland General Electric has a payout ratio of 61.9% meaning 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 Performance

Shares of Portland General Electric stock traded up $0.14 on Friday, hitting $48.40. The stock had a trading volume of 647,657 shares, compared to its average volume of 948,154. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 1.34 and a beta of 0.59. The business’s 50 day moving average is $47.53 and its two-hundred day moving average is $45.13. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 1.33. Portland General Electric has a twelve month low of $39.13 and a twelve month high of $49.45.

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

Analyst Ratings Changes

POR has been the subject of a number of analyst reports. Bank of America started 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 target on the stock. Evercore ISI assumed coverage on Portland General Electric in a research note on Wednesday, September 25th. They set an “outperform” rating and a $54.00 target price for the company. Jefferies Financial Group began coverage on Portland General Electric in a research note on Friday, September 20th. They issued a “hold” rating and a $48.00 price target on the stock. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Barclays downgraded shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $48.00 to $49.00 in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $47.00.

Insider Transactions at Portland General Electric

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the transaction, the senior vice president now owns 14,263 shares in the company, valued at approximately $688,902.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction dated 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 in the company, valued at $688,902.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John Teeruk Kochavatr sold 1,100 shares of the company’s stock in a transaction that occurred 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 owns 22,606 shares in the company, valued at $1,045,527.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,486 shares of company stock worth $262,153 in the last ninety days. Company insiders own 0.54% of the company’s stock.

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.