Portland General Electric Announces Quarterly Dividend

Portland General Electric (NYSE:POR) announced on February 12th that it will issue a quarterly dividend of $0.50 per share. Shareholders who are on record as of March 24th will receive this payment on April 15th. This quarterly dividend translates into an annual dividend of $2.00 and reflects a yield of 4.79%.

The company has shown a commitment to increasing its dividends, averaging a growth rate of 5.2% over the past three years. With a payout ratio of 59.7%, Portland General Electric’s dividend appears to be well supported by its earnings. Analysts predict that the company will earn $3.21 per share next year, suggesting that it can sustain its $2.00 annual dividend while maintaining a future payout ratio of 62.3%.

Stock Performance Overview

On the day the dividend announcement was made, shares of Portland General Electric traded down by $0.14, reaching $41.78. A total of 930,484 shares changed hands, which is below its average trading volume of 1,133,810. Over the past year, the stock has fluctuated between a low of $39.42 and a high of $49.85. The company’s 50-day moving average stands at $42.86, while the 200-day moving average is $45.83. Portland General Electric has a current ratio of 0.98, a quick ratio of 0.86, and a debt-to-equity ratio of 1.28; it holds a market capitalization of $4.41 billion. The stock has a price-to-earnings (P/E) ratio of 12.47 and a P/E to growth (P/E/G) ratio of 1.05.

Analyst Ratings and Insights

Portland General Electric has been receiving attention from various analysts. For instance, KeyCorp downgraded its price target from $52.00 to $51.00 while maintaining an "overweight" rating on December 4th. Similarly, UBS Group revised its price objective down to $47.00 from $52.00, reaffirming a "neutral" stance on January 3rd. Barclays and Jefferies Financial Group also lowered their predictions to $42.00, with Barclays maintaining an "equal weight" rating. In contrast, JPMorgan Chase raised expectations for Portland General Electric from $54.00 to $55.00 and issued an "overweight" rating in October of the previous year. Overall, the consensus from analysts presents one sell rating, five holds, and three buy ratings, leading to an average rating of "Hold" and a mean price target of $47.38.

Company Profile

Portland General Electric Company is an integrated electric utility based in Oregon. It specializes in generating, purchasing, transmitting, distributing, and selling electricity. The company operates several facilities, including six thermal plants, three wind farms, and seven hydroelectric stations. As of the end of 2023, it provided electricity to 934,000 retail customers across 51 cities, supported by an extensive transmission network of 1,254 circuit miles.

dividend, electricity, investors