Portland General Electric (NYSE:POR) Declares Quarterly Dividend of $0.53

Portland General Electric (NYSE:POR - Get Free Report) declared a quarterly dividend on Monday, April 21st, Wall Street Journal reports. Stockholders of record on Tuesday, June 24th will be given a dividend of 0.525 per share by the utilities provider on Tuesday, July 15th. This represents a $2.10 annualized dividend and a dividend yield of 5.06%. The ex-dividend date of this dividend is Tuesday, June 24th. This is a 5.0% increase from Portland General Electric's previous quarterly dividend of $0.50.

Portland General Electric has raised its dividend payment by an average of 5.2% per year over the last three years. Portland General Electric has a payout ratio of 62.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Portland General Electric to earn $3.34 per share next year, which means the company should continue to be able to cover its $2.10 annual dividend with an expected future payout ratio of 62.9%.

Portland General Electric Trading Down 3.4 %

NYSE:POR traded down $1.48 during trading hours on Friday, hitting $41.50. The company had a trading volume of 521,662 shares, compared to its average volume of 1,175,965. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The stock has a 50-day moving average price of $43.62 and a 200 day moving average price of $44.37. The company has a market capitalization of $4.54 billion, a PE ratio of 13.85, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49. Portland General Electric has a 52 week low of $40.05 and a 52 week high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last announced its earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $1.12 by ($0.21). Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. During the same quarter in the prior year, the business posted $1.21 EPS. On average, equities research analysts predict that Portland General Electric will post 3.21 EPS for the current fiscal year.

Insider Activity at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the sale, the chief financial officer now owns 31,960 shares in the company, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Benjamin Felton sold 1,845 shares of the business's stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total transaction of $79,371.90. Following the completion of the transaction, the executive vice president now directly owns 32,646 shares in the company, valued at $1,404,430.92. This trade represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,795 shares of company stock worth $159,946. Corporate insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on POR. LADENBURG THALM/SH SH cut Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research report on Tuesday, February 18th. Jefferies Financial Group lowered their price target on Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a research report on Tuesday, January 28th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $44.00 price target (down previously from $50.00) on shares of Portland General Electric in a research note on Thursday, April 10th. UBS Group restated a "neutral" rating and set a $47.00 price objective (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Finally, StockNews.com cut shares of Portland General Electric from a "hold" rating to a "sell" rating in a report on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $45.89.

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.