Portland General Electric (POR) To Go Ex-Dividend on September 24th

Portland General Electric (NYSE:POR) declared a quarterly dividend on Friday, July 19th, RTT News reports. Investors of record on Tuesday, September 24th will be given 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 raised its dividend by an average of 5.8% annually over the last three years and has raised its dividend every year for the last 19 years. Portland General Electric has a payout ratio of 61.7% indicating that 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 Stock Performance

POR opened at $47.70 on Friday. 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 company has a market cap of $4.91 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.38 and a beta of 0.59. The company’s 50 day moving average is $47.37 and its 200 day moving average is $44.35. Portland General Electric has a 12-month low of $38.01 and a 12-month high of $49.45.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Portland General Electric in a report on Friday. They set a “hold” rating and a $48.00 price target on the stock. Barclays downgraded shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $48.00 to $49.00 in a report on Wednesday. KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd. StockNews.com downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Finally, Bank of America started coverage on shares of Portland General Electric in a report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, 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 related news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s 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 sale, the senior vice president now owns 14,263 shares in the company, valued at $688,902.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Benjamin Felton sold 1,886 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total value of $90,528.00. Following the sale, the chief operating officer now owns 30,142 shares in the company, valued at $1,446,816. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the sale, the senior vice president now owns 14,263 shares in the company, valued at approximately $688,902.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,486 shares of company stock valued at $262,153. 0.54% of the stock is currently owned by corporate insiders.

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.