Portland General Electric (POR) to Distribute Quarterly Dividend of $0.48 on April 15th

Portland General Electric (NYSE:PORGet Free Report) declared a quarterly dividend on Friday, February 9th, RTT News reports. Stockholders of record on Friday, March 22nd will be given a dividend of 0.475 per share by the utilities provider on Monday, April 15th. This represents a $1.90 annualized dividend and a dividend yield of 4.74%.

Portland General Electric has raised its dividend payment by an average of 5.8% per year over the last three years and has raised its dividend annually for the last 18 consecutive years. Portland General Electric has a payout ratio of 58.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Portland General Electric to earn $3.03 per share next year, which means the company should continue to be able to cover its $1.90 annual dividend with an expected future payout ratio of 62.7%.

Portland General Electric Price Performance

Portland General Electric stock opened at $40.11 on Friday. Portland General Electric has a 12-month low of $38.01 and a 12-month high of $51.58. The stock has a market cap of $4.06 billion, a P/E ratio of 18.15, a PEG ratio of 2.57 and a beta of 0.58. The company has a 50-day moving average price of $42.20 and a 200 day moving average price of $42.57. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 1.24.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in POR. IMA Wealth Inc. lifted its position in shares of Portland General Electric by 100.0% during the 2nd quarter. IMA Wealth Inc. now owns 786 shares of the utilities provider’s stock worth $37,000 after buying an additional 393 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Portland General Electric by 4,233.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,820 shares of the utilities provider’s stock worth $79,000 after buying an additional 1,778 shares during the last quarter. Benjamin Edwards Inc. lifted its position in shares of Portland General Electric by 136.2% during the 2nd quarter. Benjamin Edwards Inc. now owns 2,234 shares of the utilities provider’s stock worth $105,000 after buying an additional 1,288 shares during the last quarter. Covestor Ltd lifted its position in shares of Portland General Electric by 359.6% during the 1st quarter. Covestor Ltd now owns 2,523 shares of the utilities provider’s stock worth $139,000 after buying an additional 1,974 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Portland General Electric during the 1st quarter worth approximately $158,000.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on POR shares. Bank of America cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $55.00 to $43.00 in a research report on Monday, February 5th. Barclays cut their price objective on shares of Portland General Electric from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, January 22nd. UBS Group upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and dropped their price target for the company from $47.00 to $45.00 in a research report on Monday, January 29th. LADENBURG THALM/SH SH assumed coverage on shares of Portland General Electric in a research report on Thursday, November 9th. They set a “buy” rating and a $43.00 price target for the company. Finally, Wells Fargo & Company dropped their price target on shares of Portland General Electric from $52.00 to $45.00 and set an “equal weight” rating for the company in a research report on Friday, October 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $45.89.

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Portland General Electric Company Profile

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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, 2022, the company owned an electric transmission system consisting of 1,255 circuit miles, including 269 circuit miles of 500 kilovolt line, 413 circuit miles of 230 kilovolt line, and 573 miles of 115 kilovolt line; and served 926 thousand retail customers in 51 cities.

See Also

Dividend History for Portland General Electric (NYSE:POR)

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