Portland General Electric (NYSE:POR) declared a quarterly dividend on Wednesday, February 12th, RTT News reports. Investors of record on Wednesday, March 25th will be paid a dividend of 0.385 per share by the utilities provider on Wednesday, April 15th. This represents a $1.54 dividend on an annualized basis and a yield of 2.53%.
Portland General Electric has increased its dividend payment by an average of 4.8% per year over the last three years and has increased its dividend every year for the last 14 years. Portland General Electric has a dividend payout ratio of 59.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Portland General Electric to earn $2.59 per share next year, which means the company should continue to be able to cover its $1.54 annual dividend with an expected future payout ratio of 59.5%.
Shares of POR opened at $60.98 on Thursday. The firm has a market cap of $5.45 billion, a PE ratio of 26.98, a P/E/G ratio of 4.80 and a beta of 0.13. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 0.96. The firm has a fifty day simple moving average of $58.30 and a two-hundred day simple moving average of $56.55. Portland General Electric has a 1-year low of $48.34 and a 1-year high of $61.83.
A number of brokerages have weighed in on POR. Sidoti boosted their target price on shares of Portland General Electric from $57.00 to $61.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Bank of America upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Tuesday, January 7th. Zacks Investment Research lowered shares of Portland General Electric from a “buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Guggenheim lowered shares of Portland General Electric from a “neutral” rating to a “sell” rating in a research note on Tuesday, January 7th. Finally, KeyCorp started coverage on shares of Portland General Electric in a research note on Monday, January 27th. They set a “sector weight” rating for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $60.50.
In related news, VP William O. Nicholson sold 3,000 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $55.26, for a total value of $165,780.00. Following the completion of the transaction, the vice president now owns 1,653 shares of the company’s stock, valued at approximately $91,344.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.39% 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. The company operates seven thermal plants; seven hydroelectric plants; and two wind farms. As of December 31, 2018, it owned an electric transmission system consisting of 1,256 circuit miles, including 287 circuit miles of 500 kilovolt line, 410 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.
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