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

Portland General Electric (NYSE:POR) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Stockholders of record on Monday, March 24th will be paid a dividend of 0.50 per share by the utilities provider on Tuesday, April 15th. This represents a $2.00 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend is Monday, March 24th.

Portland General Electric has increased its dividend payment by an average of 5.2% per year over the last three years. Portland General Electric has a dividend payout ratio of 59.7% meaning its dividend is sufficiently covered by earnings. 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

Shares of NYSE POR opened at $42.10 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. Portland General Electric has a 12 month low of $39.49 and a 12 month high of $49.85. The stock has a 50 day moving average of $42.76 and a 200-day moving average of $45.80. The company has a market capitalization of $4.44 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.05 and a beta of 0.61.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group dropped their price target on Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. UBS Group reissued a “neutral” rating and set a $47.00 price target (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Bank of America dropped their price target on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a report on Tuesday, December 24th. Finally, Barclays dropped their price target on Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $47.38.

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.