Portland General Electric: (NYSE: POR – Get Rating) announced a quarterly dividend on Friday, April 22nd, RTT News reports. Shareholders of record on Monday, June 27th will be given a dividend of 0.4525 per share by the utilities provider on Friday, July 15th. This represents a $ 1.81 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Friday, June 24th. This is a positive change from Portland General Electric’s previous quarterly dividend of $ 0.43.
Portland General Electric has raised its dividend payment by an average of 5.9% annually over the last three years and has raised its dividend annually for the last 17 consecutive years. Portland General Electric has a dividend payout ratio of 63.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Portland General Electric to earn $ 2.87 per share next year, which means the company should continue to be able to cover its $ 1.81 annual dividend with an expected future payout ratio of 63.1%.
POR opened at $ 46.03 on Thursday. The stock has a market capitalization of $ 4.11 billion, a PE ratio of 19.84, a P / E / G ratio of 4.05 and a beta of 0.53. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.86 and a current ratio of 0.94. Portland General Electric has a one year low of $ 45.02 and a one year high of $ 57.03. The business’s 50 day moving average price is $ 49.08 and its 200 day moving average price is $ 51.41.
Portland General Electric (NYSE: POR – Get Rating) last issued its earnings results on Thursday, April 28th. The utilities provider reported $ 0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $ 0.85 by ($ 0.18). Portland General Electric had a net margin of 8.62% and a return on equity of 7.74%. The company had revenue of $ 626.00 million during the quarter, compared to analysts’ expectations of $ 610.48 million. During the same period last year, the business posted $ 1.07 earnings per share. The company quarterly revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts forecast that Portland General Electric will post 2.57 earnings per share for the current fiscal year.
In related news, Director Dawn L. Farrell purchased 4,000 shares of the stock in a transaction that occurred on Thursday, May 26th. The stock was acquired at an average cost of $ 48.52 per share, with a total value of $ 194,080.00. Following the transaction, the director now owns 9,223 shares of the company stock, valued at approximately $ 447,499.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. Covestor Ltd increased its position in Portland General Electric by 359.6% in the first quarter. Covestor Ltd now owns 2,523 shares of the utilities provider’s stock worth $ 139,000 after buying an additional 1,974 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Portland General Electric in the first quarter valued at about $ 180,000. Bank of Montreal Can acquired a new stake in Portland General Electric in the first quarter worth about $ 239,000. Captrust Financial Advisors lifted its holdings in shares of Portland General Electric by 6.4% during the first quarter. Captrust Financial Advisors now owns 4,394 shares of the utilities provider’s stock worth $ 244,000 after purchasing an additional 264 shares during the period. Finally, Great West Life Assurance Co. Can raised its position in Portland General Electric by 17.8% during the first quarter. Great West Life Assurance Co. Can now owns 7,080 shares of the utilities provider’s stock valued at $ 410,000 after acquiring an additional 1,069 shares in the last quarter. 91.92% of the stock is currently owned by institutional investors and hedge funds.
POR has been the subject of a number of recent research reports. The Goldman Sachs Group raised shares of Portland General Electric from a “neutral” rating to a “buy” rating and boosted their price target for the company from $ 49.00 to $ 52.00 in a research report on Thursday, June 2nd. Barclays upgraded shares of Portland General Electric from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $ 53.00 to $ 57.00 in a research note on Tuesday, April 19th. StockNews.com started coverage on shares of Portland General Electric in a report on Thursday, March 31st. They set a “hold” rating for the company. Credit Suisse Group assumed coverage on shares of Portland General Electric in a report on Monday, April 25th. They set an “underperform” rating and a $ 55.00 price objective for the company. Finally, Mizuho reduced their price target on shares of Portland General Electric from $ 61.00 to $ 56.00 in a report on Friday, April 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $ 55.60.
About Portland General Electric: (Get Rating)
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, 2021, the company owned an electric transmission system consisting of 1,274 circuit miles, including 287 circuit miles of 500 kilovolt line, 415 circuit miles of 230 kilovolt line, and 572 miles of 115 kilovolt line.
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