Portland General Electric Declares Quarterly Dividend of $0.50
Portland General Electric (NYSE:POR) has announced a quarterly dividend of $0.50 per share, as reported on February 12th. Shareholders who are on record by March 24th will receive this dividend on April 15th. This dividend amounts to an annual total of $2.00, offering a yield of 4.79%.
Over the past three years, Portland General Electric has averaged an annual dividend increase of 5.2%. The company's current payout ratio stands at 59.7%, signifying that its dividend payments are well-supported by its earnings. Analysts forecast Portland General Electric to earn $3.21 per share in the coming year. This indicates that the firm should continue to comfortably cover its annual dividend based on an anticipated payout ratio of 62.3%.
Stock Performance Overview
On the trading day following the announcement, shares of POR fell by $0.14, reaching a price of $41.78. The trading volume was 930,484 shares, a figure close to its average volume of 1,133,810 shares. Over the past year, the stock has experienced a low of $39.42 and a high of $49.85. Currently, its 50-day moving average is recorded at $42.86, while the 200-day moving average sits at $45.83. In terms of financial metrics, 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's market capitalization is approximately $4.41 billion, with a price-to-earnings (P/E) ratio of 12.47 and a P/E/G ratio of 1.05, alongside a beta value of 0.61.
Analyst Price Target Adjustments
Recent analyses from research firms regarding POR have led to several adjustments in price targets. KeyCorp revised its price target from $52.00 to $51.00, rating Portland General Electric as "overweight" in their report dated December 4th. UBS Group maintained a "neutral" rating but adjusted their price target to $47.00, down from $52.00, in a report released on January 3rd. Additionally, Barclays decreased its price target from $48.00 to $42.00, assigning an "equal weight" rating in their report on January 27th. Jefferies Financial Group followed suit with a drop in their price objective from $47.00 to $42.00, giving the stock a