If you’re searching for reliable income at a reasonable price, look no further than Portland General Electric (NYSE: POR).
Shares of the Pacific Northwest utility business are currently trading in the low $50s, but the stock offers a strong dividend and steady growth
Even better, its valuation is quite reasonable at a time when many utilities and energy stocks are becoming more expensive. Portland General Electric’s quarterly dividend currently pays $0.55 per share. This amounts to a yield that is slightly above 4%.
That’s higher than the broader market average and competitive within the utility sector. Meanwhile, the company’s forward price-to-earnings (P/E) ratio of about 14 is below the sector average of roughly 23. Portland General Electric rewards shareholders with dividends, but the company also balances payouts with strategic capital reinvestments.