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 six thermal plants; seven hydroelectric plants; and three wind farms. As of December 31, 2020, it owned an electric transmission system consisting of 1,269 circuit miles, including 287 circuit miles of 500 kilovolt line, 414 circuit miles of 230 kilovolt line, and 568 miles of 115 kilovolt line. The company has 27,939 circuit miles of distribution lines. It also purchases and sells wholesale natural gas in the United States and Canada. The company serves approximately 908 thousand residential, commercial, and industrial customers in 51 cities. Portland General Electric Company was founded in 1889 and is headquartered in Portland, Oregon.
IPO Year:
Exchange: NYSE
Website: portlandgeneral.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/25/2024 | $54.00 | Outperform | Evercore ISI |
| 9/20/2024 | $48.00 | Hold | Jefferies |
| 9/18/2024 | $48.00 → $49.00 | Overweight → Equal Weight | Barclays |
| 9/12/2024 | $47.00 | Underperform | BofA Securities |
| 7/22/2024 | Sector Weight → Overweight | KeyBanc Capital Markets | |
| 2/5/2024 | $55.00 → $43.00 | Buy → Neutral | BofA Securities |
| 1/29/2024 | $47.00 → $45.00 | Neutral → Buy | UBS |
| 12/11/2023 | $44.00 → $47.00 | Equal Weight → Overweight | Barclays |
| 11/9/2023 | $43.00 | Buy | Ladenburg Thalmann |
| 8/23/2023 | $43.00 | Equal Weight | Barclays |
Evercore ISI initiated coverage of Portland Gen Elec with a rating of Outperform and set a new price target of $54.00
Jefferies initiated coverage of Portland Gen Elec with a rating of Hold and set a new price target of $48.00
Barclays downgraded Portland Gen Elec from Overweight to Equal Weight and set a new price target of $49.00 from $48.00 previously
BofA Securities resumed coverage of Portland Gen Elec with a rating of Underperform and set a new price target of $47.00
KeyBanc Capital Markets upgraded Portland Gen Elec from Sector Weight to Overweight
BofA Securities downgraded Portland Gen Elec from Buy to Neutral and set a new price target of $43.00 from $55.00 previously
UBS upgraded Portland Gen Elec from Neutral to Buy and set a new price target of $45.00 from $47.00 previously
Barclays upgraded Portland Gen Elec from Equal Weight to Overweight and set a new price target of $47.00 from $44.00 previously
Ladenburg Thalmann initiated coverage of Portland Gen Elec with a rating of Buy and set a new price target of $43.00
Barclays initiated coverage of Portland Gen Elec with a rating of Equal Weight and set a new price target of $43.00
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Third quarter results reflect improved power cost conditions and continued robust demand growth from high-tech and data center customersNarrowing 2024 adjusted earnings guidance from $2.98 to $3.18 to a revised range of between $3.08 and $3.18 per diluted share to reflect year-to-date performancePORTLAND, Ore., Oct. 25, 2024 /PRNewswire/ -- Portland General Electric Company (NYSE:POR) today reported net income based on generally accepted accounting principles (GAAP) of $94 million, or $0.90 per diluted share, for the third quarter of 2024. This compares with GAAP net income of $47 million, or $0.46 per diluted share, for the third quarter of 2023. "Our focus on operational excellence, as we
PORTLAND, Ore., Oct. 18, 2024 /PRNewswire/ -- On October 18, 2024, the board of directors of Portland General Electric Company (NYSE: POR) declared a quarterly common stock dividend of $0.50 per share. The company's dividend is evaluated based on capital requirements and financial performance. PGE targets a dividend payout ratio of 60 to 70% over the long term. The quarterly dividend is payable on or before January 15, 2025, to shareholders of record at the close of business on December 24, 2024. About Portland General Electric CompanyPortland General Electric (NYSE:POR) is an integrated energy company that generates, transmits and distributes electricity to over 930,000 customers with a se
PORTLAND, Ore., Sept. 25, 2024 /PRNewswire/ -- Portland General Electric Company (NYSE:POR) announced today that it will host an analyst conference call and webcast at 11 a.m. ET on Friday, October 25, to review its third quarter 2024 financial results. Portland General Electric plans to release its third quarter 2024 earnings summary before financial markets open in the United States on October 25. The conference call will be hosted by Maria Pope, President and CEO; Joe Trpik, Senior Vice President of Finance and CFO; and Nick White, Manager of Investor Relations. To hear the conference call by webcast, log on to Portland General Electric's investor website at investors.portlandgeneral.co
Second quarter results reflect continued focus on execution and cost management, semiconductor manufacturing and data center demand growth, and solid power cost performanceReaffirming 2024 adjusted earnings guidance of $2.98 to $3.18 per diluted share PORTLAND, Ore., July 26, 2024 /PRNewswire/ -- Portland General Electric Company (NYSE:POR) today reported net income based on generally accepted accounting principles (GAAP) of $72 million, or $0.69 per diluted share, for the second quarter of 2024. This compares with GAAP net income of $39 million, or $0.39 per diluted share, for the second quarter of 2023, which included the $0.05 per diluted share impact from the Boardman revenue requirement
PORTLAND, Ore., July 19, 2024 /PRNewswire/ -- On July 19, 2024, the board of directors of Portland General Electric Company (NYSE: POR) declared a quarterly common stock dividend of $0.50 per share. The company's dividend is evaluated based on capital requirements and financial performance. PGE targets a dividend payout ratio of 60 to 70% over the long term. The quarterly dividend is payable on or before October 15, 2024, to shareholders of record at the close of business on September 24, 2024. About Portland General Electric CompanyPortland General Electric (NYSE:POR) is an integrated energy company that generates, transmits and distributes electricity to over 930,000 customers with a serv
PORTLAND, Ore., June 26, 2024 /PRNewswire/ -- Portland General Electric Company (NYSE:POR) announced today that it will host an analyst conference call and webcast at 11 a.m. ET on Friday, July 26, to review its second quarter 2024 financial results. Portland General Electric plans to release its second quarter 2024 earnings summary before financial markets open in the United States on July 26. The conference call will be hosted by Maria Pope, President and CEO; Joe Trpik, Senior Vice President of Finance and CFO; and Nick White, Manager of Investor Relations. To hear the conference call by webcast, log on to Portland General Electric's investor website at investors.portlandgeneral.com, se
First quarter results reflect continued strong semiconductor and data center demand growthClearwater Wind Development placed into service in January, providing geographic resource diversity and 311 MW of clean energy generation to customersReaffirming 2024 adjusted earnings guidance of $2.98 to $3.18 per diluted sharePORTLAND, Ore., April 26, 2024 /PRNewswire/ -- Portland General Electric Company (NYSE:POR) today reported net income based on generally accepted accounting principles (GAAP) of $109 million, or $1.08 per diluted share, for the first quarter of 2024. After adjusting for the impact of the January 2024 storm, first quarter 2024 non-GAAP net income was $123 million, or $1.21 per di
PORTLAND, Ore., April 19, 2024 /PRNewswire/ -- On April 19, 2024, the board of directors of Portland General Electric Company (NYSE:POR) declared a quarterly common stock dividend of $0.50 per share, representing an increase of 5.3%, or $0.10 per share, on an annualized basis. The company's dividend is evaluated based on capital requirements and financial performance. PGE targets a dividend payout ratio of 60 to 70% over the long term. The quarterly dividend is payable on or before July 15, 2024, to shareholders of record at the close of business on June 24, 2024. About Portland General Electric CompanyPortland General Electric (NYSE:POR) is an integrated energy company that generates, tran
PORTLAND, Ore., March 26, 2024 /PRNewswire/ -- Portland General Electric Company (NYSE:POR) announced today that it will host an analyst conference call and webcast at 11 a.m. ET on Friday, April 26, to review its first quarter 2024 financial results. Portland General Electric plans to release its first quarter 2024 earnings summary before financial markets open in the United States on April 26. The conference call will be hosted by Maria Pope, President and CEO; Joe Trpik, Senior Vice President of Finance and CFO; and Nick White, Manager of Investor Relations. To hear the conference call by webcast, log on to Portland General Electric's investor website at investors.portlandgeneral.com, s
Full-year 2023 GAAP basis financial results of $2.33 per diluted share; full-year 2023 non-GAAP basis adjusted financial results of $2.38 per diluted shareInitiating 2024 adjusted earnings guidance of $2.98 to $3.18 per diluted share and reaffirming 5% to 7% long-term earnings per share growth using 2022 non-GAAP adjusted base yearPORTLAND, Ore., Feb. 16, 2024 /PRNewswire/ -- Portland General Electric Company (NYSE:POR) today reported net income based on generally accepted accounting principles (GAAP) of $228 million, or $2.33 per diluted share, for the year ended December 31, 2023, which includes the $0.05 per diluted share Boardman revenue requirement settlement charge resulting from the O
8-K - PORTLAND GENERAL ELECTRIC CO /OR/ (0000784977) (Filer)
8-K - PORTLAND GENERAL ELECTRIC CO /OR/ (0000784977) (Filer)
10-Q - PORTLAND GENERAL ELECTRIC CO /OR/ (0000784977) (Filer)
8-K - PORTLAND GENERAL ELECTRIC CO /OR/ (0000784977) (Filer)
8-K - PORTLAND GENERAL ELECTRIC CO /OR/ (0000784977) (Filer)
8-K - PORTLAND GENERAL ELECTRIC CO /OR/ (0000784977) (Filer)
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8-K - PORTLAND GENERAL ELECTRIC CO /OR/ (0000784977) (Filer)
The Clearwater Wind Energy Center helped PGE generate more than one gigawatt of powerfrom wind sources alone for the first time in company history PORTLAND, Ore., Nov. 13, 2024 /PRNewswire/ -- In its first ten months serving PGE customers, the Clearwater Wind Energy Center contributed to new records for PGE wind generation, including helping the company produce one gigawatt of power from wind sources alone – a new milestone. One gigawatt (or 1,000 megawatts) is enough electricity to power the equivalent of 830,000 homes, or about half the number of homes in Oregon. The Clearwa
Third quarter results reflect improved power cost conditions and continued robust demand growth from high-tech and data center customersNarrowing 2024 adjusted earnings guidance from $2.98 to $3.18 to a revised range of between $3.08 and $3.18 per diluted share to reflect year-to-date performancePORTLAND, Ore., Oct. 25, 2024 /PRNewswire/ -- Portland General Electric Company (NYSE:POR) today reported net income based on generally accepted accounting principles (GAAP) of $94 million, or $0.90 per diluted share, for the third quarter of 2024. This compares with GAAP net income of $47 million, or $0.46 per diluted share, for the third quarter of 2023. "Our focus on operational excellence, as we
PORTLAND, Ore., Oct. 18, 2024 /PRNewswire/ -- On October 18, 2024, the board of directors of Portland General Electric Company (NYSE: POR) declared a quarterly common stock dividend of $0.50 per share. The company's dividend is evaluated based on capital requirements and financial performance. PGE targets a dividend payout ratio of 60 to 70% over the long term. The quarterly dividend is payable on or before January 15, 2025, to shareholders of record at the close of business on December 24, 2024. About Portland General Electric CompanyPortland General Electric (NYSE:POR) is an integrated energy company that generates, transmits and distributes electricity to over 930,000 customers with a se
PORTLAND, Ore., Sept. 25, 2024 /PRNewswire/ -- Portland General Electric Company (NYSE:POR) announced today that it will host an analyst conference call and webcast at 11 a.m. ET on Friday, October 25, to review its third quarter 2024 financial results. Portland General Electric plans to release its third quarter 2024 earnings summary before financial markets open in the United States on October 25. The conference call will be hosted by Maria Pope, President and CEO; Joe Trpik, Senior Vice President of Finance and CFO; and Nick White, Manager of Investor Relations. To hear the conference call by webcast, log on to Portland General Electric's investor website at investors.portlandgeneral.co
Second quarter results reflect continued focus on execution and cost management, semiconductor manufacturing and data center demand growth, and solid power cost performanceReaffirming 2024 adjusted earnings guidance of $2.98 to $3.18 per diluted share PORTLAND, Ore., July 26, 2024 /PRNewswire/ -- Portland General Electric Company (NYSE:POR) today reported net income based on generally accepted accounting principles (GAAP) of $72 million, or $0.69 per diluted share, for the second quarter of 2024. This compares with GAAP net income of $39 million, or $0.39 per diluted share, for the second quarter of 2023, which included the $0.05 per diluted share impact from the Boardman revenue requirement
PORTLAND, Ore., July 19, 2024 /PRNewswire/ -- On July 19, 2024, the board of directors of Portland General Electric Company (NYSE: POR) declared a quarterly common stock dividend of $0.50 per share. The company's dividend is evaluated based on capital requirements and financial performance. PGE targets a dividend payout ratio of 60 to 70% over the long term. The quarterly dividend is payable on or before October 15, 2024, to shareholders of record at the close of business on September 24, 2024. About Portland General Electric CompanyPortland General Electric (NYSE:POR) is an integrated energy company that generates, transmits and distributes electricity to over 930,000 customers with a serv
PORTLAND, Ore., June 26, 2024 /PRNewswire/ -- Portland General Electric Company (NYSE:POR) announced today that it will host an analyst conference call and webcast at 11 a.m. ET on Friday, July 26, to review its second quarter 2024 financial results. Portland General Electric plans to release its second quarter 2024 earnings summary before financial markets open in the United States on July 26. The conference call will be hosted by Maria Pope, President and CEO; Joe Trpik, Senior Vice President of Finance and CFO; and Nick White, Manager of Investor Relations. To hear the conference call by webcast, log on to Portland General Electric's investor website at investors.portlandgeneral.com, se
The North Plains Connector transmission line will more than double the transfer capacity between the eastern and western U.S. electric grids, providing PGE access to new, diverse resources and bolstering reliability for customers. PORTLAND, Ore., May 28, 2024 /PRNewswire/ -- Portland General Electric (NYSE: POR) today signed a non-binding memorandum of understanding with Grid United and ALLETE, Inc. (NYSE:ALE) in the development of the North Plains Connector, an approximately 415-mile high-voltage direct-current (HVDC) transmission line to be constructed with endpoints near Bismarck, North Dakota and Colstrip, Montana. The parties will now work to finalize definitive agreements regarding PG
First quarter results reflect continued strong semiconductor and data center demand growthClearwater Wind Development placed into service in January, providing geographic resource diversity and 311 MW of clean energy generation to customersReaffirming 2024 adjusted earnings guidance of $2.98 to $3.18 per diluted sharePORTLAND, Ore., April 26, 2024 /PRNewswire/ -- Portland General Electric Company (NYSE:POR) today reported net income based on generally accepted accounting principles (GAAP) of $109 million, or $1.08 per diluted share, for the first quarter of 2024. After adjusting for the impact of the January 2024 storm, first quarter 2024 non-GAAP net income was $123 million, or $1.21 per di
PORTLAND, Ore., April 19, 2024 /PRNewswire/ -- On April 19, 2024, the board of directors of Portland General Electric Company (NYSE:POR) declared a quarterly common stock dividend of $0.50 per share, representing an increase of 5.3%, or $0.10 per share, on an annualized basis. The company's dividend is evaluated based on capital requirements and financial performance. PGE targets a dividend payout ratio of 60 to 70% over the long term. The quarterly dividend is payable on or before July 15, 2024, to shareholders of record at the close of business on June 24, 2024. About Portland General Electric CompanyPortland General Electric (NYSE:POR) is an integrated energy company that generates, tran
KeyBanc Capital Markets analysts upgraded Portland General Electric Company (NYSE:POR) to Overweight from Sector Weight, with a $52 price target. The analysts write that the company is seeing strong power demand growth due to high-tech and semiconductor industries. The region is also appealing for data centers, especially those needing low latency, thanks to cross-Pacific subsea cables, adds the analysts. The analysts say that with industrial customers, who make up about 30% of the total load and are growing at 7.5%, POR’s overall load growth is robust. The analysts write that recent updates to POR’s power cost recovery mechanism have improved earnings by reducing exposure to v
Barclays analyst Nicholas Campanella maintains Portland Gen Electric (NYSE:POR) with a Overweight and raises the price target from $44 to $48.
Keybanc analyst Sophie Karp upgrades Portland Gen Electric (NYSE:POR) from Sector Weight to Overweight.
https://www.axios.com/pro/climate-deals/2024/05/28/portland-utility-commits-stake-grid-united-transmission
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Stifel cut the price target for Spire Global, Inc. (NYSE:SPIR) from $24 to $20. Stifel analyst Erik Rasmussen maintained a Buy rating. Spire Global shares fell 6.8% to close at $11.34 on Wednesday. See how other analysts view this stock. Oppenheimer boosted the price target for Analog Devices, Inc. (NASDAQ:ADI) from $215 to $245. Oppenheimer analyst Rick Schafer maintained an Outperform rating. Analog Devices shares rose 1.8% to close at $215.75 on Wednesday. See how other analysts view this stock.
Mizuho analyst Anthony Crowdell maintains Portland Gen Electric (NYSE:POR) with a Neutral and raises the price target from $42 to $45.
2024 Earnings Guidance PGE is reaffirming its estimate for full-year 2024 adjusted earnings guidance of $2.98 to $3.18 per diluted share based on the following assumptions: Exclusion of the impacts of the January 2024 winter storm, including non-deferrable Reliability Contingency Event (RCE) costs and non-deferred incremental storm restoration costs; An increase in energy deliveries of 2% to 3%, weather adjusted; Normal temperatures in its utility service territory; Hydro conditions for the year that reflect current estimates; Wind generation based on five years of historical levels or forecast studies when historical data is not available; Normal thermal plant operations; Operatin
Portland Gen Electric (NYSE:POR) reported quarterly earnings of $1.21 per share which beat the analyst consensus estimate of $1.09 by 11.01 percent. This is a 51.25 percent increase over earnings of $0.80 per share from the same period last year. The company reported quarterly sales of $940.000 million which beat the analyst consensus estimate of $828.972 million by 13.39 percent. This is a 26.17 percent increase over sales of $745.000 million the same period last year.
The quarterly dividend is payable on or before July 15, 2024, to shareholders of record at the close of business on June 24, 2024.
Participation in California Independent System Operator (CAISO) Extended Day-Ahead Market (EDAM) to enhance affordability, reliability and access to clean power. PORTLAND, Ore., March 21, 2024 /PRNewswire/ -- Portland General Electric (NYSE:POR) announced plans to join the California Independent System Operator's (CAISO) Extended Day-Ahead Market (EDAM) to help provide Portland General Electric (PGE) and the customers it serves with access to more affordable, reliable and clean energy. "Joining the CAISO Extended Day-Ahead Market is a significant next step toward an integrated regional system that will deliver cost savings and enhanced reliability for PGE customers," said Maria Pope, PGE
Experienced energy executive brings over two decades of financial expertise PORTLAND, Ore., June 15, 2023 /PRNewswire/ -- Portland General Electric (PGE) (NYSE:POR) today announced the appointment of Joseph (Joe) Trpik as chief financial officer and senior vice president, effective June 30, 2023. Trpik will succeed PGE's CFO, Jim Ajello, who previously announced plans to retire and will serve as a senior advisor through August 31, 2023. "We are pleased to welcome Joe to PGE," said Maria Pope, president and CEO. "At a time when the energy industry is becoming more complex, Joe's deep industry and financial expertise will be invaluable as we invest for growth, manage costs and deliver safe, r
Energy executive brings deep industry knowledge, strong leadership and proven operating expertise to PGE's commitment to delivering safe, reliable and affordable clean energy. PORTLAND, Ore., March 20, 2023 /PRNewswire/ -- Portland General Electric (PGE) (NYSE:POR) announced the appointment of Benjamin (Ben) Felton as the company's new Chief Operating Officer, effective April 3, 2023. In his role, Felton will lead the utility operations groups, including generation, distribution, engineering, project management, environmental, construction, safety and other operations-focused areas. "We are pleased to welcome Ben to PGE," said Maria Pope, president and CEO. "Ben brings a wealth of experience
The communications industry veteran brings years of experience to NWS Network Wireless Solutions, LLC ("NWS"), a rapidly growing solutions and logistics provider to carriers and telecommunications contractors, announced today the appointment of Michael Millegan to its board. NWS is a portfolio company of Grain Management, LLC ("Grain"), a leading Washington, D.C.-based investment firm focused on the global communications sector. Mr. Millegan is a seasoned technology executive with several years of experience leading company strategy, including sales, marketing, supply chain operations, cell site build-out, and engineering. Currently, Mr. Millegan serves as an independent board director fo
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