Portland General Electric (NYSE:POR) Announces Earnings Results

Portland General Electric (NYSE:POR) released its quarterly earnings data on Tuesday. The utilities provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.25), FiscalAI reports. Portland General Electric had a return on equity of 8.32% and a net margin of 8.63%.During the same quarter last year, the company posted $0.36 EPS. Portland General Electric updated its FY 2026 guidance to 3.330-3.530 EPS.

Here are the key takeaways from Portland General Electric’s conference call:

• PGE agreed to acquire PacifiCorp’s Washington electric utility business for $1.9 billion, forming a joint venture where PGE will operate and Manulife will own 49%; the deal increases PGE’s portfolio by ~18% and is forecast to be accretive in the first full year while supporting long‑term EPS/dividend growth of 5%–7%.
• PGE reported 2025 GAAP EPS of $2.77 and non‑GAAP EPS of $3.05 (weather reduced earnings by ~$0.17), and provided 2026 guidance of $3.33–$3.53 while reaffirming the 5%–7% long‑term earnings and dividend growth target.
• Strong large‑customer demand is driving growth—2025 industrial load rose 14%, PGE executed five data‑center contracts totaling 430 MW with a ~1.7 GW pipeline—and PGE is advancing RFPs plus new solar+battery projects (Bigelow, Wheatridge) eligible for 30%–40% federal tax credits.
• Financing commitments and bridge financing are secured (Barclays, J.P. Morgan and Manulife) with a planned permanent mix of roughly $600M Manulife equity, $700M Washington‑utility secured debt and ~$600M at the proposed holdco; liquidity was ~$954M at year‑end, ATM upsized to $500M, and base equity need is expected at ~$300M in 2026 tapering to ~$50M in 2027.
• The transaction requires regulatory approvals in Oregon, Washington and FERC (each review ~11–12 months), carries conditional break fees (~$35M) and depends on outcomes under Oregon’s no‑harm and Washington’s net‑benefit standards, creating timing and approval risk.

Portland General Electric Stock Performance

Shares of NYSE POR traded down $0.88 during midday trading on Tuesday, reaching $53.13. The company’s stock had a trading volume of 103,251 shares, compared to its average volume of 912,072. The stock has a market capitalization of $5.98 billion, a P/E ratio of 19.32, a PEG ratio of 4.73 and a beta of 0.67. Portland General Electric has a 12-month low of $39.54 and a 12-month high of $54.39. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.08 and a quick ratio of 0.95. The firm has a 50 day moving average price of $49.40 and a 200-day moving average price of $46.51.

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 23rd will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, March 23rd. Portland General Electric’s dividend payout ratio (DPR) is presently 76.36%.

Hedge Funds Weigh In On Portland General Electric

Several institutional investors have recently modified their holdings of POR. Johnson Financial Group Inc. purchased a new stake in Portland General Electric in the third quarter worth about $27,000. Northwestern Mutual Wealth Management Co. raised its stake in Portland General Electric by 272.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 719 shares of the utilities provider’s stock valued at $35,000 after buying an additional 526 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Portland General Electric by 61.7% during the 3rd quarter. IFP Advisors Inc now owns 1,080 shares of the utilities provider’s stock valued at $48,000 after buying an additional 412 shares during the period. Smartleaf Asset Management LLC boosted its position in Portland General Electric by 18.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,469 shares of the utilities provider’s stock worth $71,000 after purchasing an additional 226 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in Portland General Electric by 202.7% during the third quarter. CIBC Private Wealth Group LLC now owns 1,816 shares of the utilities provider’s stock valued at $80,000 after buying an additional 1,216 shares during the last quarter.

Portland General Electric News Summary

Here are the key news stories impacting Portland General Electric this week:

• Positive Sentiment: Announced acquisition of PacifiCorp’s Washington generation, transmission and utility operations for $1.9 billion, expanding PGE’s service territory and generation mix (includes Chehalis thermal plant and wind facilities). Management frames the deal as a strategic growth step with a reported ~1.4x 2026 rate-base multiple. PacifiCorp to Sell Washington Service Area to Portland General Electric
• Positive Sentiment: Initiated 2026 adjusted EPS guidance of $3.33–$3.53 and reaffirmed long-term EPS growth of 5%–7%, giving investors a view of future earnings trajectory. Press release on acquisition, 2025 results and 2026 guidance
• Positive Sentiment: Declared a quarterly dividend of $0.525/share (annualized yield ~3.9%), supporting income-focused investors. (Ex-dividend date Mar 23.)
• Neutral Sentiment: Guidance nuance: the $3.33–$3.53 range includes the consensus (~$3.38) but the lower end is below consensus while the midpoint (~$3.43) is slightly above — a mixed signal that may temper reactions until further detail from the call. Press release on guidance
• Negative Sentiment: Q4 EPS missed estimates: reported $0.47 vs. consensus ~ $0.66–$0.72, with management citing historic winter weather that reduced results by roughly $0.17. The miss is the main near-term catalyst pressuring the stock. Zacks: Q4 Earnings Lag Estimates
• Negative Sentiment: Ongoing issues flagged around data-center costs and potential trade-offs with dividend/capex could raise investor concern over capital allocation amid the large acquisition. Yahoo Finance: Data center cost dispute and dividend trade offs

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on POR. BMO Capital Markets reissued a “market perform” rating on shares of Portland General Electric in a report on Tuesday, December 30th. JPMorgan Chase & Co. raised their price target on Portland General Electric from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Barclays upped their price objective on Portland General Electric from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 21st. BTIG Research reissued a “buy” rating and set a $58.00 price target on shares of Portland General Electric in a report on Friday, January 30th. Finally, Mizuho set a $47.00 price target on shares of Portland General Electric in a research report on Monday, November 3rd. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $48.42.

Portland General Electric Company Profile

Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon’s largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.