Portland General Stock Price, News & Analysis

Portland General Electric (NYSE: POR) has announced it will release its fourth quarter and full-year 2024 earnings summary before U.S. financial markets open on February 14, 2025. The company will host an analyst conference call and webcast at 11 a.m. ET on the same day.

The conference call will feature Maria Pope (President and CEO), Joe Trpik (Senior Vice President of Finance and CFO), and Nick White (Manager of Investor Relations). A webcast replay will be available from 2 p.m. ET on February 14 through the company's investor website.

Portland General Electric (PGE) received approval from the Oregon Public Utility Commission for its 2025 rate review, with increases ranging from 5.5% to 7.7% effective January 1, 2025. The Commission authorized a $98 million revenue requirement increase, representing 54% of PGE's requested $182 million. The decision approved a 50-50 debt-equity capital structure with a 9.34% return on equity.

Residential customers will see the lowest increase at 5.5%, comprising 1.9% for power costs, 1.1% for Energy Trust of Oregon funding, and 2.5% for capital investments. Commercial rates will increase by 7.5%, while industrial rates will rise by 6.0%. The rate changes support investments in battery storage, transmission infrastructure, and grid modernization to improve reliability and connect to more carbon-free energy resources.

Avangrid (NYSE: AGR) and Portland General Electric (PGE) have announced a Power Purchase Agreement for the Tower Solar project, a 120 MWac solar energy facility under construction in Morrow County, Oregon. The project, developed in collaboration with QTS and Meta, will deliver renewable energy through PGE's Green Future Impact program. The facility will span 900 acres, utilize over 200,000 solar panels, and create more than 200 construction jobs. The project is expected to generate approximately $20 million in combined PILOTs and property taxes. Tower Solar will be Avangrid's sixth solar facility in Oregon, scheduled for completion in 2026.

Portland General Electric (PGE) achieved a significant milestone with its Clearwater Wind Energy Center, generating over one gigawatt of power from wind sources for the first time in company history. The facility, located in Eastern Montana, provides PGE with 311 megawatts of capacity through ownership (208 MW) and a Power Purchase Agreement (103 MW).

The center began commercial operations in January 2024 and has consistently contributed about 34% of PGE's daily wind generation. The company reached its all-time wind generation record of 1,056 megawatts on February 26, 2024. The facility helps reduce dependency on open market energy purchases and benefits from federal Production Tax Credits.

Portland General Electric (NYSE: POR) reported Q3 2024 net income of $94 million ($0.90 per diluted share), up from $47 million ($0.46 per diluted share) in Q3 2023. The company narrowed its 2024 adjusted earnings guidance to $3.08-$3.18 per diluted share. Revenue growth was driven by increased demand from semiconductor and tech customers, while operating expenses rose due to maintenance and wages. The company filed its final shortlist for the 2023 All-source RFP with the Oregon Public Utility Commission, including both renewable and non-emitting capacity projects. PGE's Green Future program ranked first in voluntary renewable energy participation nationwide for the 15th year.

Portland General Electric Company (NYSE: POR) has declared a quarterly common stock dividend of $0.50 per share. The dividend was declared by the board of directors on October 18, 2024. PGE aims for a long-term dividend payout ratio of 60 to 70%, with the dividend being evaluated based on capital requirements and financial performance. The declared dividend will be payable on or before January 15, 2025, to shareholders of record at the close of business on December 24, 2024.

Portland General Electric Company (NYSE: POR) has announced its upcoming third quarter 2024 earnings release and conference call. The company will release its Q3 2024 earnings summary before U.S. financial markets open on October 25, 2024. An analyst conference call and webcast will follow at 11 a.m. ET on the same day.

The conference call will be hosted by Maria Pope (President and CEO), Joe Trpik (Senior VP of Finance and CFO), and Nick White (Manager of Investor Relations). Investors can access the webcast through POR's investor website. A replay of the webcast will be available from 2 p.m. ET on October 25 in the Archived Events section of the website.

Portland General Electric (NYSE: POR) reported Q2 2024 GAAP net income of $72 million ($0.69 per diluted share), up from $39 million ($0.39 per diluted share) in Q2 2023. Total revenues increased due to demand growth from semiconductor and tech customers, while expenses rose from higher system load and maintenance costs. PGE reaffirmed its 2024 adjusted earnings guidance of $2.98 to $3.18 per diluted share.

Key updates include:

• Exhausted $300 million at-the-market offering program and registered new $400 million program
• Signed MOU for North Plains Connector transmission project
• Ranked No. 1 utility for customer experience by Forrester
• Approved $0.50 quarterly dividend payable October 15, 2024

Portland General Electric Company (NYSE: POR) has declared a quarterly common stock dividend of $0.50 per share. The dividend will be payable on or before October 15, 2024, to shareholders of record at the close of business on September 24, 2024. PGE's dividend policy is based on capital requirements and financial performance, with a long-term target payout ratio of 60 to 70%. This announcement demonstrates the company's commitment to providing consistent returns to its shareholders while maintaining financial flexibility.