Portland General Electric
Vertically integrated electric utility serving residential, commercial, and industrial customers across Oregon.
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Profile
Generates, purchases, transmits, distributes, and sells electricity to residential, commercial, and industrial customers across a regulated Oregon service territory. Revenue comes mainly from retail electricity and delivery within a single utility segment, with grid investment, clean-energy procurement, and state-approved cost recovery shaping the business.
Generates, purchases, transmits, distributes, and sells electricity across a state-approved Oregon service territory centered on Portland. Retail operations serve residential, commercial, and industrial customers, while wholesale purchases and sales, fuel management, and environmental credits support supply and risk management. The business reports as a single electric-utility segment.
Execution centers on grid reliability, resource planning, wildfire and severe-weather resilience, customer programs, and adding renewable generation and battery storage. Recent load growth comes from high-tech manufacturing and data centers, alongside broader residential and commercial demand.
Revenue comes primarily from electricity sales and delivery under Oregon cost-of-service regulation. Results depend on regulator-approved recovery of generation, purchased-power, transmission, distribution, and resilience costs; federal oversight also applies to wholesale markets, transmission, reliability, and hydroelectric licensing.
Company facts
Key statistics
Year to date +2.4% · Average volume (30d) 1.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 13, 2026 | Ladenburg Thalmann | Upgrade | Sell | Buy | ||
| Aug 4, 2026 | BMO Capital | Target | $54 | $52 | ||
| Jul 22, 2026 | BMO Capital | Reiterate | Market Perform | $55 | $54 | |
| Apr 21, 2026 | Wells Fargo | Target | $49 | $51 | ||
| Feb 19, 2026 | UBS | Reiterate | Neutral | $49 | $55 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 31, 2026Q2 FY26 | $0.65 | $0.64 | −0.9% | $839.8M | $814.0M | −3.1% | −1.52% |
| May 1, 2026Q1 FY26 | $0.77 | $0.58 | −24.4% | $953.2M | $879.0M | −7.8% | −1.45% |
| Feb 17, 2026Q4 FY25 | $0.59 | $0.47 | −20.5% | $862.7M | $889.0M | +3.0% | −3.01% |
| Oct 31, 2025Q3 FY25 | $0.98 | $1.00 | +2.0% | $892.3M | $878.0M | −1.6% | +2.80% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $928.0M | $807.0M | $952.0M | $840.0M | $879.0M | $787.0M | |
| Gross profit | $450.0M | $399.0M | $468.0M | $283.0M | $518.0M | $265.0M | |
| Operating income | $168.0M | $118.0M | $174.0M | $131.0M | $107.0M | $123.0M | |
| Net income | $100.0M | $62.0M | $103.0M | $41.0M | $45.0M | $68.0M | |
| Diluted EPS | $0.91 | $0.56 | $0.94 | $0.35 | $0.41 | $0.58 | |
| Gross margin | 48.5% | 49.4% | 49.2% | 33.7% | 58.9% | 33.7% | |
| Operating margin | 18.1% | 14.6% | 18.3% | 15.6% | 12.2% | 15.6% |
Fiscal years (4-quarter sums)FY21 $2.40B · FY22 $2.65B · FY23 $2.92B · FY24 $3.44B · FY25 $3.53B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $35.0M · Total debt $5.21B · Total assets $13.64B · Shareholders' equity $4.12B
Dividends
Raised for 18 straight years — most recently to $0.5513 from $0.525 in Jun 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 25, 2026 | Jun 25 | Jul 15 | $0.5513 | raised from $0.525 |
| Mar 23, 2026 | Mar 23 | Apr 15 | $0.525 | |
| Dec 22, 2025 | Dec 22 | Jan 15 | $0.525 | |
| Sep 25, 2025 | Sep 25 | Oct 15 | $0.525 | |
| Jun 24, 2025 | Jun 24 | Jul 15 | $0.525 | raised from $0.50 |
| Mar 24, 2025 | Mar 24 | Apr 15 | $0.50 | |
| Dec 24, 2024 | Dec 24 | Jan 15 | $0.50 | |
| Sep 24, 2024 | Sep 24 | Oct 15 | $0.50 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 115.73M · Float 115.11M · 99.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 18.72M | 16.18% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 7.30M | 6.31% | 13F | Aug 13, 2026 |
| Clearbridge Investments, LLC | 6.36M | 5.50% | 13F | Aug 13, 2026 |
| Vanguard Capital Management | 6.19M | 5.34% | 13G | Jul 31, 2026 |
| State Street Corp | 5.02M | 4.34% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 27, 2026 | Michael A. Lewis | director | −1,537 | $51.83 |
| May 8, 2026 | Juan Diego Gallegos | officer: VP, CHRO | −2,750 | $48.68 |
| May 11, 2026 | Robert N. Hoglund | director | +2,000 | $48.80 |
| May 11, 2026 | John Carter McFarland | officer: SVP, Commercial & Customer | −2,390 | $48.52 |
| May 6, 2026 | Joseph R. JR Trpik | officer: SVP, CFO | −7,500 | $49.03 |
Peers
- Avista
Regional electric and gas peer across the Pacific Northwest
- IDACORP
Neighboring Oregon-Idaho electric utility peer
- NW Natural
Local gas alternative for heating and appliances
- Constellation Energy
Direct Access electricity supplier for large C&I load
- The MDU Resources Group
Cascade gas parent in Oregon and Washington energy delivery
- TransAlta
Pacific Northwest wholesale generation and power marketing peer
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Portland General Electric | $49.60 | 0.00% | $5.74B | 21.8 | 13.4 | 1.7 | +0.9% |
| Avista | $37.66 | 0.00% | $3.15B | 13.5 | 14.3 | 1.6 | +0.5% |
| IDACORP | $135.78 | +0.04% | $7.85B | 22.5 | 20.5 | 4.4 | +10.9% |
| NW Natural | $49.50 | +0.02% | $2.08B | 16.2 | 15.7 | 1.6 | +3.1% |
| Constellation Energy | $277.11 | +0.13% | $99.38B | 26.9 | 22.4 | 3.2 | +23.0% |
| The MDU Resources Group | $19.79 | 0.00% | $4.14B | 20.8 | 19.7 | 2.3 | +6.8% |
| TransAlta | $12.19 | +0.04% | $3.64B | — | 44.1 | 2.4 | +7.9% |
| Median | 20.8 | 20.1 | 2.3 | +7.4% |