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Portland General Electric Company - POR STOCK NEWS

Welcome to our dedicated page for Portland General Electric Company news (Ticker: POR), a resource for investors and traders seeking the latest updates and insights on Portland General Electric Company stock.

Portland General Electric Company (NYSE: POR) is a leading regulated electric utility in the United States, serving over 930,000 customers across 51 cities in Oregon. Founded in 1889, PGE generates, transmits, and distributes electricity, covering approximately half of Oregon's residents and two-thirds of the state's business activity. The company owns a diverse portfolio of energy resources including gas, coal, wind, and hydro generation, amounting to 3.5 gigawatts.

PGE is committed to providing reliable, affordable, and increasingly clean energy. It boasts the largest voluntary renewable energy program in the United States, underscoring its customers’ preference for sustainable energy solutions. The company has set ambitious targets to reduce greenhouse gas emissions by 80% by 2030 and achieve net-zero emissions by 2040.

Recent achievements include the successful implementation of the 2023 All-Source Request for Proposal (RFP) aimed at securing non-emitting dispatchable capacity and renewable generation projects. PGE has also initiated groundbreaking projects such as the Clearwater Wind Development, which added 311 MW of wind energy capacity in 2024.

Financially, PGE reported a net income of $228 million for the year ended 2023, with quarterly dividends demonstrating robust stakeholder value. The company remains resilient amidst market volatility, showing strong revenue growth driven by high demand from digital and semiconductor sectors.

On the community front, PGE's employees are dedicated to volunteerism and philanthropy, contributing millions of dollars and thousands of volunteer hours annually. The company's efforts toward diversity and inclusion have been recognized by the Bloomberg Gender-Equality Index for five consecutive years.

PGE continues to innovate and collaborate with regional partners. A recent partnership involves the North Plains Connector, a major transmission project designed to enhance grid reliability and access to new energy resources. The project aims to double transfer capacity between the eastern and western U.S. electric grids.

Looking ahead, PGE is set to participate in the California Independent System Operator's Extended Day-Ahead Market (EDAM) by 2026, which is expected to result in significant energy cost savings and increased resilience.

As the company progresses through 2024, its commitment to sustainability, community engagement, and financial prudence positions it favorably to meet the evolving energy demands of its customers and stakeholders.

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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.

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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.

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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.

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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
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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.

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Portland General Electric (NYSE: POR) announced a conference call and webcast scheduled for July 26, 2024, at 11 a.m. ET to discuss their Q2 2024 financial results. The earnings summary will be released before the U.S. financial markets open on the same day. The call will be led by Maria Pope, President and CEO, Joe Trpik, SVP of Finance and CFO, and Nick White, Manager of Investor Relations. Interested parties can access the live webcast via the company's investor website. A replay will be available starting at 2 p.m. ET on July 26 in the Archived Events section of the website.

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Portland General Electric (PGE) has signed a non-binding memorandum of understanding with Grid United and ALLETE for the development of the North Plains Connector, a 415-mile high-voltage direct-current (HVDC) transmission line. This line will connect Bismarck, North Dakota, and Colstrip, Montana, and double the transfer capacity between the eastern and western U.S. electric grids. PGE is expected to hold a 20% ownership share and gain 600 megawatts of transfer capacity. The project aims to provide access to renewable energy, reduce congestion, and enhance wholesale markets. The estimated $3.2 billion investment will create over 600 jobs during construction.

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Portland General Electric (POR) reported strong first quarter 2024 results with net income of $109 million, or $1.08 per diluted share, and non-GAAP net income of $123 million, or $1.21 per diluted share. The company reaffirmed its 2024 adjusted earnings guidance of $2.98 to $3.18 per diluted share. Total revenues increased due to semiconductor and digital demand growth, while expenses rose due to severe weather events. Clearwater Wind Development, a 311 MW wind project, was placed into service, and PGE filed a 2025 General Rate Case. The company also joined the Extended Day-Ahead Market to lower power costs. PGE's 2023 ESG Report highlighted its commitment to environmental and social values. The company approved a quarterly dividend of $0.50 per share and provided detailed 2024 earnings guidance. Non-GAAP financial measures were used to present adjusted earnings.
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Portland General Electric Company (NYSE: POR) announced a 5.3% increase in its quarterly common stock dividend to $0.50 per share, reflecting the company's strong financial performance. The dividend payout ratio is targeted at 60 to 70% over the long term.
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Portland General Electric Company (NYSE: POR) will host an analyst conference call and webcast to review its first quarter 2024 financial results. The earnings summary will be released before the US markets open on April 26, with key executives like Maria Pope and Joe Trpik participating.
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FAQ

What is the current stock price of Portland General Electric Company (POR)?

The current stock price of Portland General Electric Company (POR) is $47.195 as of November 6, 2024.

What is the market cap of Portland General Electric Company (POR)?

The market cap of Portland General Electric Company (POR) is approximately 5.0B.

What services does Portland General Electric provide?

Portland General Electric provides electricity generation, transmission, and distribution services to over 930,000 customers in Oregon.

What are PGE's clean energy goals?

PGE aims to reduce greenhouse gas emissions by 80% by 2030 and achieve 100% net-zero emissions by 2040.

How many employees does Portland General Electric have?

Portland General Electric employs approximately 3,000 people.

What recent projects has PGE undertaken?

Recent projects include the Clearwater Wind Development and the North Plains Connector transmission line.

How does PGE support the community?

PGE supports the community through volunteerism, philanthropy, and partnerships, contributing millions of dollars and thousands of volunteer hours annually.

What financial performance did PGE report for 2023?

PGE reported a net income of $228 million for the year ended December 31, 2023.

What is PGE's renewable energy program?

PGE runs the largest voluntary renewable energy program in the U.S., known as Green Future, which supports renewable energy adoption among its customers.

What partnerships is PGE involved in?

PGE is involved in partnerships such as the North Plains Connector project to expand transmission capabilities and access to renewable energy.

What recognition has PGE received for its diversity efforts?

PGE has been recognized by the Bloomberg Gender-Equality Index for its commitment to creating an inclusive workplace.

When is PGE's next earnings call?

PGE will host its next earnings call on April 26, 2024, to review its first-quarter financial results.

Portland General Electric Company

NYSE:POR

POR Rankings

POR Stock Data

4.97B
105.46M
0.48%
105.66%
3.39%
Utilities - Regulated Electric
Electric Services
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United States of America
PORTLAND