Portland General Stock Price, News & Analysis

Patricia Salas Pineda has been appointed to the board of directors of Portland General Electric (NYSE:POR), effective October 1, 2022. With over 35 years of leadership experience at Toyota Motor North America, Pineda brings expertise in legal, human resources, and communications. She aims to enhance employee experience and strengthen PGE's competitive position in the electric utility industry. Pineda will serve on the Finance and Compensation, Culture, and Talent Committees, bolstering PGE's capabilities in these areas.

Portland General Electric Company (NYSE: POR) revised its 2022 GAAP earnings guidance to between $2.60 and $2.75 per diluted share from a previous $2.50 to $2.65. It also initiated a non-GAAP adjusted earnings guidance of $2.74 to $2.89. The second quarter 2022 net income soared to $64 million ($0.72 per share), doubling from $32 million in Q2 2021. Continued energy delivery growth, especially in technology sectors, and favorable power costs contributed to this success. PGE also approved a quarterly dividend of $0.4525 per share, showcasing solid financial health.

On July 22, 2022, Portland General Electric (NYSE: POR) declared a quarterly dividend of $0.4525 per share. This decision reflects the company’s focus on capital requirements and financial performance, targeting a long-term payout ratio of 60 to 70%. The dividend is payable on or before October 17, 2022, to shareholders of record by September 26, 2022.

PGE serves around 900,000 customers and aims to significantly reduce greenhouse gas emissions by 80% by 2030 and achieve 100% reduction by 2040.

Portland General Electric (NYSE: POR) will hold an analyst conference call on July 28 at 11 a.m. ET to discuss its second quarter 2022 financial results. The earnings summary will be released before markets open on the same day. The call will feature insights from CEO Maria Pope and other executives. Investors can access the webcast through the company's investor website, with a replay available later that day. PGE serves about 900,000 customers in Oregon and is committed to reducing greenhouse gas emissions significantly by 2030 and 2040.

Portland General Electric Company (NYSE: POR) reported Q1 2022 net income of $60 million, or $0.67 per diluted share, down from $96 million, or $1.07 per diluted share, in Q1 2021. The company revised its 2022 earnings guidance from $2.75-$2.90 to $2.50-$2.65 per diluted share, influenced by regulatory deferrals related to wildfires and COVID-19. Total revenues grew due to higher energy deliveries, though expenses increased due to grid maintenance and labor costs. PGE plans to finalize project selections for its renewable energy RFP by the end of 2022.

On April 22, 2022, Portland General Electric Company (NYSE: POR) announced a 5.2% increase in its annual dividend, raising it by $0.09 per share, resulting in a quarterly payout of $0.4525 per share.

This dividend is scheduled for payment on or before July 15, 2022 for shareholders on record by June 27, 2022. The company aims for a long-term payout ratio of 60-70% based on its financial performance.

Portland General Electric Company (NYSE: POR) announced a proposed settlement concerning derivative actions against its current and former directors and officers. The settlement aims to address allegations of breaching fiduciary duties relating to the company’s energy trading activities. A hearing is set for May 9, 2022, to determine the settlement's approval. If approved, the settlement will release all settled claims and implement corporate governance reforms. The plaintiffs' attorneys' fees are set at $750,000, to be covered by PGE or its insurers. More details are available on PGE's website.

Portland General Electric (NYSE: POR) will host an analyst conference call on April 28 at 11 a.m. ET to discuss its first quarter 2022 financial results, with earnings summary released before market open. The call will be led by CEO Maria Pope and other executives, providing stakeholders an opportunity to gain insights into the company's performance. A replay will be available for a week following the call. PGE serves approximately 900,000 customers and is committed to significant reductions in greenhouse gas emissions by 2030 and 2040.