Portland General Stock Price, News & Analysis

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.

Portland General Electric Company (NYSE: POR) reported a net income of $244 million or $2.72 per diluted share for 2021, a significant increase from $155 million or $1.72 per diluted share in 2020. Fourth-quarter net income was $66 million ($0.73 per share), up from $52 million ($0.57) year-over-year. Revenue growth is attributed to higher energy demand. For 2022, PGE expects earnings between $2.75 and $2.90 per share, with a focus on renewable resources and grid modernization.

On February 11, 2022, Portland General Electric (NYSE: POR) declared a quarterly dividend of $0.43 per share, payable on or before April 18, 2022. Shareholders on record as of March 25, 2022 will receive this dividend. The company aims for a long-term payout ratio of 60% to 70%, reflecting its commitment to shareholder returns amid a focus on capital requirements and financial performance. PGE serves approximately 900,000 customers and is dedicated to significant greenhouse gas emission reduction goals by 2030 and 2040.

Portland General Electric Company (NYSE: POR) will host an analyst conference call on February 17, 2022, at 11 a.m. ET to discuss its fourth quarter and full-year 2021 financial results. The earnings summary will be released before the market opens on the same day. The call will be led by CEO Maria Pope, CFO Jim Ajello, and investor relations director Jardon Jaramillo. Investors can access the webcast via the company's investor website. A replay of the call will be available from 2 p.m. ET on February 17 to February 24, 2022.

ESS Tech, Inc. (NYSE: GWH) has partnered with Portland General Electric (NYSE: POR) to test the ESS Energy Center™ platform in Wilsonville, Oregon. This 3 MWh Energy Center, set to launch in mid-2022, aims to demonstrate various use cases for energy storage, including frequency response and demand response. The platform, designed for utility-scale applications, distinguishes power from storage capacity, allowing for flexible energy solutions that can operate for up to 12 hours. This collaboration highlights the growing demand for long-duration energy storage technology.