Portland General Stock Price, News & Analysis

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.

Portland General Electric (NYSE: POR) reported a net income of $50 million, or 56 cents per diluted share, for Q3 2021, turning around from a $17 million loss in Q3 2020. Increased revenues stem from higher retail energy deliveries, strong residential demand, and high-tech manufacturing growth, despite challenges from weather and market volatility. PGE plans to initiate a renewable RFP in December, aiming for significant clean energy capacity by 2030. The company also reaffirmed its 2021 earnings guidance of $2.70 to $2.85 per share.

Dawn L. Farrell has been appointed to the Portland General Electric (NYSE:POR) board of directors, effective January 1, 2022. With over 35 years in the energy sector, including her recent role as President and CEO of TransAlta Corporation, Farrell brings valuable experience during a time of regulatory changes and technological advancements. She will serve on the Nominating, Governance and Sustainability Committee and the Finance Committee. PGE, serving 900,000 customers in Oregon, is focused on achieving significant greenhouse gas emissions reductions and enhancing its renewable energy programs.

On October 26, 2021, Portland General Electric Company (NYSE: POR) announced a quarterly common stock dividend of 43 cents per share. This dividend will be distributed to shareholders on or before January 18, 2022, to those on record by December 27, 2021. The company aims for a dividend payout ratio of 60% to 70% based on capital requirements and financial performance. Portland General Electric serves approximately 900,000 customers across Oregon and is focused on achieving sustainable energy goals, including a 100% reduction in GHG emissions by 2040.

Portland General Electric (PGE) announced plans to significantly increase clean energy supply, aiming for an 80% reduction in GHG emissions by 2030, 90% by 2035, and zero emissions by 2040. The company initiated a public RFP process requesting around 1,000 MW of renewable resources, targeting 375-500 MW from renewables and 375 MW of non-emitting power. PGE also filed a Distribution System Plan to support this transition, aiming for 25% of peak power from customer resources by 2030. The goal includes an acceleration of coal phase-out by 2025 while enhancing grid reliability.

Portland General Electric (NYSE: POR) has announced a partnership with Nest Renew from Google to enhance energy management and promote clean energy usage among customers. This initiative offers two approaches: Nest Renew Basic, which optimizes heating and cooling based on cleaner energy availability, and Nest Renew Premium, which includes Clean Energy Match to offset fossil fuel usage with renewable energy credits. This service aims to simplify energy management and bolster participation in existing energy-saving programs. The rollout is set to begin in Fall 2021.