Portland General Electric is a fully integrated energy company based in Portland, Oregon, with operations across the state. The company serves approximately 900,000 customers with a service area population of 2 million Oregonians in 51 cities. PGE owns 16 generation plants across Oregon and other Northwestern states and maintains and operates 14 public parks and recreation areas. For over 130 years, PGE has delivered safe, affordable and reliable energy to Oregonians. Together with its customers, PGE has the No. 1 voluntary renewable energy program in the U.S. PGE and its 3,000 employees are working with customers to build a clean energy future. In 2020, PGE, employees, retirees and the PGE Foundation donated $5.6 million and volunteered 18,200 hours with more than 400 nonprofits across Oregon.

Company profile
Ticker
POR
Exchange
Website
CEO
Maria Pope
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
IRS number
930256820
POR stock data
News

Short Interest Sector Focus: Utilities Sector
4 Aug 22
Portland General Electric's Return on Invested Capital Overview
3 Aug 22
Benzinga's Top Ratings Upgrades, Downgrades For August 1, 2022
1 Aug 22
B of A Securities Downgrades Portland Gen Electric to Neutral, Announces $52 Price Target
1 Aug 22
Recap: Portland General Electric Q2 Earnings
28 Jul 22
Press releases
Portland General Electric Announces Second Quarter 2022 Results
28 Jul 22
Portland General Electric declares dividend
22 Jul 22
Portland General Electric schedules earnings release and conference call for Thursday, July 28
28 Jun 22
Portland General Electric Set to Join S&P MidCap 400; Digital Turbine to Join S&P SmallCap 600
24 Jun 22
Analyst ratings and price targets
Current price
Average target
$50.75
Low target
$49.00
High target
$52.00
B of A Securities
Downgraded
$52.00
Barclays
Maintains
$49.00
Mizuho
Downgraded
$50.00
Goldman Sachs
Upgraded
$52.00
Calendar
27 Jul 22
13 Aug 22
31 Dec 22
Financial summary
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Diluted EPS |
Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 91M | 91M | 91M | 91M | 91M | 91M |
Cash burn (monthly) | 6.33M | (no burn) | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | 9.23M | n/a | n/a | n/a | n/a | n/a |
Cash remaining | 81.77M | n/a | n/a | n/a | n/a | n/a |
Runway (months of cash) | 12.9 | n/a | n/a | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
10 Aug 22 | John Teeruk Kochavatr | Common Stock | Sell | Dispose S | No | No | 53.715 | 2,000 | 107.43K | 14,112 |
8 Aug 22 | Sims Michael Brett | Common Stock | Sell | Dispose S | No | No | 52.786 | 1,525 | 80.5K | 11,638 |
29 Jul 22 | John Teeruk Kochavatr | Common Stock | Payment of exercise | Dispose F | No | No | 51.34 | 358 | 18.38K | 16,112 |
29 Jul 22 | John Teeruk Kochavatr | Common Stock | Grant | Acquire A | No | No | 0 | 1,100 | 0 | 16,470 |
25 Jul 22 | Nicholas Gustin Blosser | Common Stock | Grant | Acquire A | No | No | 0 | 10,103 | 0 | 10,103 |
Institutional ownership, Q1 2022
92.4% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 339 |
Opened positions | 48 |
Closed positions | 36 |
Increased positions | 132 |
Reduced positions | 109 |
13F shares | Current |
---|---|
Total value | 4.59B |
Total shares | 82.49M |
Total puts | 12.1K |
Total calls | 43.5K |
Total put/call ratio | 0.3 |
Largest owners | Shares | Value |
---|---|---|
Vanguard | 9.73M | $536.46M |
BLK Blackrock | 7.8M | $430.25M |
Wellington Management | 6.07M | $334.65M |
Fuller & Thaler Asset Management | 4.46M | $245.82M |
FMR | 4.17M | $230.13M |
JPM JPMorgan Chase & Co. | 3.13M | $172.36M |
STT State Street | 2.43M | $135.27M |
Massachusetts Financial Services | 2.38M | $131.17M |
CNS Cohen & Steers | 2.04M | $112.41M |
Geode Capital Management | 1.57M | $86.48M |
Financial report summary
?Risks
- Development of alternative technologies and changes in legislation and regulation may negatively impact the value of PGE’s facilities.
Management Discussion
- * Includes an allowance for borrowed funds used during construction of $1 million and $2 million for the three months ended June 30, 2022 and 2021, and $3 million and $4 million for the six months ended June 30, 2022 and 2021, respectively.
- Net income for the three months ended June 30, 2022 was double that of the three months ended June 30, 2021 as total revenues increased while Purchased power and fuel expenses declined. Revenues increased as a result of several factors, including an increase in customer prices to cover anticipated higher net variable power costs as authorized by the OPUC in the AUT. The Company was able to optimize forward contracts for power and natural gas to lower its Purchased power and fuel expense compared to the same period of 2021, thus improving income from operations. Wholesale revenues also increased substantially while Other operating revenues reflected gains from the sale of excess natural gas back into the market. Total operating expenses were comparable to the prior year quarter as the savings in Purchased power and fuel expense mostly offset modest increases in the other line items. Other income declined primarily due to changes in performance of the Non-qualified benefit plan trust assets. Income taxes increased due primarily to higher Income before income tax expense.
- Net income for the six months ended June 30, 2022 was comparable to the same period of 2021. Wholesale revenues were the largest contributor to higher revenues in 2022 as both volumes and prices have increased. Increases in Retail revenues were led by the increase in customer prices to cover anticipated higher net variable power costs, as authorized by the OPUC in the AUT, which were anticipated to be offset by higher power costs.
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. sophomore Avg
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New words:
bankruptcy, chapter, closer, contributor, COVID, CPP, matter, modest, nameplate, parent, payroll, prorated, PSO, reauthorization, relied, session, shape, show, snowpack, subscription, threshold, treatment
Removed:
admission, alternative, appointed, asserting, Cannataro, catastrophic, combine, commence, compensatory, constructed, dismissal, dismissed, drier, enable, exhausted, expansion, expert, fault, fewer, fourth, geared, GFI, hardening, heavily, Hessel, hotter, lack, legislation, light, Mississippi, NextEra, platform, prejudice, prevailing, purported, regulate, reimbursement, resolve, Retirement, sooner, substation, tech, underground, unspecified, upgrading, wire, wrongdoing
Financial reports
Current reports
8-K
Other Events
2 Aug 22
8-K
Portland General Electric
28 Jul 22
8-K
Other Events
10 May 22
8-K
Portland General Electric
28 Apr 22
8-K
Regulation FD Disclosure
1 Apr 22
8-K
Portland General Electric
17 Feb 22
8-K
Other Events
18 Jan 22
8-K
Other Events
20 Dec 21
8-K
Portland General Electric
29 Oct 21
8-K
Entry into a Material Definitive Agreement
30 Sep 21
Registration and prospectus
424B5
Prospectus supplement for primary offering
2 Aug 22
S-3ASR
Automatic shelf registration
1 Aug 22
424B5
Prospectus supplement for primary offering
2 Aug 19
S-3ASR
Automatic shelf registration
2 Aug 19
S-3ASR
Automatic shelf registration
13 Nov 16
S-3ASR
Automatic shelf registration
11 Nov 13
424B2
Prospectus for primary offering
12 Jun 13
424B5
Prospectus supplement for primary offering
9 Jun 13
424B5
Prospectus supplement for primary offering
31 Mar 11
S-3ASR
Automatic shelf registration
17 Nov 10
Proxies
DEFA14A
Additional proxy soliciting materials
16 Mar 22
DEFA14A
Additional proxy soliciting materials
8 Mar 22
DEFA14A
Additional proxy soliciting materials
24 Mar 21
DEFA14A
Additional proxy soliciting materials
16 Mar 21
DEFA14A
Additional proxy soliciting materials
1 Apr 20
DEFA14A
Additional proxy soliciting materials
11 Mar 20
DEF 14A
Definitive proxy
14 Mar 19
Other
UPLOAD
Letter from SEC
7 Sep 21
CORRESP
Correspondence with SEC
30 Aug 21
UPLOAD
Letter from SEC
26 Aug 21
CORRESP
Correspondence with SEC
17 Aug 21
UPLOAD
Letter from SEC
10 Aug 21
UPLOAD
Letter from SEC
26 Aug 18
CORRESP
Correspondence with SEC
14 Aug 18
UPLOAD
Letter from SEC
8 Aug 18
NO ACT
No action letter
18 Feb 16
UPLOAD
Letter from SEC
6 Oct 13
Ownership
4
PORTLAND GENERAL ELECTRIC / John Teeruk Kochavatr ownership change
10 Aug 22
4
PORTLAND GENERAL ELECTRIC / Brett Michael Sims ownership change
8 Aug 22
4
PORTLAND GENERAL ELECTRIC / John Teeruk Kochavatr ownership change
1 Aug 22
4
PORTLAND GENERAL ELECTRIC / Nicholas Gustin Blosser ownership change
25 Jul 22
3
PORTLAND GENERAL ELECTRIC / Nicholas Gustin Blosser ownership change
25 Jul 22
4
PORTLAND GENERAL ELECTRIC / James P Torgerson ownership change
22 Jul 22
4
PORTLAND GENERAL ELECTRIC / M Lee Pelton ownership change
22 Jul 22
4
PORTLAND GENERAL ELECTRIC / Michael Millegan ownership change
22 Jul 22
4
PORTLAND GENERAL ELECTRIC / Michael A Lewis ownership change
22 Jul 22
4
PORTLAND GENERAL ELECTRIC / Kathryn Jean Jackson ownership change
22 Jul 22
Transcripts
2022 Q2
Earnings call transcript
29 Jul 22
2022 Q1
Earnings call transcript
29 Apr 22
2021 Q4
Earnings call transcript
18 Feb 22
2021 Q3
Earnings call transcript
29 Oct 21
2021 Q2
Earnings call transcript
30 Jul 21
2021 Q1
Earnings call transcript
30 Apr 21
2020 Q4
Earnings call transcript
19 Feb 21
2020 Q3
Earnings call transcript
30 Oct 20
2020 Q2
Earnings call transcript
31 Jul 20
2020 Q1
Earnings call transcript
24 Apr 20
Reddit threads
Daily Discussion Thread - July 28th, 2022
28 Jul 22
Daily Discussion Thread - July 27th, 2022
27 Jul 22
Daily Discussion Thread - July 26th, 2022
26 Jul 22
Daily Discussion Thread - July 25th, 2022
25 Jul 22
Daily Discussion Thread - June 24th, 2022
24 Jun 22
Daily Discussion Thread - June 23rd, 2022
23 Jun 22
Daily Discussion Thread - June 22nd, 2022
22 Jun 22
Daily Discussion Thread - June 21st, 2022
21 Jun 22
Give me a company and I will make a Discounted Cash Flow (DCF) model.
7 Jun 22
Daily Discussion Thread - April 28th, 2022
28 Apr 22