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POR · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Portland General Electric Company (POR) stock moving?
PGE cut its 2026 adjusted EPS guidance to $3.18-$3.28 from $3.33-$3.53 after Q3 adjusted EPS of $1.06 missed the $1.11 estimate and sales of $969M missed the $1.031B estimate. Management blamed the mildest third quarter in a decade, which cost about $0.20 of EPS year to date, and said long-term guidance is unchanged. Operating signals are mixed to positive: industrial demand rose 9% weather-adjusted on high-tech and data center load, and the Extended Day-Ahead Market went live Oct 1 with an estimated $14M of customer savings in 2027. The 2026 CEP/IRP filed Oct 15 identifies 3,377 MW of resource additions needed by 2030, which supports a growing investment base. Regulatory risk is still open: the OPUC's Sep 25 holding-company order imposes dividend and credit-rating conditions that management says could limit funding for reliability investments, and PGE has asked for clarification. Analysts moved modestly after the results. Wells Fargo kept Overweight and cut its target to $56 from $58, BMO kept Market Perform and trimmed to $47 from $48, and BofA raised to $45 from $43. The stock closed at $44.19 on the results day and has since risen about 3.9% to $45.92 on Nov 10, with intraday highs of $46.82 on Nov 5. Volume has faded from 4.17M on Nov 3 to 1.26M on Nov 10, so the rebound has not drawn strong participation. Recent trading has held above the October lows near $44.0.
News behind the analysis
- Portland General Electric Selects Kraken to Deliver Greater Value for Customers and Lower Operating CostsPGE will run its customer operations and energy-flexibility programs on a single Kraken platform. The move is aimed at lowering operating costs.
- BofA Securities Adjusts Price Target on Portland General Electric to $45 From $43BofA raised its price target to $45 from $43. The target is still below the closing price of $45.92 on Nov 10.
- BMO Trims Price Target on Portland General Electric to $47 From $48, Keeps Market Perform RatingBMO lowered its price target to $47 from $48 and kept a Market Perform rating, a neutral stance.
- Wells Fargo Maintains Overweight on Portland General Electric, Lowers Price Target to $56Wells Fargo kept its Overweight rating and cut its price target to $56 from $58 after the third-quarter results.
- Portland General Electric Reports Third Quarter 2026 Financial Results and Revises GuidancePGE reported Q3 2026 net income of $119 million, or $1.00 per diluted share, and non-GAAP EPS of $1.06. It cut 2026 adjusted EPS guidance to $3.18-$3.28 on mild weather, while saying long-term guidance remains intact.
- Portland Gen Electric Q3 Adj. EPS $1.06 Misses $1.11 Estimate, Sales $969.000M Miss $1.031B EstimateAdjusted EPS of $1.06 missed the $1.11 estimate, and sales of $969M fell short of the $1.031B estimate.
- Portland General Electric Lowers FY2026 Adj EPS Guidance from $3.33-$3.53 to $3.18-$3.28 vs $3.32 EstThe new 2026 adjusted EPS range of $3.18-$3.28 sits below the prior $3.33-$3.53 range and the $3.32 consensus estimate.
About Portland General Electric Company
Portland General Electric is Oregon's largest electric utility. It generates, transmits and distributes power to nearly 960,000 customers in and around Portland, an area of roughly 2 million people. What sets it apart is Oregon's strict clean-energy law, which requires big investment in renewables and batteries, and fast-growing demand from data centers and chip makers.
How it makes money
Almost all of its revenue comes from regulated electricity sales to homes, businesses and industrial customers. The Oregon Public Utility Commission sets the rates, which are designed to let the company recover its costs and earn an approved return on the power plants, wires and other assets it owns. Profit grows mainly as that asset base grows. Smaller amounts come from wholesale power sales and transmission service, which federal regulators oversee. It also pays a regular dividend, currently about $2.20 per share a year.
What usually moves POR
- Oregon rate case decisions and allowed returns
- Data center and high-tech industrial load growth
- Weather-driven electricity demand
- Interest rates and financing costs for large clean-energy investments
- Wildfire risk and related liabilities