Portland General Electric Co (POR) Stock Price & How to Invest

Portland General Electric is a vertically integrated, regulated electric utility that generates, transmits, and distributes power to roughly 950,000 customers across a service territory in northwest Oregon, all under the oversight of the Oregon Public Utility Commission. Its earnings are set by that regulator through rate cases that let it recover the cost of, and earn an allowed return on, its invested capital (its rate base). The company is pushing hard into the clean energy transition while managing reliability and affordability, and it is one of the more direct utility plays on surging electricity demand from data centers and high-tech manufacturing in the region.

The investment picture centers on rate-base growth funded by a roughly $6.5 billion five-year capital plan, plus a February 2026 agreement to buy select Washington generation, transmission, and utility operations from PacifiCorp for about $1.9 billion (adding roughly 140,000 customers and lifting the 2026 rate base about 18% to around $9 billion, with Manulife Investment Management as a minority partner). Load growth from data centers has been strong, and Oregon has approved a new large-load rate class that raises data center energy costs about 29% while modestly cutting residential rates. Against that, POR is a capital-intensive, rate-regulated business whose reported results can swing on weather, as the mild winter that hit first quarter 2026 earnings showed.

The first half of 2026 was soft on reported numbers. First-quarter EPS of $0.58 missed the roughly $0.77 consensus on the mild winter, and second-quarter revenue of about $814 million and net income of about $68 million produced EPS of $0.64, a few cents under the $0.67 estimate, even as management again pointed to strong industrial demand. The shares closed at $44.23 on October 16, 2026, down about 8.7% year to date and roughly flat (up 0.8%) over twelve months, close to the 52-week low of $43.26. Third-quarter results are scheduled for October 29, 2026, with consensus EPS of about $1.18 on roughly $1.02 billion of revenue, a quarter that is usually seasonally strong.

As a rate-regulated utility, POR's returns depend on Oregon (and prospectively Washington) regulators approving cost recovery and allowed returns, and outcomes can lag rising costs during periods of heavy capital spending. Earnings are weather-sensitive, as the mild winter that pushed first quarter 2026 results below expectations demonstrated, and second-quarter EPS also came in slightly short. The balance sheet is stretched by the build-out: about $5.6 billion of debt against roughly $35 million of cash, trailing free cash flow near negative $416 million, and a dividend that equals about 94% of trailing earnings. The PacifiCorp acquisition carries integration, financing, regulatory-approval, and reported litigation risk, and a large capital program means continued reliance on debt and equity markets, where new share issuance can dilute existing holders. Wildfire liability, commodity and hydro variability, and clean energy transition execution add further uncertainty.

11 analysts publish price targets on POR, averaging $51.82 against a $44.15 price as of October 2026, or +17.4%. The published targets run from $44.00 to $62.00, a moderate spread, and the ratings split 4 buy, 8 hold, 1 sell. Over the last six months there has been 1 raise and 4 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full POR forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Portland General Electric Co. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Data center and high-tech load growth. Demand from data centers and semiconductor manufacturers has driven double-digit quarter-over-quarter industrial load growth, with industrial demand up about 10% in the first quarter of 2026. The most optimistic published target, $62.00, assumes this works close to its best case.

The case against. As a rate-regulated utility, POR's returns depend on Oregon (and prospectively Washington) regulators approving cost recovery and allowed returns, and outcomes can lag rising costs during periods of heavy capital spending. The most pessimistic target, $44.00, is roughly what POR is worth if this bites instead.

Read the full bull and bear case on POR, including what would have to change to break either one. Walnut is not an investment adviser.

No. Portland General Electric Co (POR) has not split its stock in the last 10 years. That is a statement about the window we check rather than about the company’s entire history, so an older split is possible. It also matters less than it once did: fractional shares mean a high price per share no longer keeps smaller investors out, which removed most of the practical reason to split.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Portland General Electric Co's investor relations page or your broker.

• Revenue (TTM): ~$3.53B, latest quarter up ~1% year over year
• Q2 2026: Revenue ~$814M, net income ~$68M, EPS $0.64 vs ~$0.67 expected
• Net income (TTM): ~$257M; EPS ~$2.26
• P/E: ~19.6x trailing, ~12.3x forward
• Dividend yield: ~5.0% ($2.21 annual, ~94% of trailing EPS)
• Market cap: ~$5.2B at ~$44 per share
• Debt and cash flow: ~$5.6B debt; operating cash flow ~$1.04B, free cash flow ~-$416M

POR trades around $44 per share with a market capitalization near $5.2 billion as of mid-October 2026, down from about $52 and $6.1 billion in July. Trailing earnings are depressed by a mild-winter first quarter and a slight second-quarter miss, which is why the trailing P/E near 20 sits well above the forward multiple near 12; analysts expect EPS to recover to about $3.36 in 2026 and $3.59 in 2027. Like most regulated utilities, POR is valued heavily on its dividend yield, rate-base growth, and allowed returns, and Q3 results arrive October 29, 2026.

Other names that sit close to POR: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get POR exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so POR sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where POR fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

POR is a regulated Pacific Northwest utility whose thesis rests on rising data center demand, a growing rate base, and a steady, rising dividend, tempered by regulatory and execution risk. Two straight quarters of earnings below estimates have pushed the shares near their 52-week low, so the stock now trades on a roughly 5% yield and about 12 times next year's expected earnings.

Whether POR is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is POR a buy or a sell?, and where the stock could go from here in the POR stock forecast.

For income investors, whether POR pays a dividend and how the payout looks is covered in does POR pay a dividend? And to weigh POR against a peer, read the full side-by-side comparisons: POR vs IDA and POR vs AVA.