Portland General Electric (POR)


Market Price (10/2/2026): $44.765 | Market Cap: $5.2 BilSector: Utilities | Industry: Electric Utilities

Portland General Electric (POR)


Market Price (10/2/2026): $44.765
Market Cap: $5.2 Bil
Sector: Utilities
Industry: Electric Utilities

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.5%, Dividend Yield is 4.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.7%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 29%

Low stock price volatility
Vol 12M is 19%

Megatrend and thematic drivers
Megatrends include Renewable Energy Transition, and Electrification of Everything. Themes include Battery Storage & Grid Modernization, Solar Energy Generation, Show more.

Weak multi-year price returns
2Y Excs Rtn is -30%, 3Y Excs Rtn is -58%

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 100%

Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -5.3%

Key risks
POR key risks include [1] adverse profitability impacts from Oregon Public Utility Commission decisions and state decarbonization mandates, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.5%, Dividend Yield is 4.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.7%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 29%
2 Low stock price volatility
Vol 12M is 19%
3 Megatrend and thematic drivers
Megatrends include Renewable Energy Transition, and Electrification of Everything. Themes include Battery Storage & Grid Modernization, Solar Energy Generation, Show more.
4 Weak multi-year price returns
2Y Excs Rtn is -30%, 3Y Excs Rtn is -58%
5 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 100%
6 Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -5.3%
7 Key risks
POR key risks include [1] adverse profitability impacts from Oregon Public Utility Commission decisions and state decarbonization mandates, Show more.

POR in ETFs

Weight = POR's share of each fund

VTI0.01%
ITOT0.01%
IWM0.18%
IJH0.16%
VYM0.02%
VB0.07%
MDYV0.34%
IJJ0.33%
+13 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

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Updated on 10/1/2026

Portland General Electric (POR) stock has lost about 15% since 6/30/2026 because of the following key factors:

1. Portland General Electric reported a miss on its fiscal Q2 2026 earnings and revenue. On July 31, 2026, the company announced non-GAAP earnings per share (EPS) of $0.64, falling short of analysts' consensus estimates of $0.65. Additionally, revenue for the quarter was $814.00 million, missing expectations of $839.75 million.

2. Regulatory conditions imposed on Portland General Electric's proposed holding company reorganization created strategic uncertainty. On September 25, 2026, the Oregon Public Utility Commission (OPUC) issued an order for the company's reorganization plan that included conditions diverging from previously agreed stipulations. These conditions could restrict activities like dividends tied to retained earnings and potentially limit future investments. Portland General Electric stated that it might abandon the proposal if these provisions are not clarified or modified, introducing uncertainty about the company's future corporate structure and investment capabilities.

Show more
Updated on 10/1/2026

Portland General Electric (POR) stock has lost about 15% since 6/30/2026 because of the following key factors:

1. Portland General Electric reported a miss on its fiscal Q2 2026 earnings and revenue. On July 31, 2026, the company announced non-GAAP earnings per share (EPS) of $0.64, falling short of analysts' consensus estimates of $0.65. Additionally, revenue for the quarter was $814.00 million, missing expectations of $839.75 million.

2. Regulatory conditions imposed on Portland General Electric's proposed holding company reorganization created strategic uncertainty. On September 25, 2026, the Oregon Public Utility Commission (OPUC) issued an order for the company's reorganization plan that included conditions diverging from previously agreed stipulations. These conditions could restrict activities like dividends tied to retained earnings and potentially limit future investments. Portland General Electric stated that it might abandon the proposal if these provisions are not clarified or modified, introducing uncertainty about the company's future corporate structure and investment capabilities.

3. Multiple analyst downgrades and price target reductions signaled reduced investor confidence. In September 2026, KeyCorp trimmed its fiscal Q3 2026 EPS estimate for Portland General Electric to $1.25 from $1.26, adding to near-term earnings caution. UBS lowered its price target for the stock from $53 to $50, while BMO Capital Markets also cut its target price from $52.00 to $47.00. These revisions contributed to negative sentiment, with the stock experiencing a 6.5% drop following an analyst downgrade.

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Stock Movement Drivers

Fundamental Drivers

The -12.6% change in POR stock from 6/30/2026 to 10/1/2026 was primarily driven by a -14.6% change in the company's P/E Multiple.
(LTM values as of)630202610012026Change
Stock Price ($)51.2244.76-12.6%
Change Contribution By: 
Total Revenues ($ Mil)3,5273,5340.2%
Net Income Margin (%)7.1%7.3%2.2%
P/E Multiple23.620.2-14.6%
Shares Outstanding (Mil)116116-0.1%
Cumulative Contribution-12.6%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/1/2026
ReturnCorrelation
POR-12.6% 
Market (SPY)2.3%19.3%
Sector (XLU)-12.5%66.0%

Fundamental Drivers

The -13.2% change in POR stock from 3/31/2026 to 10/1/2026 was primarily driven by a -15.0% change in the company's Net Income Margin (%).
(LTM values as of)331202610012026Change
Stock Price ($)51.5944.76-13.2%
Change Contribution By: 
Total Revenues ($ Mil)3,5763,534-1.2%
Net Income Margin (%)8.6%7.3%-15.0%
P/E Multiple19.020.26.0%
Shares Outstanding (Mil)113116-2.6%
Cumulative Contribution-13.2%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/1/2026
ReturnCorrelation
POR-13.2% 
Market (SPY)17.8%0.8%
Sector (XLU)-13.0%69.2%

Fundamental Drivers

The 6.3% change in POR stock from 9/30/2025 to 10/1/2026 was primarily driven by a 28.5% change in the company's P/E Multiple.
(LTM values as of)930202510012026Change
Stock Price ($)42.1144.766.3%
Change Contribution By: 
Total Revenues ($ Mil)3,4883,5341.3%
Net Income Margin (%)8.4%7.3%-13.7%
P/E Multiple15.720.228.5%
Shares Outstanding (Mil)110116-5.4%
Cumulative Contribution6.3%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/1/2026
ReturnCorrelation
POR6.3% 
Market (SPY)15.6%-1.3%
Sector (XLU)-7.1%62.4%

Fundamental Drivers

The 26.8% change in POR stock from 9/30/2023 to 10/1/2026 was primarily driven by a 30.5% change in the company's P/E Multiple.
(LTM values as of)930202310012026Change
Stock Price ($)35.3144.7626.8%
Change Contribution By: 
Total Revenues ($ Mil)2,8263,53425.1%
Net Income Margin (%)7.9%7.3%-7.4%
P/E Multiple15.420.230.5%
Shares Outstanding (Mil)97116-16.1%
Cumulative Contribution26.8%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/1/2026
ReturnCorrelation
POR26.8% 
Market (SPY)84.9%16.2%
Sector (XLU)46.2%67.1%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
POR Return28%-4%-8%5%15%-4%32%
Peers Return8%14%-4%13%8%-5%37%
S&P 500 Return27%-19%24%23%16%12%104%

Monthly Win Rates [3]
POR Win Rate50%58%50%58%67%33% 
Peers Win Rate50%60%53%57%63%40% 
S&P 500 Win Rate75%42%67%75%67%44% 

Max Drawdowns [4]
POR Max Drawdown-10%-25%-23%-11%-10%-17% 
Peers Max Drawdown-20%-21%-21%-12%-20%-21% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: AVA, IDA, NWE, PCG, SRE. See POR Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/1/2026 (YTD)

How Low Can It Go

EventPORS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-19.5%-9.5%
  % Gain to Breakeven24.2%10.5%
  Time to Breakeven289 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-17.7%-24.5%
  % Gain to Breakeven21.5%32.4%
  Time to Breakeven178 days427 days
2020 COVID-19 Crash
  % Loss-36.2%-33.7%
  % Gain to Breakeven56.6%50.9%
  Time to Breakeven2059 days140 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-10.8%-12.2%
  % Gain to Breakeven12.1%13.9%
  Time to Breakeven41 days62 days
2013 Taper Tantrum
  % Loss-12.9%-0.2%
  % Gain to Breakeven14.8%0.2%
  Time to Breakeven154 days1 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-16.2%-17.9%
  % Gain to Breakeven19.3%21.8%
  Time to Breakeven137 days123 days

Compare to AVA, IDA, NWE, PCG, SRE

In The Past

Portland General Electric's stock fell -4.7% during the 2025 US Tariff Shock. Such a loss loss requires a 5.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventPORS&P 500
2020 COVID-19 Crash
  % Loss-36.2%-33.7%
  % Gain to Breakeven56.6%50.9%
  Time to Breakeven2059 days140 days
2008-2009 Global Financial Crisis
  % Loss-44.0%-53.4%
  % Gain to Breakeven78.7%114.4%
  Time to Breakeven725 days1085 days

Compare to AVA, IDA, NWE, PCG, SRE

In The Past

Portland General Electric's stock fell -4.7% during the 2025 US Tariff Shock. Such a loss loss requires a 5.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Portland General Electric (POR)

Portland General Electric (POR) is an integrated electric utility company primarily operating in Oregon. The company's core business revolves around the entire electricity supply chain, encompassing the generation of power from its diverse portfolio of thermal plants, wind farms, and hydroelectric facilities. Beyond generation, POR also procures electricity wholesale and is responsible for its transmission and distribution across a vast network of lines to end-users. Additionally, the company engages in the wholesale purchase and sale of natural gas, serving markets in the United States and Canada.

The company maintains significant infrastructure to support its operations, including over 1,200 circuit miles of electric transmission lines and more than 28,000 circuit miles of distribution lines. Portland General Electric's primary customers are located in Oregon, where it serves approximately 917,000 residential, commercial, and industrial customers across 51 cities.

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Here are 1-3 brief analogies for Portland General Electric (POR):

  • The Duke Energy of Oregon.

  • Oregon's version of Pacific Gas and Electric (PG&E), handling the full scope of electricity from generation to delivery for its service area.

AI Analysis | Feedback

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  • Electricity Generation and Distribution: Portland General Electric generates, transmits, distributes, and sells electricity to residential, commercial, and industrial customers across Oregon.
  • Wholesale Natural Gas: The company engages in the wholesale purchase and sale of natural gas in the United States and Canada.
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Portland General Electric (POR) sells primarily to individuals and businesses rather than other companies. The company serves approximately 917 thousand customers, which are categorized as:

  • Residential customers
  • Commercial customers
  • Industrial customers
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Maria Pope, President and Chief Executive Officer

Maria Pope became President of Portland General Electric in October 2017 and Chief Executive Officer in January 2018. She joined PGE in 2009 as Chief Financial Officer and Treasurer, and later served as Senior Vice President of Power Supply, Operations and Resource Strategy. Prior to her time at PGE, Ms. Pope was the Chief Financial Officer of Mentor Graphics Corporation. She has held senior operating and finance positions across the technology, forest products, and consumer products industries. Ms. Pope began her career in banking with Morgan Stanley. She has two decades of board experience, including serving as past board chair and current lead independent director of Columbia Banking System, Inc.

Joseph Trpik, Senior Vice President of Finance, Chief Financial Officer and Treasurer

Joseph Trpik was appointed Chief Financial Officer and Senior Vice President of Portland General Electric in June 2023. Before joining PGE, Mr. Trpik spent more than two decades in senior leadership roles at Exelon, a large utility company. His roles at Exelon included Senior Vice President and Chief Accounting Officer, as well as Senior Vice President and Chief Financial Officer of Exelon Utilities and ComEd, Exelon's largest utility subsidiary. His responsibilities encompassed financial planning and analysis, capital allocation, cost management, risk management, financial systems, accounting, tax, and investor communications. Earlier in his career, Mr. Trpik was a Senior Manager at PwC.

Larry Bekkedahl, Senior Vice President, Advanced Energy Delivery

Larry Bekkedahl is responsible for advancing PGE's strategy to build a resilient, smart, and clean grid of the future. This includes overseeing strategic system architecture, upgrades, system integration and operations, distributed energy resources, and energy storage. Mr. Bekkedahl joined PGE in 2014 as Vice President of Transmission & Distribution. He has four decades of leadership experience in the energy industry, having previously held senior leadership positions at Bonneville Power Administration, Clark Public Utilities, PacifiCorp, and Montana Power Company. His experience also includes international utility exchange programs and generation development in Southeast Asia.

Benjamin Felton, Chief Operating Officer

Benjamin Felton joined Portland General Electric in 2023 and brings over 30 years of experience in the energy industry. He has held various senior leadership positions, including Senior Vice President of Energy Supply at DTE, Senior Vice President of Electric Operations and Vice President of Power Delivery at NIPSCO (a subsidiary of NiSource), and Executive Director of Electric Systems Operations and Maintenance at Consumers Energy.

John Kochavatr, Vice President of Information Technology and Chief Information Officer

John Kochavatr is responsible for PGE's information systems and for advancing operational effectiveness through the use of technology. He joined PGE in 2018. Prior to joining PGE, Mr. Kochavatr served as Senior Vice President and CIO at SUEZ Water Technologies & Solutions. He also held several CIO and global leadership roles at General Electric (GE) across its Infrastructure, Power, Aviation, Oil & Gas, and Capital divisions.

AI Analysis | Feedback

The key risks to Portland General Electric (POR) are primarily associated with the inherent nature of being an electric utility operating in the Pacific Northwest, involving significant environmental and regulatory exposures.

  1. Wildfire Risk: Portland General Electric faces significant financial and operational risks associated with wildfires. S&P Global Ratings has specifically revised PGE's business risk profile due to elevated wildfire risks, ongoing litigation uncertainties, and the current lack of comprehensive credit-supportive legislative or regulatory reforms concerning utility wildfire damages in Oregon. The company's service territory includes areas identified as high-risk fire zones, and while PGE invests in mitigation efforts, catastrophic wildfires could lead to substantial liabilities, increased costs, and disruptions to operations.

  2. Regulatory and Compliance Risks: As a regulated electric utility, Portland General Electric's financial performance and operations are heavily influenced by extensive federal and state regulations, particularly those set by the Oregon Public Utility Commission (OPUC). Changes in regulatory requirements, including those impacting cost recovery or allowed rates of return, can adversely affect the company's profitability and investment plans. Furthermore, failures in environmental compliance, such as issues related to wastewater discharge from facilities like Coyote Springs, can lead to federal class-action lawsuits, significant remediation costs, additional penalties, and reputational damage.

  3. Climate Change Impacts and Extreme Weather Events: Beyond wildfires, Portland General Electric is exposed to broader physical risks stemming from climate change, which can significantly impact its electricity systems and infrastructure. These include changing precipitation patterns affecting hydroelectric generation, rising average and extreme temperatures increasing energy demand and stressing infrastructure, and increased frequency and intensity of extreme weather events like storms and flooding. Such climate-driven hazards can lead to disruptions in generation and transmission, require substantial investments in grid resilience and adaptation measures, and influence demand patterns.

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The proliferation of Distributed Energy Resources (DERs), such as customer-sited rooftop solar panels and increasingly affordable battery energy storage systems, represents a clear emerging threat. These technologies empower residential, commercial, and industrial customers to generate and store their own electricity, significantly reducing their reliance on purchasing power from Portland General Electric. This trend directly impacts the utility's retail electricity sales, demand for grid services, and long-term revenue streams, challenging the traditional centralized utility business model by providing customers with alternative, self-sufficient energy solutions.

The accelerating development and adoption of microgrids pose another significant emerging threat. Microgrids are localized energy grids capable of operating autonomously from the main utility grid. Should this trend gain momentum, large industrial customers, commercial campuses, or even entire communities could opt to generate, distribute, and manage their own power supply, thereby reducing their dependency on Portland General Electric's centralized transmission and distribution system. This could lead to a loss of significant customer segments and associated revenue for the utility.

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The addressable markets for Portland General Electric's (POR) main products and services are as follows:

  • Retail Sale of Electricity: The addressable market for the retail sale of electricity is the total electricity consumption in Oregon. In 2023, Oregonians consumed 60.3 million MWh of electricity.
  • Wholesale Purchase, Transmission, and Distribution of Electricity: The addressable market for these services is the Electric Power Transmission industry in Oregon. This market is projected to be $7.1 billion in 2026.
  • Wholesale Natural Gas Sales: The addressable market for wholesale natural gas sales spans the United States and Canada (North America). The North America Natural Gas Market was valued at approximately $435.26 billion in 2024 and is projected to reach $622.63 billion by 2030.

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Portland General Electric (POR) anticipates several key drivers of future revenue growth over the next 2-3 years, primarily stemming from increased energy demand, strategic acquisitions, and significant infrastructure investments.

  1. Robust Industrial Load Growth, Particularly from Data Centers and High-Tech Customers: Portland General Electric expects continued strong demand from industrial customers, especially within the high-tech and data center sectors. The company reported a 14% industrial load growth in 2025 compared to 2024, driven by these customers. PGE has executed new contracts with data center customers totaling 430 megawatts in late 2025 and early 2026, and forecasts industrial demand to continue growing at a 10% compound annual growth rate through 2030. Overall weather-adjusted load growth for 2025 was about 5%, with 2026 weather-adjusted load growth guidance set between 2.5% and 3.5%, and long-term load growth guidance of 3% through 2030.
  2. Acquisition and Expansion into Washington State: Portland General Electric has announced the acquisition of PacifiCorp's Washington state utility operations and select assets for $1.9 billion. This acquisition is expected to expand PGE's overall portfolio by approximately 18% and add approximately 140,000 new customers in Washington. Management expects this acquisition to be accretive to earnings in the first year after completion, supporting continued growth and broadening growth opportunities across the Pacific Northwest.
  3. Significant Capital Investments in Transmission, Distribution, and Clean Energy: The company plans substantial capital expenditures to modernize its grid, enhance reliability, and expand its clean energy portfolio. Between 2025 and 2029, PGE intends to invest $6,475 million in its power sector, including $1,820 million for transmission and $3,030 million for distribution. These investments also include procuring resources to meet forecasted capacity needs and progress towards decarbonization targets, such as constructing two solar and battery hybrid projects totaling 615 MW. These capital deployments support customer growth and the integration of renewable and non-emitting dispatchable capacity, contributing to a growing rate base and, consequently, revenue.
  4. General Customer Growth and Increased Energy Deliveries: Beyond industrial demand, PGE continues to see overall customer growth in its service area. The residential customer count increased by 1.3% in 2025. Coupled with ongoing load growth, this expansion in the customer base and the associated increase in energy deliveries are expected to drive revenue upwards.

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Share Repurchases

No information available on share repurchases or authorized share repurchase programs for Portland General Electric within the last 3-5 years.

Share Issuance

  • In February 2026, Portland General Electric commenced an underwritten public offering of $480 million of common stock, with an option for underwriters to purchase an additional $70 million, primarily through forward sale agreements.
  • A follow-on common stock offering of approximately 9.5 million shares, valued at roughly $480 million, was completed in February 2026.
  • In September 2025, the company filed an automatic shelf registration to offer over 2.4 million shares under its Dividend Reinvestment and Direct Stock Purchase Plan, providing flexibility for future capital raising.

Inbound Investments

  • Manulife Investment Management, including affiliates like John Hancock Life Insurance Company (USA), is partnering with Portland General Electric as a minority owner in the acquisition of PacifiCorp's Washington utility business, with Manulife expected to contribute up to $600 million in equity.

Outbound Investments

  • In February 2026, Portland General Electric agreed to acquire select Washington state generation, transmission, and electric utility operations from PacifiCorp for $1.9 billion in cash.
  • The acquisition of PacifiCorp's assets includes three generation facilities (Chehalis natural-gas plant, Goodnoe Hills wind facility, and Marengo I and II wind facilities) and 4,500 miles of transmission and distribution lines.
  • The company also reached agreements to construct two solar and battery hybrid projects totaling 615 MW, with 425 MW being company-owned.

Capital Expenditures

  • Portland General Electric's capital expenditures averaged $1.043 billion annually from fiscal years 2021 to 2025, with a peak of $1.358 billion in 2023.
  • The company forecasts capital expenditures of $1.655 billion for 2026.
  • For the period between 2025 and 2029, Portland General Electric plans to invest $6.475 billion in its power sector businesses, with significant portions allocated to transmission ($1.82 billion) and distribution ($3.03 billion) infrastructure, focusing on grid resilience, clean energy, and meeting increased customer demand.

Better Bets vs. Portland General Electric (POR)

Peer Outperformance in Electric Utilities

POR has trailed 85% of its 20 Electric Utilities peers over 5Y. Among the peers that beat it are VST, AEP and FE. Electric Utilities ranks 3rd of 4 industries in Utilities by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Electric Utilities constituents that POR has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
81%
of 21 industry peers · 7.8% return
3Y
24%
of 21 industry peers · 31.9% return
5Y
15%
of 20 industry peers · 17.0% return
Electric Utilities peers with revenue growth within 4pp of POR's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
POR Portland General Electric 7.9% 20.2x 7.8%31.9%17.0% —
VST Vistra 6.7% 21.2x -30.2%340.7%803.7% +787pp
AEP American Electric Power 5.5% 20.7x 9.5%85.7%76.1% +59pp
FE FirstEnergy 7.2% 23.1x -1.8%50.8%48.3% +31pp
DUK Duke Energy 4.6% 16.9x -3.8%49.0%40.1% +23pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Utilities sector, ranked by 5Y. Electric Utilities is POR's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Gas Utilities 9 -2.1%52.9%43.3% ATO 99% · NJR 73% · NFG 64%
Multi-Utilities 17 -0.3%53.5%43.2% NI 91% · MDU 90% · ED 72%
Electric Utilities ← 21 -3.0%47.9%39.3% VST 804% · ETR 143% · OTTR 78%
Water Utilities 6 3.7%13.2%-8.0% AWR 6% · HTO 4% · WTRG -2%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

PORAVAIDANWEPCGSREMedian
NamePortland.Avista Idacorp NorthWes.PG&E Sempra  
Mkt Price44.7635.23131.9368.5312.1378.0456.64
Mkt Cap5.22.97.44.226.751.06.3
Rev LTM3,5341,9191,8031,69125,83713,5522,726
Op Inc LTM4973604103195,1673,459454
FCF LTM-189-104-973-192-4,263-5,243-583
FCF 3Y Avg-405-73-566-151-3,713-4,186-486
CFO LTM1,0395464804168,1475,416792
CFO 3Y Avg8874945454107,4585,023716

Growth & Margins

PORAVAIDANWEPCGSREMedian
NamePortland.Avista Idacorp NorthWes.PG&E Sempra  
Rev Chg LTM1.3%-1.8%-0.4%10.7%5.7%1.6%1.5%
Rev Chg 3Y Avg7.9%3.8%0.4%4.1%5.2%-6.7%3.9%
Rev Chg Q0.9%0.5%4.2%14.6%0.1%-0.1%0.7%
QoQ Delta Rev Chg LTM0.2%0.1%1.1%3.0%0.0%-0.0%0.2%
Op Inc Chg LTM-4.4%8.1%24.1%-7.7%13.3%14.0%10.7%
Op Inc Chg 3Y Avg10.4%22.0%7.6%5.8%39.9%1.9%9.0%
Op Mgn LTM14.1%18.8%22.8%18.8%20.0%25.5%19.4%
Op Mgn 3Y Avg14.6%17.1%19.4%21.1%18.3%22.9%18.9%
QoQ Delta Op Mgn LTM0.1%-0.2%1.4%-0.4%0.4%1.8%0.3%
CFO/Rev LTM29.4%28.5%26.6%24.6%31.5%40.0%28.9%
CFO/Rev 3Y Avg25.8%25.6%30.1%26.3%29.8%37.3%28.1%
FCF/Rev LTM-5.3%-5.4%-54.0%-11.4%-16.5%-38.7%-13.9%
FCF/Rev 3Y Avg-12.2%-3.8%-31.3%-9.6%-14.8%-31.1%-13.5%

Valuation

PORAVAIDANWEPCGSREMedian
NamePortland.Avista Idacorp NorthWes.PG&E Sempra  
Mkt Cap5.22.97.44.226.751.06.3
P/S1.51.54.12.51.03.82.0
P/Op Inc10.48.117.913.25.214.811.8
P/EBIT9.67.613.612.64.616.311.1
P/E20.212.921.724.68.422.420.9
P/CFO5.05.415.310.13.39.47.4
Total Yield9.5%13.3%7.2%7.9%13.0%7.7%8.7%
Dividend Yield4.6%5.5%2.6%3.9%1.2%3.2%3.5%
FCF Yield 3Y Avg-8.7%-2.3%-8.4%-4.2%-10.4%-7.9%-8.1%
D/E1.01.10.50.92.40.70.9
Net D/E1.01.10.50.92.40.70.9

Returns

PORAVAIDANWEPCGSREMedian
NamePortland.Avista Idacorp NorthWes.PG&E Sempra  
1M Rtn-7.7%-6.4%-3.3%-2.0%-13.4%-6.6%-6.5%
3M Rtn-14.1%-13.8%-14.1%-3.0%-28.6%-15.4%-14.1%
6M Rtn-14.7%-12.6%-7.4%3.3%-31.3%-20.1%-13.7%
12M Rtn7.8%-0.7%2.9%23.8%-21.5%-9.9%1.1%
3Y Rtn31.9%31.9%61.3%67.8%-18.6%31.4%31.9%
1M Excs Rtn-8.1%-6.9%-3.7%-2.4%-13.8%-7.1%-7.0%
3M Excs Rtn-16.5%-16.3%-16.6%-5.5%-31.0%-17.9%-16.5%
6M Excs Rtn-30.4%-27.9%-23.7%-11.5%-47.7%-35.2%-29.1%
12M Excs Rtn-8.3%-16.9%-12.2%6.9%-33.1%-24.6%-14.6%
3Y Excs Rtn-58.5%-54.3%-28.3%-19.6%-104.5%-55.5%-54.9%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Generation, transmission, distribution, and retail sale of electricity3,5763,4402,9232,6472,396
Total3,5763,4402,9232,6472,396


Operating Income by Segment
$ Mil202520242023
Generation, transmission, distribution, and retail sale of electricity555512396
Total555512396


Net Income by Segment
$ Mil202520242023
Generation, transmission, distribution, and retail sale of electricity306313228
Total306313228


Assets by Segment
$ Mil202520242023
Generation, transmission, distribution, and retail sale of electricity13,23012,54411,208
Total13,23012,54411,208


Price Behavior

Price Behavior
Market Price$44.76 
Market Cap ($ Bil)5.2 
First Trading Date03/31/2006 
Distance from 52W High-15.6% 
   50 Days200 Days
DMA Price$48.31$49.31
DMA Trendindeterminatedown
Distance from DMA-7.3%-9.2%
 3M1YR
Volatility20.0%19.4%
Downside Capture91.12-10.58
Upside Capture-3.200.05
Correlation (SPY)18.7%-1.2%
POR Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta0.690.660.360.01-0.020.21
Up Beta-0.370.090.260.020.080.28
Down Beta2.230.740.910.07-0.010.14
Up Capture22%49%-4%-12%-0%6%
Bmk +ve Days6162766132424
Stock +ve Days9202860132390
Down Capture162%147%80%25%-15%35%
Bmk -ve Days16263760120328
Stock -ve Days13223666120361

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with POR
POR6.3%19.4%0.19-
Sector ETF (XLU)-7.1%15.3%-0.6962.4%
Equity (SPY)15.7%13.0%0.85-1.3%
Gold (GLD)7.7%29.6%0.258.3%
Commodities (DBC)43.7%20.8%1.64-11.6%
Real Estate (VNQ)1.2%13.6%-0.1642.8%
Bitcoin (BTCUSD)-27.0%44.5%-0.58-10.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with POR
POR2.6%20.9%0.05-
Sector ETF (XLU)7.0%17.4%0.2673.2%
Equity (SPY)13.0%17.2%0.5729.0%
Gold (GLD)18.6%18.9%0.8014.0%
Commodities (DBC)10.3%19.6%0.401.6%
Real Estate (VNQ)0.4%18.9%-0.0856.1%
Bitcoin (BTCUSD)13.2%52.3%0.437.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with POR
POR4.1%24.1%0.17-
Sector ETF (XLU)7.9%19.2%0.3480.0%
Equity (SPY)15.3%17.9%0.7244.0%
Gold (GLD)11.6%16.4%0.5812.6%
Commodities (DBC)8.2%18.1%0.379.3%
Real Estate (VNQ)4.4%20.7%0.1763.2%
Bitcoin (BTCUSD)63.9%66.2%1.049.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9152026
Short Interest: Shares Quantity6.4 Mil
Short Interest: % Change Since 83120265.6%
Average Daily Volume0.8 Mil
Days-to-Cover Short Interest8.0 days
Basic Shares Quantity115.7 Mil
Short % of Basic Shares5.6%

Earnings Returns History

Updated 9/2/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/31/2026-1.5%-3.1%-1.0%
5/1/2026-4.2%-6.4%-6.7%
2/17/2026-2.7%-0.6%-0.9%
10/31/2025-0.3%4.3%8.1%
7/25/20254.2%3.5%8.4%
4/25/2025-3.8%-3.3%-2.3%
2/14/2025-1.1%5.3%6.3%
10/25/2024-1.0%-2.9%-2.5%
...
SUMMARY STATS   
# Positive81514
# Negative16910
Median Positive1.8%2.3%5.4%
Median Negative-1.0%-2.9%-3.6%
Max Positive4.2%5.3%13.7%
Max Negative-4.3%-9.3%-8.3%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/31/2026-1.5%-3.1%-1.0%
5/1/2026-4.2%-6.4%-6.7%
2/17/2026-2.7%-0.6%-0.9%
10/31/2025-0.3%4.3%8.1%
7/25/20254.2%3.5%8.4%
4/25/2025-3.8%-3.3%-2.3%
2/14/2025-1.1%5.3%6.3%
10/25/2024-1.0%-2.9%-2.5%
7/26/2024-0.9%0.2%-0.3%
4/26/2024-1.0%0.5%1.1%
2/16/20240.2%1.6%0.5%
10/27/2023-2.6%2.3%1.7%
7/28/2023-0.7%-2.2%-8.3%
4/28/2023-1.1%-1.2%-5.6%
2/16/20232.3%2.7%2.2%
10/25/20222.1%2.7%9.5%
7/28/20222.0%3.9%6.4%
4/28/2022-4.3%-9.3%-6.5%
2/17/2022-0.3%-2.2%6.7%
10/29/20211.6%1.4%3.6%
7/30/2021-0.5%1.3%3.2%
4/30/20211.2%0.1%-4.6%
2/19/20210.0%2.3%13.7%
10/30/2020-0.8%4.0%4.5%
SUMMARY STATS   
# Positive81514
# Negative16910
Median Positive1.8%2.3%5.4%
Median Negative-1.0%-2.9%-3.6%
Max Positive4.2%5.3%13.7%
Max Negative-4.3%-9.3%-8.3%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202607/31/202610-Q
03/31/202605/01/202610-Q
12/31/202502/17/202610-K
09/30/202510/31/202510-Q
06/30/202507/25/202510-Q
03/31/202504/25/202510-Q
12/31/202402/14/202510-K
09/30/202410/25/202410-Q
06/30/202407/26/202410-Q
03/31/202404/26/202410-Q
12/31/202302/20/202410-K
09/30/202310/27/202310-Q
06/30/202307/28/202310-Q
03/31/202304/28/202310-Q
12/31/202202/16/202310-K
09/30/202210/25/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202607/31/202610-Q
03/31/202605/01/202610-Q
12/31/202502/17/202610-K
09/30/202510/31/202510-Q
06/30/202507/25/202510-Q
03/31/202504/25/202510-Q
12/31/202402/14/202510-K
09/30/202410/25/202410-Q
06/30/202407/26/202410-Q
03/31/202404/26/202410-Q
12/31/202302/20/202410-K
09/30/202310/27/202310-Q
06/30/202307/28/202310-Q
03/31/202304/28/202310-Q
12/31/202202/16/202310-K
09/30/202210/25/202210-Q
06/30/202207/28/202210-Q
03/31/202204/28/202210-Q
12/31/202102/17/202210-K
09/30/202110/29/202110-Q
06/30/202107/30/202110-Q
03/31/202104/30/202110-Q
12/31/202002/19/202110-K
09/30/202010/30/202010-Q
06/30/202007/31/202010-Q
03/31/202004/24/202010-Q
12/31/201902/14/202010-K
09/30/201911/01/201910-Q

Recent Forward Guidance

Updated 9/28/2026

Latest: Q2 2026 Earnings Reported 7/31/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Energy Deliveries GrowthReported1.5%2.0%2.5% 0.0%AffirmedGuidance: 2.0% for 2026
2026 Depreciation and Amortization ExpenseReported570.00 Mil580.00 Mil590.00 Mil0.0% AffirmedGuidance: 580.00 Mil for 2026
2026 Cash from OperationsReported1.00 Bil1.10 Bil1.20 Bil0.0% AffirmedGuidance: 1.10 Bil for 2026
2026 Average Construction Work in Progress BalanceReported 780.00 Mil -6.0% LoweredGuidance: 830.00 Mil for 2026
2026 Operating and Maintenance ExpenseReported810.00 Mil820.00 Mil830.00 Mil0.0% AffirmedGuidance: 820.00 Mil for 2026
2026 Effective Tax RateReported15.0%17.5%20.0% 0.0%AffirmedGuidance: 17.5% for 2026
2026 Adjusted EPSReported3.333.433.530.0% AffirmedGuidance: 3.43 for 2026
2026 Capital ExpendituresReported 1.66 Bil 0.0% AffirmedGuidance: 1.66 Bil for 2026


Prior: Q1 2026 Earnings Reported 5/1/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Energy Deliveries GrowthReported1.5%2.0%2.5% -1.0%LoweredGuidance: 3.0% for 2026
2026 Depreciation and Amortization ExpenseReported570.00 Mil580.00 Mil590.00 Mil1.8% RaisedGuidance: 570.00 Mil for 2026
2026 Cash from OperationsReported1.00 Bil1.10 Bil1.20 Bil0.0% AffirmedGuidance: 1.10 Bil for 2026
2026 Average Construction Work in Progress BalanceReported 830.00 Mil -2.4% LoweredGuidance: 850.00 Mil for 2026
2026 Operating and Maintenance ExpenseReported810.00 Mil820.00 Mil830.00 Mil-1.2% LoweredGuidance: 830.00 Mil for 2026
2026 Effective Tax RateReported15.0%17.5%20.0% 0.0%AffirmedGuidance: 17.5% for 2026
2026 Adjusted EPSReported3.333.433.530.0% AffirmedGuidance: 3.43 for 2026
2026 Capital ExpendituresReported 1.66 Bil 0.0% AffirmedGuidance: 1.66 Bil for 2026

Q4 2025 Earnings Reported 2/17/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Energy Deliveries GrowthReported2.5%3.0%3.5% -1.0%Lower NewGuidance: 4.0% for 2025
2026 Depreciation and Amortization ExpenseReported560.00 Mil570.00 Mil580.00 Mil1.3% Higher NewGuidance: 562.50 Mil for 2025
2026 Cash from OperationsReported1.00 Bil1.10 Bil1.20 Bil10.0% Higher NewGuidance: 1.00 Bil for 2025
2026 Average Construction Work in ProgressReported 850.00 Mil    
2026 Operating and Maintenance ExpenseReported820.00 Mil830.00 Mil840.00 Mil1.2% Higher NewGuidance: 820.00 Mil for 2025
2026 Effective Tax RateReported15.0%17.5%20.0% 0.0%Same NewGuidance: 17.5% for 2025
2026 Adjusted EPSReported3.333.433.536.2% Higher NewGuidance: 3.23 for 2025
2026 Long-term EPS GrowthReported5.0%6.0%7.0% 0.0%Affirmed
2026 Capital ExpendituresReported 1.66 Bil 35.7% Higher NewGuidance: 1.22 Bil for 2025

Q3 2025 Earnings Reported 10/31/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2025 Energy Deliveries GrowthReported3.5%4.0%4.5% 1.0%RaisedGuidance: 3.0% for 2025
2025 Depreciation and Amortization ExpenseReported550.00 Mil562.50 Mil575.00 Mil0 AffirmedGuidance: 562.50 Mil for 2025
2025 Cash from OperationsReported950.00 Mil1.00 Bil1.05 Bil5.3% RaisedGuidance: 950.00 Mil for 2025
2025 Operating and Maintenance ExpenseReported810.00 Mil820.00 Mil830.00 Mil1.9% RaisedGuidance: 805.00 Mil for 2025
2025 Effective Tax RateReported15.0%17.5%20.0% 0AffirmedGuidance: 17.5% for 2025
2025 Adjusted EPSReported3.133.233.330 AffirmedGuidance: 3.23 for 2025
2025 Capital ExpendituresReported 1.22 Bil 0.4% RaisedGuidance: 1.22 Bil for 2025

Insider Activity

Updated 7/28/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Lewis, Michael A DirectSell728202651.831,53779,663779,782Form
2McFarland, John CarterSVP, Commercial & CustomerDirectSell512202648.522,390115,962956,763Form
3Hoglund, Robert N DirectBuy512202648.802,00097,600122,927Form
4Gallegos, Juan DiegoVP, CHRODirectSell512202648.672,750133,856590,282Form
5Espinosa, Maria AngelicaSVP, CLO, CCA & CC OfficerDirectSell508202648.814,300209,8831,199,896Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Lewis, Michael A DirectSell728202651.831,53779,663779,782Form
2McFarland, John CarterSVP, Commercial & CustomerDirectSell512202648.522,390115,962956,763Form
3Hoglund, Robert N DirectBuy512202648.802,00097,600122,927Form
4Gallegos, Juan DiegoVP, CHRODirectSell512202648.672,750133,856590,282Form
5Espinosa, Maria AngelicaSVP, CLO, CCA & CC OfficerDirectSell508202648.814,300209,8831,199,896Form
6Trpik, Joseph R JRSVP, CFODirectSell508202649.037,500367,7281,563,921Form
7Felton, BenjaminEVP, COODirectSell303202653.564,969266,1402,200,298Form
8Pope, Maria MPresident and CEODirectSell911202542.5018,896803,0808,250,738Form
9Bekkedahl, Larry NealSr. Vice PresidentDirectSell826202543.002,00086,0001,447,810Form
10McFarland, John CarterVice PresidentDirectSell807202542.342,19092,725881,476Form
11Trpik, Joseph R JRSVP, Finance CFODirectSell804202541.352,603107,6341,120,130Form
12Kochavatr, John TeerukVice President, CIODirectSell801202541.156,000246,9001,012,660Form
13Lewis, Michael ADirectSell722202540.101,93777,674541,711Form

Investor Activity (13F)

Updated Oct 2, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Nuance Investments, LLC$6.8 Mil0.9%43TRIM -58.1%13F
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQAs OfFiling
ATLAS Infrastructure Partners (UK) Ltd.$93.0 Mil4.7%9ExitedDec 31, 202513F
Redwood Grove Capital, LLC$15.2 Mil4.3%22ExitedDec 31, 202513F
Nuance Investments, LLC$6.8 Mil0.9%43TRIM -58.1%Mar 31, 202613F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Nuance Investments, LLC$6.8 Mil0.9%43TRIM -58.1%13F
Core Cache Last Updated: 10/1/2026