Portland General Electric Co

Portland General Electric began buying and selling energy through the California Independent System Operator's new Extended Day-Ahead Market, or EDAM, making it one of the first utilities to participate in the day-ahead market. PGE said participation could save its customers approximately $14 million annually once the market is fully built out, while also improving reliability and supporting greater use of renewable energy. The company has invested in technology and operational expertise at its Integrated Operations Center in Tualatin, Oregon, and since joining the Western Energy Imbalance Market in 2017 has generated approximately $377 million in cumulative benefits for customers. PGE's decision to join EDAM followed years of evaluating regional market options and active participation in EDAM's design, with studies commissioned by the company concluding EDAM offered greater economic benefits than alternative market options. Maria Pope, president and CEO of Portland General Electric, said early investments in advanced systems and regional collaboration have positioned the company to lead while staying focused on reliable service and affordability.

Portland General Electric reported second-quarter 2026 GAAP net income of $68 million, or $0.59 per diluted share, compared with $62 million, or $0.56 per diluted share, in the same period last year. Non-GAAP net income was $74 million, or $0.64 per diluted share, excluding $8 million in pre-tax business transformation and acquisition-related expenses. Management reaffirmed full-year 2026 adjusted earnings guidance of $3.33 to $3.53 per diluted share and weather-adjusted load growth guidance of 1.5% to 2.5%. Industrial energy deliveries rose 11.2% year-over-year, driven by demand from high-technology and data center customers, while residential and commercial deliveries decreased on a weather-adjusted basis. The company highlighted the approval of a New Large Load Tariff effective July 8, 2026, which raises average prices for data centers by 30% and lowers rates for other customers, and announced a proposed 4.8% overall increase in its 2027 general rate case filing, with a 3.9% increase for residential customers. Portland General Electric also declared a quarterly dividend of $0.55125 per share, a 5% annualized increase, and expects a final order on its proposed holding company structure by the end of August 2026.

Portland General Electric Company reported a second-quarter profit of $68 million, or $0.59 per share, up from $62 million, or $0.56 per share, in the same period last year. Excluding items, adjusted earnings were $74 million, or $0.64 per share. Revenue rose 0.9% to $814 million from $807 million a year earlier. The company issued full-year earnings per share guidance of $3.33 to $3.53.

Surging AI data center electricity demand is accelerating utility infrastructure spending and making high-yield utility stocks increasingly attractive for long-term investors. Avista offers a strong 4.64% dividend and holds a Weiss Ratings Buy rating. Brookfield Infrastructure Partners yields 4.64% and carries Morgan Stanley's Overweight rating with a $46 price target. Edison International pays a 4.37% dividend, has Barclays' Overweight rating and a $77 price objective, and is seen as a strong pick through 2026. Eversource Energy yields 4.06% with Wells Fargo's Overweight rating and a $76 target, while Portland General Electric pays 3.98% and has a BTIG Buy rating with a $58 target.

Portland General Electric shares trade in the low $50s with a quarterly dividend of $0.55 per share, yielding slightly above 4%. The utility's forward price-to-earnings ratio of about 14 sits well below the sector average of roughly 23. The company expanded into Washington state with its February acquisition of PacifiCorp's Washington-based utility operations and has raised dividends for more than a decade. Artificial intelligence-related power demand provides a growth catalyst for the $6 billion market-cap utility.