Portland General Electric Co

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.