NYSE:POR

Stock Analysis Report

Portland General Electric

Executive Summary

Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon.


Snowflake Analysis

Established dividend payer and fair value.


Similar Companies

Share Price & News

How has Portland General Electric's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: POR's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-4.0%

POR

-7.6%

US Electric Utilities

-2.8%

US Market


1 Year Return

-10.7%

POR

-10.5%

US Electric Utilities

-15.9%

US Market

Return vs Industry: POR underperformed the US Electric Utilities industry which returned -5% over the past year.

Return vs Market: POR exceeded the US Market which returned -13.6% over the past year.


Shareholder returns

PORIndustryMarket
7 Day-4.0%-7.6%-2.8%
30 Day-20.6%-24.3%-18.8%
90 Day-15.7%-19.0%-24.0%
1 Year-7.9%-10.7%-7.7%-10.5%-14.2%-15.9%
3 Year13.0%3.1%11.2%0.6%9.9%2.8%
5 Year47.8%26.6%38.4%15.5%27.2%13.3%

Price Volatility Vs. Market

How volatile is Portland General Electric's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Portland General Electric undervalued compared to its fair value and its price relative to the market?

33.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: POR ($48.48) is trading below our estimate of fair value ($69.69)

Significantly Below Fair Value: POR is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: POR is poor value based on its PE Ratio (20.2x) compared to the Electric Utilities industry average (18.9x).

PE vs Market: POR is poor value based on its PE Ratio (20.2x) compared to the US market (12.9x).


Price to Earnings Growth Ratio

PEG Ratio: POR is poor value based on its PEG Ratio (4.3x)


Price to Book Ratio

PB vs Industry: POR is good value based on its PB Ratio (1.7x) compared to the US Electric Utilities industry average (1.8x).


Next Steps

Future Growth

How is Portland General Electric forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

4.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: POR's forecast earnings growth (4.7% per year) is above the savings rate (1.7%).

Earnings vs Market: POR's earnings (4.7% per year) are forecast to grow slower than the US market (12.3% per year).

High Growth Earnings: POR's earnings are forecast to grow, but not significantly.

Revenue vs Market: POR's revenue (2.3% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: POR's revenue (2.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: POR's Return on Equity is forecast to be low in 3 years time (8.7%).


Next Steps

Past Performance

How has Portland General Electric performed over the past 5 years?

4.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: POR has high quality earnings.

Growing Profit Margin: POR's current net profit margins (10.1%) are lower than last year (10.6%).


Past Earnings Growth Analysis

Earnings Trend: POR's earnings have grown by 4.7% per year over the past 5 years.

Accelerating Growth: POR's earnings growth over the past year (0.9%) is below its 5-year average (4.7% per year).

Earnings vs Industry: POR earnings growth over the past year (0.9%) underperformed the Electric Utilities industry 6%.


Return on Equity

High ROE: POR's Return on Equity (8.3%) is considered low.


Next Steps

Financial Health

How is Portland General Electric's financial position?


Financial Position Analysis

Short Term Liabilities: POR's short term assets ($500.0M) do not cover its short term liabilities ($519.0M).

Long Term Liabilities: POR's short term assets ($500.0M) do not cover its long term liabilities ($5.3B).


Debt to Equity History and Analysis

Debt Level: POR's debt to equity ratio (100.2%) is considered high.

Reducing Debt: POR's debt to equity ratio has reduced from 130.8% to 100.2% over the past 5 years.

Debt Coverage: POR's debt is well covered by operating cash flow (21%).

Interest Coverage: POR's interest payments on its debt are not well covered by EBIT (2.6x coverage).


Balance Sheet

Inventory Level: POR has a high level of physical assets or inventory.

Debt Coverage by Assets: POR's debt is not covered by short term assets (assets are 0.2x debt).


Next Steps

Dividend

What is Portland General Electric's current dividend yield, its reliability and sustainability?

3.33%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: POR's dividend (3.18%) is higher than the bottom 25% of dividend payers in the US market (2%).

High Dividend: POR's dividend (3.18%) is low compared to the top 25% of dividend payers in the US market (5.56%).


Stability and Growth of Payments

Stable Dividend: POR's dividends per share have been stable in the past 10 years.

Growing Dividend: POR's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (63.4%), POR's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: POR's dividends in 3 years are forecast to be covered by earnings (63.9% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.3yrs

Average management tenure


CEO

Maria Pope (54yo)

2.25s

Tenure

US$4,065,948

Compensation

Ms. Maria MacGregor Pope has been the President at Portland General Electric Company since October 2017 and has been its the Chief Executive Officer and a Director since January 1, 2018. Ms. Pope served as ...


CEO Compensation Analysis

Compensation vs Market: Maria's total compensation ($USD4.07M) is about average for companies of similar size in the US market ($USD5.63M).

Compensation vs Earnings: Maria's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Maria Pope
President2.25yrsUS$4.07m0.040% $1.6m
James Lobdell
Senior VP of Finance7.08yrsUS$1.74m0.060% $2.5m
John Kochavatr
VP of Information Technology & Chief Information Officer2.17yrsUS$867.78k0.0027% $111.0k
Lisa Kaner
VP, General Counsel & Corporate Compliance Officer2.75yrsUS$990.59k0.0062% $258.1k
John McFarland
VP of Customer Solutions & Chief Customer Officer1yrUS$1.05m0.0017% $70.4k
Kristin Stathis
Vice President of Operations Services0.92yrno data0.011% $441.6k
Christopher Liddle
Director of Investor Relations & Treasuryno datano datano data
Anne Mersereau
Vice President of Human Resources4.25yrsno data0.0061% $254.4k
Nora Arkonovich
Corporate Secretaryno datano datano data
Jardon Jaramillo
Controller & Assistant Treasurerno datano datano data

2.3yrs

Average Tenure

55yo

Average Age

Experienced Management: POR's management team is considered experienced (2.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Maria Pope
President2.25yrsUS$4.07m0.040% $1.6m
Kirby Dyess
Independent Director10.83yrsUS$209.03k0.024% $993.1k
Jack Davis
Independent Chairman of the Board6.5yrsUS$272.60k0.019% $766.9k
John Ballantine
Independent Director16.17yrsUS$196.85k0.028% $1.2m
Charles Shivery
Independent Director6.17yrsUS$208.10k0.015% $633.1k
Mark Ganz
Independent Director14.25yrsUS$196.85k0.026% $1.1m
Kathryn Jackson
Independent Director6yrsUS$196.85k0.015% $613.6k
M. Pelton
Independent Director14.25yrsUS$208.10k0.028% $1.2m
Neil Nelson
Independent Director13.5yrsUS$211.85k0.028% $1.1m
Rodney Brown
Independent Director13.17yrsUS$196.85k0.027% $1.1m

12.0yrs

Average Tenure

65yo

Average Age

Experienced Board: POR's board of directors are seasoned and experienced ( 12 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: POR insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Portland General Electric Company's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Portland General Electric Company
  • Ticker: POR
  • Exchange: NYSE
  • Founded: 1889
  • Industry: Electric Utilities
  • Sector: Utilities
  • Market Cap: US$4.143b
  • Shares outstanding: 89.46m
  • Website: https://www.portlandgeneral.com

Number of Employees


Location

  • Portland General Electric Company
  • 121 South West Salmon Street
  • Portland
  • Oregon
  • 97204
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PORNYSE (New York Stock Exchange)YesCommon StockUSUSDMar 2006
49PDB (Deutsche Boerse AG)YesCommon StockDEEURMar 2006

Biography

Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. The company operates seven thermal plants; seven hydroelectric plants; and two wind farms. As of December 31, 2019, it owned an electric transmission system consisting of 1,264 circuit miles, including 287 circuit miles of 500 kilovolt line, 423 circuit miles of 230 kilovolt line, and 554 miles of 115 kilovolt line. The company has 27,755 circuit miles of distribution lines. It also purchases and sells wholesale natural gas in the United States and Canada. The company serves approximately 895,000 residential, commercial, and industrial customers in 51 cities. Portland General Electric Company was founded in 1889 and is headquartered in Portland, Oregon. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/05 04:31
End of Day Share Price2020/04/03 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.