Portland GE to Acquire PacifiCorp’s Washington Utility Assets

An announcement from Portland GE ( (POR) ) is now available.

On February 15, 2026, Portland General Electric agreed to acquire PacifiCorp’s Washington state electric utility operations and selected generation and grid assets for $1.9 billion, in a deal structured through a new subsidiary and financed with a mix of bridge and term debt and up to $600 million of equity from Manulife Investment Management. The transaction, which will add about 140,000 customers, 805 MW of gas and wind generation, and 4,500 miles of lines, is subject to extensive state and federal approvals, but PGE expects the Washington business to be accretive in its first full year and to bolster long-term EPS and dividend growth while expanding its regulated footprint in the Pacific Northwest.

PGE also reported full-year 2025 GAAP earnings of $2.77 per share and adjusted earnings of $3.05 per share, reflecting strong industrial demand—particularly from data centers and high-tech customers—partly offset by severe fourth-quarter weather. The utility outlined an aggressive build-out of solar and battery projects totaling 615 MW of largely company-owned capacity plus multiple long-duration storage contracts, initiated 2026 adjusted EPS guidance of $3.33 to $3.53, and highlighted robust data center growth that is shaping its resource procurement strategy and supporting its long-term growth outlook.

The most recent analyst rating on (POR) stock is a Hold with a $53.00 price target. To see the full list of analyst forecasts on Portland GE stock, see the POR Stock Forecast page.

Spark’s Take on POR Stock

According to Spark, TipRanks’ AI Analyst, POR is a Outperform.

Portland GE’s overall stock score reflects a stable financial performance with strong profitability and operational efficiency. The positive sentiment from the earnings call and recent corporate events, along with fair valuation, contribute to a favorable outlook. However, challenges in revenue growth and cash flow management, along with high leverage, require attention.

To see Spark’s full report on POR stock, click here.

More about Portland GE

Portland General Electric Company is a vertically integrated electric utility serving customers primarily in Oregon, with a growing focus on high-tech and data center loads and large-scale renewable and storage projects. The company develops, owns and procures generation, transmission and distribution assets, and targets 5% to 7% long-term earnings per share growth alongside a stable dividend profile.

Average Trading Volume: 1,029,263

Technical Sentiment Signal: Buy

Current Market Cap: $6.07B

For an in-depth examination of POR stock, go to TipRanks’ Overview page.