11 Most Undervalued Utility Stocks to Buy Now

9. Portland General Electric Company (NYSE:POR)

Forward P/E: 15.10

On February 19, BMO Capital Markets analyst Edward DeArias raised the firm’s price target on Portland General Electric Company (NYSE:POR) to $55 from $53 and maintained a Market Perform rating. The $1.9 billion acquisition of PacifiCorp’s Washington utility assets is expected to provide modest valuation-year accretion and qualitative diversification benefits. However, BMO noted that the transaction further supports the justification for its holding company structure.

The same day, UBS raised its price target on Portland General Electric Company (NYSE:POR) to $55 from $53 and kept a Neutral rating.

On February 17, Portland General Electric Company (NYSE:POR) reported full-year 2025 GAAP net income of $306 million ($2.77 per diluted share) and non-GAAP net income of $336 million ($3.05 per diluted share), reflecting adjustments for transformation and optimization expenses. For 2026, PGE guided EPS of $3.33–$3.53 and weather-adjusted load growth of 2.5%–3.5%, while reaffirming long-term load growth of 3% through 2030 and 5%–7% long-term EPS and dividend growth. Year-end liquidity totaled $954 million, and 2025 CFO-to-debt exceeded 19%. The company anticipates a base equity need of $300 million in 2026, tapering to approximately $50 million in 2027, with total equity needs of roughly $350 million across 2026–2027 to fund 2023 RFP projects. An upsized $500 million ATM program and up to $350 million of debt issuance are expected in 2026.

Based in Portland, Oregon, Portland General Electric Company (NYSE:POR) generates, transmits, and distributes electricity serving nearly two-thirds of Oregon’s commercial and industrial activity.