Northwest Natural (NYSE:NWN) Announces Quarterly Earnings Results

Northwest Natural (NYSE:NWNGet Rating) issued its earnings results on Thursday. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.09, Briefing.com reports. The business had revenue of $194.96 million during the quarter, compared to analyst estimates of $157.21 million. Northwest Natural had a return on equity of 8.07% and a net margin of 8.43%. Northwest Natural’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.02) earnings per share.

Northwest Natural Trading Down 1.6 %

Shares of Northwest Natural stock traded down $0.85 during midday trading on Friday, reaching $52.56. 196,340 shares of the company’s stock traded hands, compared to its average volume of 258,220. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.54 and a current ratio of 0.59. The company has a market cap of $1.80 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 4.93 and a beta of 0.45. The stock has a 50 day moving average of $53.11 and a 200-day moving average of $51.42. Northwest Natural has a 12 month low of $43.07 and a 12 month high of $57.63.

Northwest Natural Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 29th will be given a $0.482 dividend. The ex-dividend date is Thursday, July 28th. This represents a $1.93 annualized dividend and a yield of 3.67%. Northwest Natural’s payout ratio is currently 79.75%.

Wall Street Analyst Weigh In

Several analysts have issued reports on NWN shares. Royal Bank of Canada upped their target price on Northwest Natural from $49.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 14th. Bank of America upgraded Northwest Natural from an “underperform” rating to a “neutral” rating and set a $53.00 price objective for the company in a research report on Tuesday, May 24th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $53.60.

Insider Activity at Northwest Natural

In related news, CEO David Hugo Anderson sold 1,127 shares of the company’s stock in a transaction that occurred on Wednesday, June 22nd. The stock was sold at an average price of $52.44, for a total transaction of $59,099.88. Following the completion of the transaction, the chief executive officer now owns 125,675 shares in the company, valued at $6,590,397. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Northwest Natural

A number of hedge funds and other institutional investors have recently made changes to their positions in NWN. US Bancorp DE raised its holdings in Northwest Natural by 2.0% in the first quarter. US Bancorp DE now owns 11,286 shares of the utilities provider’s stock worth $584,000 after purchasing an additional 219 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Northwest Natural by 3.8% in the first quarter. PNC Financial Services Group Inc. now owns 11,560 shares of the utilities provider’s stock worth $598,000 after purchasing an additional 420 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Northwest Natural by 8.2% in the first quarter. Envestnet Asset Management Inc. now owns 5,581 shares of the utilities provider’s stock worth $289,000 after purchasing an additional 422 shares in the last quarter. Guardian Wealth Management Inc. raised its holdings in Northwest Natural by 12.1% in the first quarter. Guardian Wealth Management Inc. now owns 5,257 shares of the utilities provider’s stock worth $272,000 after purchasing an additional 568 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Northwest Natural by 20.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 6,526 shares of the utilities provider’s stock worth $338,000 after purchasing an additional 1,108 shares in the last quarter. Institutional investors own 64.11% of the company’s stock.

About Northwest Natural

(Get Rating)

Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, industrial, and transportation customers in Oregon and Southwest Washington. The company also operates 5.7 billion cubic feet of the Mist gas storage facility contracted to other utilities and third-party marketers; offers natural gas asset management services; and operates an appliance retail center.

Featured Stories

Earnings History for Northwest Natural (NYSE:NWN)

Receive News & Ratings for Northwest Natural Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northwest Natural and related companies with MarketBeat.com's FREE daily email newsletter.