Northwest Natural Gas Company (NWN) Receives Consensus Rating of “Hold” from Analysts
Shares of Northwest Natural Gas Company (NYSE:NWN) have been given an average rating of “Hold” by the six research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $62.00.
NWN has been the subject of a number of analyst reports. Zacks Investment Research upgraded Northwest Natural Gas from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Wednesday, August 30th. BidaskClub raised shares of Northwest Natural Gas from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. Finally, Sidoti reaffirmed a “buy” rating and issued a $75.00 price objective (up previously from $68.00) on shares of Northwest Natural Gas in a research report on Monday, June 19th.
Northwest Natural Gas (NYSE NWN) opened at 64.75 on Wednesday. The stock has a 50 day moving average price of $65.73 and a 200 day moving average price of $62.12. Northwest Natural Gas has a 52-week low of $53.50 and a 52-week high of $68.60. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 28.97 and a beta of 0.42.
Northwest Natural Gas (NYSE:NWN) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. Northwest Natural Gas had a return on equity of 7.51% and a net margin of 8.38%. The company had revenue of $136.24 million during the quarter, compared to analyst estimates of $78.51 million. During the same quarter in the prior year, the business earned $0.07 earnings per share. Northwest Natural Gas’s revenue was up 37.4% on a year-over-year basis. Analysts expect that Northwest Natural Gas will post $2.17 EPS for the current fiscal year.
In other Northwest Natural Gas news, VP Grant M. Yoshihara sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $66.03, for a total transaction of $132,060.00. Following the transaction, the vice president now owns 15,301 shares in the company, valued at approximately $1,010,325.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Hugo Anderson sold 8,000 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $66.97, for a total transaction of $535,760.00. Following the completion of the transaction, the chief executive officer now directly owns 71,484 shares of the company’s stock, valued at approximately $4,787,283.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,202 shares of company stock worth $879,666. Corporate insiders own 1.48% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its position in shares of Northwest Natural Gas by 2.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,063 shares of the utilities provider’s stock valued at $123,000 after acquiring an additional 40 shares during the period. D.A. Davidson & CO. lifted its position in Northwest Natural Gas by 61.0% during the 2nd quarter. D.A. Davidson & CO. now owns 2,111 shares of the utilities provider’s stock worth $126,000 after acquiring an additional 800 shares during the period. Sharkey Howes & Javer lifted its position in Northwest Natural Gas by 0.8% during the 2nd quarter. Sharkey Howes & Javer now owns 2,217 shares of the utilities provider’s stock worth $133,000 after acquiring an additional 17 shares during the period. Riverhead Capital Management LLC lifted its position in Northwest Natural Gas by 88.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,263 shares of the utilities provider’s stock worth $136,000 after acquiring an additional 1,063 shares during the period. Finally, Ameritas Investment Partners Inc. acquired a new stake in Northwest Natural Gas during the 1st quarter worth about $139,000. 63.32% of the stock is currently owned by hedge funds and other institutional investors.
Northwest Natural Gas Company Profile
Northwest Natural Gas Company (NW Natural) is engaged in the distribution of natural gas. The Company’s segments include Local Gas Distribution, Gas Storage and other. The Company maintains operations in Oregon, Washington and California and conducts businesses through NW Natural and its subsidiaries.
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