Northwest Natural Gas Company (NWN) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Northwest Natural Gas Company (NYSE:NWN) issued its quarterly earnings results on Friday. The utilities provider reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.01, Bloomberg Earnings reports. Northwest Natural Gas had a return on equity of 7.51% and a net margin of 8.38%. The company had revenue of $88.20 million for the quarter, compared to analysts’ expectations of $91.19 million. During the same period last year, the firm earned $1.18 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. Northwest Natural Gas updated its FY17 guidance to $2.05-2.25 EPS.
Shares of Northwest Natural Gas (NWN) opened at $66.65 on Friday. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 29.91, a price-to-earnings-growth ratio of 6.77 and a beta of 0.39. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.82 and a quick ratio of 0.57.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be paid a dividend of $0.4725 per share. The ex-dividend date is Monday, October 30th. This is a positive change from Northwest Natural Gas’s previous quarterly dividend of $0.47. This represents a $1.89 annualized dividend and a dividend yield of 2.84%. Northwest Natural Gas’s dividend payout ratio (DPR) is currently 85.52%.
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Several equities analysts have recently issued reports on NWN shares. BidaskClub cut Northwest Natural Gas from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Zacks Investment Research cut Northwest Natural Gas from a “buy” rating to a “hold” rating in a research report on Wednesday, September 13th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $66.00.
In other news, 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 sale, the chief executive officer now directly owns 71,484 shares of the company’s stock, valued at approximately $4,787,283.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Martha L. Byorum sold 1,202 shares of the firm’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $64.88, for a total value of $77,985.76. Following the sale, the director now directly owns 1,202 shares of the company’s stock, valued at $77,985.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,202 shares of company stock valued at $879,666. Corporate insiders own 1.48% of the company’s stock.
About Northwest Natural Gas
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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