Northwest Natural Gas (NWN) Cut to “Neutral” at Sidoti

Sidoti lowered shares of Northwest Natural Gas (NYSE:NWN) from a buy rating to a neutral rating in a research note issued to investors on Monday morning, Marketbeat reports. Sidoti currently has $63.00 price objective on the utilities provider’s stock.

Other equities research analysts have also issued research reports about the company. Guggenheim lowered Northwest Natural Gas from a neutral rating to a sell rating in a research note on Tuesday, January 2nd. Zacks Investment Research lowered Northwest Natural Gas from a buy rating to a hold rating in a research note on Friday, December 22nd. Royal Bank of Canada initiated coverage on Northwest Natural Gas in a research note on Tuesday, December 19th. They set a sector perform rating and a $63.00 price objective for the company. Finally, Wells Fargo & Co lowered Northwest Natural Gas from a market perform rating to an underperform rating in a research note on Monday, December 18th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $67.00.

Northwest Natural Gas (NYSE:NWN) traded down $0.75 during mid-day trading on Monday, hitting $57.45. The stock had a trading volume of 214,550 shares, compared to its average volume of 221,283. The company has a current ratio of 0.98, a quick ratio of 0.69 and a debt-to-equity ratio of 0.89. Northwest Natural Gas has a fifty-two week low of $56.53 and a fifty-two week high of $69.50. The firm has a market capitalization of $1,670.00, a price-to-earnings ratio of 26.11, a P/E/G ratio of 5.77 and a beta of 0.40.

Northwest Natural Gas (NYSE:NWN) last posted its earnings results on Friday, November 3rd. The utilities provider reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.01. Northwest Natural Gas had a return on equity of 7.31% and a net margin of 8.32%. The business had revenue of $88.20 million during the quarter, compared to analyst estimates of $91.19 million. During the same quarter last year, the firm earned $1.18 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. research analysts expect that Northwest Natural Gas will post 2.18 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its stake in Northwest Natural Gas by 2.0% during 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 purchasing an additional 40 shares in the last quarter. D.A. Davidson & CO. grew its stake 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 valued at $126,000 after purchasing an additional 800 shares in the last quarter. Riverhead Capital Management LLC grew its stake 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 valued at $136,000 after purchasing an additional 1,063 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in Northwest Natural Gas by 6.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,496 shares of the utilities provider’s stock valued at $149,000 after purchasing an additional 150 shares in the last quarter. Finally, Coldstream Capital Management Inc. acquired a new stake in Northwest Natural Gas during the 3rd quarter valued at approximately $208,000. Hedge funds and other institutional investors own 64.59% of the company’s stock.

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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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