Northwest Natural (NYSE:NWN) Releases Earnings Results, Beats Expectations By $0.09 EPS

Northwest Natural (NYSE:NWNGet Rating) released its earnings results on Thursday. The utilities provider reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.09, Briefing.com reports. Northwest Natural had a net margin of 8.27% and a return on equity of 7.87%. The company had revenue of $194.96 million for the quarter, compared to analysts’ expectations of $157.21 million. During the same quarter in the previous year, the company earned ($0.02) EPS. Northwest Natural’s revenue for the quarter was up 30.9% on a year-over-year basis.

Northwest Natural Trading Down 1.6 %

NWN traded down $0.85 during trading hours on Friday, reaching $52.56. 196,340 shares of the company’s stock traded hands, compared to its average volume of 161,485. The firm has a 50-day moving average price of $53.11 and a 200 day moving average price of $51.42. Northwest Natural has a 52-week low of $43.07 and a 52-week high of $57.63. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $1.80 billion, a PE ratio of 21.11, a PEG ratio of 4.94 and a beta of 0.45.

Northwest Natural Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 29th will be issued a $0.482 dividend. This represents a $1.93 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend is Thursday, July 28th. Northwest Natural’s dividend payout ratio (DPR) is 77.51%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NWN. Royal Bank of Canada lifted their target price on shares of Northwest Natural from $49.00 to $50.00 and gave the company a “sector perform” rating in a research note on Thursday, April 14th. Bank of America upgraded shares of Northwest Natural from an “underperform” rating to a “neutral” rating and set a $53.00 price target on the stock in a research note on Tuesday, May 24th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.60.

Insider Buying and Selling at Northwest Natural

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

Institutional Investors Weigh In On Northwest Natural

Several institutional investors and hedge funds have recently added to or reduced their stakes in NWN. Captrust Financial Advisors increased its stake in Northwest Natural by 133.2% during the first quarter. Captrust Financial Advisors now owns 2,129 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 1,216 shares during the period. Cetera Advisor Networks LLC acquired a new position in Northwest Natural in the first quarter valued at $217,000. Quantbot Technologies LP increased its stake in shares of Northwest Natural by 110,550.0% during the first quarter. Quantbot Technologies LP now owns 4,426 shares of the utilities provider’s stock worth $228,000 after acquiring an additional 4,422 shares during the period. Guardian Wealth Management Inc. increased its stake in shares of Northwest Natural by 12.1% during the first quarter. Guardian Wealth Management Inc. now owns 5,257 shares of the utilities provider’s stock worth $272,000 after acquiring an additional 568 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of Northwest Natural by 8.2% during the first quarter. Envestnet Asset Management Inc. now owns 5,581 shares of the utilities provider’s stock worth $289,000 after acquiring an additional 422 shares during the period. Institutional investors and hedge funds own 64.11% of the company’s stock.

Northwest Natural Company Profile

(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.

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Earnings History for Northwest Natural (NYSE:NWN)

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