Northwest Natural Gas (NYSE:NWN) Trading Up 6.3% After Strong Earnings

Northwest Natural Gas Company (NYSE:NWN) was up 6.3% during trading on Friday following a better than expected earnings announcement. The company traded as high as $53.44 and last traded at $53.44. Approximately 276,919 shares traded hands during trading, a decline of 3% from the average daily volume of 284,592 shares. The stock had previously closed at $50.27.

The utilities provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. The business had revenue of $394.16 million for the quarter, compared to analysts’ expectations of $419.36 million. Northwest Natural Gas had a net margin of 7.94% and a return on equity of 8.30%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.41 EPS.

Northwest Natural Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were paid a $1.97 dividend. The ex-dividend date was Friday, January 30th. This represents a $7.88 dividend on an annualized basis and a yield of 14.8%. This is an increase from Northwest Natural Gas’s previous quarterly dividend of $0.49. Northwest Natural Gas’s dividend payout ratio is currently 78.49%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. BTIG Research reissued a “buy” rating and set a $55.00 price objective on shares of Northwest Natural Gas in a report on Friday, January 30th. Stifel Nicolaus boosted their price target on shares of Northwest Natural Gas from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Northwest Natural Gas in a report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $51.33.

Hedge Funds Weigh In On Northwest Natural Gas

Large investors have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd purchased a new stake in Northwest Natural Gas during the third quarter valued at about $26,000. EverSource Wealth Advisors LLC increased its holdings in shares of Northwest Natural Gas by 77.4% in the second quarter. EverSource Wealth Advisors LLC now owns 807 shares of the utilities provider’s stock worth $32,000 after buying an additional 352 shares during the period. Larson Financial Group LLC lifted its stake in shares of Northwest Natural Gas by 104.3% in the 3rd quarter. Larson Financial Group LLC now owns 711 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 363 shares during the last quarter. Torren Management LLC purchased a new stake in Northwest Natural Gas during the 4th quarter valued at about $41,000. Finally, Hantz Financial Services Inc. boosted its holdings in Northwest Natural Gas by 44.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,143 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 351 shares during the period. Hedge funds and other institutional investors own 75.13% of the company’s stock.

Northwest Natural Gas Trading Up 6.1%

The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.43 and a current ratio of 0.59. The firm has a 50-day moving average of $47.65 and a 200-day moving average of $45.77. The firm has a market capitalization of $2.21 billion, a P/E ratio of 21.24 and a beta of 0.57.

Northwest Natural Gas Company Profile

Northwest Natural Gas (NYSE: NWN), commonly known as NW Natural, is a publicly traded energy utility primarily engaged in the distribution of natural gas to residential, commercial and industrial customers. Headquartered in Portland, Oregon, the company operates an extensive pipeline network spanning thousands of miles across Oregon and southwest Washington. Its core business activities include gas procurement, system operation and maintenance, safety inspections and customer service support.

Dating back to the mid-19th century, Northwest Natural traces its origins to the Portland Gas Light Company, which first illuminated Portland streets with manufactured gas in 1859.