Wall Street analysts expect that Northwest Natural Gas Company (NYSE:NWN) will announce ($0.32) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Northwest Natural Gas’ earnings. Northwest Natural Gas reported earnings per share of ($0.29) in the same quarter last year, which would suggest a negative year over year growth rate of 10.3%. The company is expected to announce its next quarterly earnings results before the market opens on Friday, November 3rd.
According to Zacks, analysts expect that Northwest Natural Gas will report full-year earnings of $2.17 per share for the current financial year, with EPS estimates ranging from $2.15 to $2.20. For the next fiscal year, analysts forecast that the firm will post earnings of $2.27 per share, with EPS estimates ranging from $2.18 to $2.30. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Northwest Natural Gas.
Northwest Natural Gas (NYSE:NWN) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.04. The business had revenue of $136.24 million during the quarter, compared to the consensus estimate of $78.51 million. Northwest Natural Gas had a net margin of 8.38% and a return on equity of 7.51%. The business’s quarterly revenue was up 37.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.07 earnings per share.
NWN has been the topic of a number of research reports. BidaskClub downgraded Northwest Natural Gas from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Zacks Investment Research downgraded Northwest Natural Gas from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $66.00.
In related news, Director Martha L. Byorum sold 1,202 shares of Northwest Natural Gas stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $64.88, for a total transaction of $77,985.76. Following the transaction, the director now directly owns 1,202 shares in the company, valued at $77,985.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Hugo Anderson sold 8,000 shares of Northwest Natural Gas stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $66.97, for a total value of $535,760.00. Following the transaction, the chief executive officer now owns 71,484 shares in the company, valued at $4,787,283.48. The disclosure for this sale can be found here. Insiders have sold 13,202 shares of company stock worth $879,666 over the last quarter. 1.48% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NWN. BlackRock Inc. lifted its position in Northwest Natural Gas by 12,672.6% during the first quarter. BlackRock Inc. now owns 3,607,352 shares of the utilities provider’s stock valued at $213,194,000 after purchasing an additional 3,579,109 shares in the last quarter. Vanguard Group Inc. lifted its position in Northwest Natural Gas by 4.7% during the first quarter. Vanguard Group Inc. now owns 2,703,884 shares of the utilities provider’s stock valued at $159,800,000 after purchasing an additional 120,458 shares in the last quarter. Renaissance Technologies LLC lifted its position in Northwest Natural Gas by 22.0% during the first quarter. Renaissance Technologies LLC now owns 404,900 shares of the utilities provider’s stock valued at $23,930,000 after purchasing an additional 73,000 shares in the last quarter. Asset Management One Co. Ltd. purchased a new position in Northwest Natural Gas during the first quarter valued at $3,180,000. Finally, First Trust Advisors LP lifted its position in Northwest Natural Gas by 13.9% during the second quarter. First Trust Advisors LP now owns 368,087 shares of the utilities provider’s stock valued at $22,030,000 after purchasing an additional 44,973 shares in the last quarter. Institutional investors own 63.32% of the company’s stock.
Northwest Natural Gas (NYSE:NWN) traded up 0.92% on Friday, reaching $65.75. 89,271 shares of the company’s stock were exchanged. Northwest Natural Gas has a 12 month low of $53.50 and a 12 month high of $68.60. The firm has a 50 day moving average of $65.81 and a 200 day moving average of $62.35. The stock has a market capitalization of $1.88 billion, a PE ratio of 29.42 and a beta of 0.42.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be given a dividend of $0.4725 per share. The ex-dividend date of this dividend is Monday, October 30th. This is an increase from Northwest Natural Gas’s previous quarterly dividend of $0.47. This represents a $1.89 annualized dividend and a yield of 2.87%. Northwest Natural Gas’s payout ratio is 85.07%.
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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