Northwest Natural (NYSE:NWN) Earns Neutral Rating from Analysts at Janney Montgomery Scott

Janney Montgomery Scott assumed coverage on shares of Northwest Natural (NYSE:NWNFree Report) in a research note published on Wednesday, Marketbeat.com reports. The brokerage issued a neutral rating and a $39.00 price target on the utilities provider’s stock.

A number of other brokerages also recently issued reports on NWN. StockNews.com started coverage on Northwest Natural in a research note on Thursday, October 5th. They issued a sell rating on the stock. Guggenheim dropped their price target on Northwest Natural from $42.00 to $37.00 in a research note on Monday, October 9th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, Northwest Natural has an average rating of Hold and an average price target of $45.20.

Read Our Latest Analysis on NWN

Northwest Natural Stock Performance

NYSE:NWN opened at $36.95 on Wednesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.70 and a current ratio of 0.86. Northwest Natural has a fifty-two week low of $35.72 and a fifty-two week high of $52.31. The company has a 50 day simple moving average of $38.42 and a two-hundred day simple moving average of $39.14. The company has a market capitalization of $1.36 billion, a PE ratio of 13.43, a P/E/G ratio of 3.60 and a beta of 0.58.

Northwest Natural (NYSE:NWNGet Free Report) last posted its quarterly earnings data on Friday, November 3rd. The utilities provider reported ($0.65) earnings per share for the quarter, topping the consensus estimate of ($0.67) by $0.02. The company had revenue of $141.50 million during the quarter, compared to analysts’ expectations of $127.35 million. Northwest Natural had a net margin of 7.98% and a return on equity of 7.96%. Northwest Natural’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.56) earnings per share. Research analysts anticipate that Northwest Natural will post 2.69 earnings per share for the current year.

Northwest Natural Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be paid a dividend of $0.488 per share. This represents a $1.95 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date is Tuesday, January 30th. Northwest Natural’s dividend payout ratio (DPR) is currently 70.91%.

Institutional Investors Weigh In On Northwest Natural

Hedge funds and other institutional investors have recently modified their holdings of the company. Brandywine Global Investment Management LLC acquired a new stake in Northwest Natural in the 2nd quarter valued at $10,258,000. BNP Paribas Arbitrage SNC increased its position in shares of Northwest Natural by 45.7% during the second quarter. BNP Paribas Arbitrage SNC now owns 44,023 shares of the utilities provider’s stock worth $1,895,000 after acquiring an additional 13,806 shares in the last quarter. Mesirow Institutional Investment Management Inc. raised its holdings in shares of Northwest Natural by 33.7% in the 2nd quarter. Mesirow Institutional Investment Management Inc. now owns 239,440 shares of the utilities provider’s stock worth $10,308,000 after acquiring an additional 60,391 shares during the last quarter. Mcmillion Capital Management Inc. bought a new position in Northwest Natural in the 2nd quarter valued at about $40,000. Finally, Ronald Blue Trust Inc. acquired a new position in Northwest Natural during the 3rd quarter valued at about $31,000. Institutional investors own 73.88% of the company’s stock.

Northwest Natural Company Profile

(Get Free Report)

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 operates 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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