Northwest Natural Gas (NYSE:NWN) Releases Quarterly Earnings Results

Northwest Natural Gas (NYSE:NWN) released its quarterly earnings results on Wednesday. The utilities provider reported $2.33 EPS for the quarter, missing the consensus estimate of $2.40 by ($0.07), Zacks reports. Northwest Natural Gas had a net margin of 8.79% and a return on equity of 8.24%. During the same quarter last year, the business earned $2.28 earnings per share. Northwest Natural Gas’s quarterly revenue was down .8% compared to the same quarter last year. Northwest Natural Gas updated its FY 2026 guidance to 2.950-3.150 EPS.

Here are the key takeaways from Northwest Natural Gas’ conference call:

• Reaffirmed guidance: Q1 adjusted EPS was $2.33 (vs. $2.28 prior year) and the company reaffirmed full-year 2026 EPS guidance of $2.95–$3.15 and its 4%–6% long?term EPS growth target (which would rise to 5%–7% if MX?3 receives notice to proceed).
• Regulatory progress is active but outcomes remain pending: a constructive multi?party settlement was filed in Washington (first?year revenue increase of $20.1M, ROE 9.5%, 50/50 capital structure), C Energy filed a Texas rate case seeking ~$12M of additional revenue and GRIP factors, and Oregon’s multi?year framework may not be resolved until 2027 while an alternative 1.5% rate mechanism was filed for Oct. 2026.
• MX?3 storage project: A $300M FERC?regulated expansion to add 4–5 BCF of capacity under 25?year contracts (NTP targeted by end of 2027, in?service 2029) is expected to materially boost long?term earnings once NTP is achieved.
• Strong growth in regulated platforms: C Energy delivered 16% organic customer growth with a backlog >250,000 meters and expects 15%–20% annual growth through 2030, while NW Natural Water grew customers 4.1% (organic 2.2%) and has ~10,000+ water connection backlog in Texas.
• Capital and funding plan: 2026 capex is expected at $500M–$550M funded by operating cash flow plus ~ $150M net long?term debt and $40M–$50M equity via ATM, with ~$590M liquidity on hand and a dividend policy targeting a 55%–65% payout ratio over time.

Northwest Natural Gas Trading Down 7.5%

Shares of NWN stock traded down $3.96 during mid-day trading on Wednesday, hitting $48.74. 446,044 shares of the company’s stock were exchanged, compared to its average volume of 189,199. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 17.53 and a beta of 0.47. The company has a quick ratio of 0.57, a current ratio of 0.72 and a debt-to-equity ratio of 1.54. Northwest Natural Gas has a fifty-two week low of $39.10 and a fifty-two week high of $55.99. The stock has a 50-day simple moving average of $52.93 and a two-hundred day simple moving average of $49.34.

Northwest Natural Gas Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 30th will be issued a dividend of $0.4925 per share. The ex-dividend date is Thursday, April 30th. This represents a $1.97 annualized dividend and a dividend yield of 4.0%. Northwest Natural Gas’s dividend payout ratio (DPR) is 70.86%.

Insiders Place Their Bets

In related news, VP David A. Weber sold 1,700 shares of the stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $52.57, for a total transaction of $89,369.00. Following the transaction, the vice president directly owned 149 shares in the company, valued at approximately $7,832.93. This represents a 91.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 1,704 shares of company stock worth $89,579 in the last quarter. Corporate insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC boosted its position in shares of Northwest Natural Gas by 104.3% in the third quarter. Larson Financial Group LLC now owns 711 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 363 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Northwest Natural Gas by 77.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 807 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 352 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of Northwest Natural Gas during the 4th quarter valued at $70,000. Osaic Holdings Inc. increased its holdings in shares of Northwest Natural Gas by 29.4% during the 2nd quarter. Osaic Holdings Inc. now owns 2,013 shares of the utilities provider’s stock worth $80,000 after buying an additional 457 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Northwest Natural Gas by 523.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,269 shares of the utilities provider’s stock worth $170,000 after buying an additional 3,584 shares during the last quarter. Institutional investors and hedge funds own 75.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Weiss Ratings raised Northwest Natural Gas from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Stifel Nicolaus boosted their price target on Northwest Natural Gas from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. TD Cowen initiated coverage on Northwest Natural Gas in a research report on Thursday, April 16th. They issued a “hold” rating and a $58.00 price objective on the stock. BTIG Research reaffirmed a “buy” rating and set a $55.00 price objective on shares of Northwest Natural Gas in a research note on Friday, January 30th. Finally, Freedom Capital upgraded Northwest Natural Gas to a “hold” rating in a research report on Thursday, April 30th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $54.50.

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.