Northwest Natural Gas Company (NYSE:NWN) Stock Rated “Moderate Buy” by Sell-Side Analysts

Shares of Northwest Natural Gas Company (NYSE:NWN) have been given a consensus rating of “Moderate Buy” by the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $55.80.

A number of research analysts have commented on the company. Weiss Ratings upgraded Northwest Natural Gas from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 2nd. Wells Fargo & Company raised Northwest Natural Gas from an “underweight” rating to an “equal weight” rating and set a $50.00 price objective for the company in a research note on Thursday, August 6th. Finally, Huntington began coverage on Northwest Natural Gas in a report on Monday, September 14th. They issued an “outperform” rating and a $58.00 price objective on the stock.

Northwest Natural Gas Trading Up 0.3%

NYSE NWN opened at $48.87 on Thursday. The firm’s 50-day moving average is $48.91 and its two-hundred day moving average is $50.26. Northwest Natural Gas has a 12 month low of $44.18 and a 12 month high of $55.99. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.77 and a quick ratio of 0.55. The stock has a market capitalization of $2.06 billion, a P/E ratio of 16.25 and a beta of 0.40.

Northwest Natural Gas (NYSE:NWN) last announced its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. Northwest Natural Gas had a net margin of 9.75% and a return on equity of 8.33%. The business had revenue of $243.55 million during the quarter, compared to analysts’ expectations of $271.87 million. During the same period last year, the business earned $0.01 earnings per share. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, sell-side analysts anticipate that Northwest Natural Gas will post 3.04 earnings per share for the current year.

Northwest Natural Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be given a dividend of $0.50 per share. This is a boost from Northwest Natural Gas’s previous quarterly dividend of $0.4925. This represents a $2.00 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, October 30th. Northwest Natural Gas’s dividend payout ratio is currently 65.67%.

Insider Activity at Northwest Natural Gas

In other news, Director David Anderson sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $48.03, for a total value of $72,045.00. Following the completion of the transaction, the director owned 49,259 shares of the company’s stock, valued at approximately $2,365,909.77. This trade represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 4,500 shares of company stock valued at $225,105 over the last ninety days. Company insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On Northwest Natural Gas

A number of hedge funds have recently added to or reduced their stakes in NWN. Bessemer Group Inc. grew its stake in shares of Northwest Natural Gas by 0.5% during the first quarter. Bessemer Group Inc. now owns 67,961 shares of the utilities provider’s stock worth $3,617,000 after purchasing an additional 317 shares in the last quarter. Versant Capital Management Inc increased its holdings in Northwest Natural Gas by 197.5% in the second quarter. Versant Capital Management Inc now owns 723 shares of the utilities provider’s stock valued at $35,000 after buying an additional 480 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Northwest Natural Gas by 6.6% in the first quarter. PNC Financial Services Group Inc. now owns 11,335 shares of the utilities provider’s stock valued at $603,000 after buying an additional 702 shares in the last quarter. Cetera Investment Advisers raised its stake in Northwest Natural Gas by 1.1% in the first quarter. Cetera Investment Advisers now owns 65,321 shares of the utilities provider’s stock valued at $3,476,000 after buying an additional 713 shares in the last quarter. Finally, Cedar Mountain Advisors LLC raised its stake in Northwest Natural Gas by 30.6% in the first quarter. Cedar Mountain Advisors LLC now owns 3,793 shares of the utilities provider’s stock valued at $202,000 after buying an additional 889 shares in the last quarter. 75.13% of the stock is currently owned by institutional investors and hedge funds.

About Northwest Natural Gas

Northwest Natural Gas Company, doing business as NW Natural, is a regulated natural gas distribution utility serving residential, commercial, and industrial customers. The company delivers natural gas through its pipeline system and provides related services, including energy-efficiency programs, appliance services, and solutions designed to support safe and efficient natural gas use.

Founded in 1859, NW Natural has developed a long-standing presence in the Pacific Northwest. Its natural gas utility operations primarily serve communities in Oregon and southwest Washington.