Northwest Natural (NWN) Set to Announce Quarterly Earnings on Thursday

Northwest Natural (NYSE:NWNGet Rating) is scheduled to release its earnings data before the market opens on Thursday, August 4th. Analysts expect Northwest Natural to post earnings of ($0.06) per share for the quarter. Northwest Natural has set its FY22 guidance at $2.45-$2.65 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Northwest Natural (NYSE:NWNGet Rating) last issued its earnings results on Wednesday, May 4th. The utilities provider reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10). The company had revenue of $350.30 million for the quarter, compared to analyst estimates of $324.26 million. Northwest Natural had a return on equity of 8.07% and a net margin of 8.43%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.94 earnings per share. On average, analysts expect Northwest Natural to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Northwest Natural Trading Up 0.2 %

Shares of Northwest Natural stock opened at $53.15 on Thursday. The stock has a market cap of $1.82 billion, a P/E ratio of 21.96, a P/E/G ratio of 4.89 and a beta of 0.47. The stock’s 50 day simple moving average is $53.12 and its 200-day simple moving average is $51.20. Northwest Natural has a 1-year low of $43.07 and a 1-year high of $57.63. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.59 and a quick ratio of 0.54.

Northwest Natural Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 29th will be issued a dividend of $0.482 per share. This represents a $1.93 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Thursday, July 28th. Northwest Natural’s dividend payout ratio is currently 79.75%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NWN. Bank of America upgraded Northwest Natural from an “underperform” rating to a “neutral” rating and set a $53.00 target price on the stock in a report on Tuesday, May 24th. Royal Bank of Canada upped their price objective on Northwest Natural from $49.00 to $50.00 and gave the company a “sector perform” rating in a report on Thursday, April 14th. Maxim Group decreased their price objective on Northwest Natural from $74.00 to $62.00 in a report on Monday, April 4th. Finally, StockNews.com initiated coverage on Northwest Natural in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $53.60.

Insider Transactions at Northwest Natural

In other news, CEO David Hugo Anderson sold 1,127 shares of the company’s stock in a transaction on Wednesday, June 22nd. The stock was sold at an average price of $52.44, for a total transaction of $59,099.88. Following the sale, the chief executive officer now owns 125,675 shares of the company’s stock, valued at $6,590,397. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Northwest Natural

Several large investors have recently bought and sold shares of the business. US Bancorp DE increased its holdings in Northwest Natural by 2.0% in the first quarter. US Bancorp DE now owns 11,286 shares of the utilities provider’s stock valued at $584,000 after buying an additional 219 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Northwest Natural by 3.8% in the first quarter. PNC Financial Services Group Inc. now owns 11,560 shares of the utilities provider’s stock valued at $598,000 after buying an additional 420 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Northwest Natural by 8.2% in the first quarter. Envestnet Asset Management Inc. now owns 5,581 shares of the utilities provider’s stock valued at $289,000 after buying an additional 422 shares during the last quarter. Guardian Wealth Management Inc. increased its holdings in Northwest Natural by 12.1% in the first quarter. Guardian Wealth Management Inc. now owns 5,257 shares of the utilities provider’s stock valued at $272,000 after buying an additional 568 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in Northwest Natural by 20.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 6,526 shares of the utilities provider’s stock valued at $338,000 after buying an additional 1,108 shares during the last quarter. Hedge funds and other institutional investors own 64.11% of the company’s stock.

About Northwest Natural

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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 also operates 5.7 billion cubic feet of the Mist gas storage facility contracted to other utilities and third-party marketers; offers natural gas asset management services; and operates an appliance retail center.

Further Reading

Earnings History for Northwest Natural (NYSE:NWN)

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