Stifel Nicolaus Forecasts Strong Price Appreciation for Northwest Natural (NYSE:NWN) Stock

Northwest Natural (NYSE:NWN) had its target price boosted by stock analysts at Stifel Nicolaus from $45.00 to $49.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the utilities provider’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 23.43% from the company’s previous close.

Separately, Wells Fargo & Company raised their target price on Northwest Natural from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 7th.

Northwest Natural Stock Down 1.4%

Northwest Natural stock opened at $39.70 on Friday. The business’s 50-day moving average price is $41.68 and its 200 day moving average price is $41.17. The company has a quick ratio of 0.53, a current ratio of 0.72 and a debt-to-equity ratio of 1.15. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 18.73 and a beta of 0.54. Northwest Natural has a 52 week low of $34.82 and a 52 week high of $44.38.

Northwest Natural (NYSE:NWN) last posted its earnings results on Tuesday, May 6th. The utilities provider reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.19. Northwest Natural had a net margin of 6.90% and a return on equity of 5.89%. The firm had revenue of $494.28 million during the quarter, compared to analysts’ expectations of $464.65 million. During the same period in the previous year, the business posted $1.69 EPS. The business’s revenue was up 14.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Northwest Natural will post 2.33 earnings per share for the current year.

Insider Activity

In other news, VP David A. Weber sold 2,183 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $42.46, for a total transaction of $92,690.18. Following the sale, the vice president now owns 255 shares of the company’s stock, valued at approximately $10,827.30. This represents a 89.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Hugo Anderson sold 7,500 shares of Northwest Natural stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $41.46, for a total transaction of $310,950.00. Following the completion of the transaction, the chief executive officer now owns 117,382 shares of the company’s stock, valued at $4,866,657.72. This trade represents a 6.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,774 shares of company stock valued at $1,037,295 in the last quarter. Insiders own 0.84% of the company’s stock.

Institutional Trading of Northwest Natural

Several hedge funds have recently added to or reduced their stakes in NWN. Abound Wealth Management acquired a new stake in shares of Northwest Natural during the 1st quarter worth about $34,000. MCF Advisors LLC acquired a new position in Northwest Natural in the first quarter valued at $38,000. Capital Advisors Ltd. LLC boosted its stake in shares of Northwest Natural by 11,111.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,009 shares of the utilities provider’s stock worth $40,000 after buying an additional 1,000 shares during the period. GAMMA Investing LLC boosted its stake in shares of Northwest Natural by 24.6% during the first quarter. GAMMA Investing LLC now owns 1,689 shares of the utilities provider’s stock worth $72,000 after buying an additional 334 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Northwest Natural by 32.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,830 shares of the utilities provider’s stock worth $112,000 after buying an additional 694 shares during the last quarter. Institutional investors and hedge funds own 75.13% of the company’s stock.

About Northwest Natural

Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, and industrial customers in the United States. The company operates a mist gas storage facility contracted to other utilities, third-party marketers, and electric generators; offers natural gas asset management services; and operates an appliance retail center.