Brokerages Anticipate Northwest Natural Gas Co (NWN) Will Announce Earnings of $0.04 Per Share

Wall Street brokerages expect that Northwest Natural Gas Co (NYSE:NWN) will post earnings per share (EPS) of $0.04 for the current quarter, according to Zacks. Zero analysts have provided estimates for Northwest Natural Gas’ earnings. The lowest EPS estimate is ($0.01) and the highest is $0.08. Northwest Natural Gas posted earnings of $0.10 per share in the same quarter last year, which would suggest a negative year over year growth rate of 60%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, August 1st.

On average, analysts expect that Northwest Natural Gas will report full-year earnings of $2.23 per share for the current financial year, with EPS estimates ranging from $2.20 to $2.27. For the next year, analysts expect that the company will report earnings of $2.49 per share, with EPS estimates ranging from $2.42 to $2.60. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Northwest Natural Gas.

Northwest Natural Gas (NYSE:NWN) last released its quarterly earnings data on Tuesday, May 8th. The utilities provider reported $1.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.03. The business had revenue of $264.70 million for the quarter, compared to the consensus estimate of $296.20 million. Northwest Natural Gas had a negative net margin of 7.46% and a positive return on equity of 8.14%. The company’s revenue was down 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 earnings per share.

NWN has been the topic of several recent research reports. ValuEngine raised shares of Northwest Natural Gas from a “hold” rating to a “buy” rating in a report on Friday, April 27th. Zacks Investment Research downgraded shares of Northwest Natural Gas from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Wells Fargo & Co raised shares of Northwest Natural Gas from an “underperform” rating to a “market perform” rating and set a $52.00 price objective on the stock in a report on Monday, March 5th. Bank of America initiated coverage on shares of Northwest Natural Gas in a report on Tuesday, February 27th. They set an “underperform” rating on the stock. Finally, TheStreet raised shares of Northwest Natural Gas from a “c” rating to a “b” rating in a report on Tuesday, May 8th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Northwest Natural Gas presently has an average rating of “Hold” and an average target price of $61.00.

Several institutional investors and hedge funds have recently made changes to their positions in NWN. Schwab Charles Investment Management Inc. increased its position in shares of Northwest Natural Gas by 2.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 209,402 shares of the utilities provider’s stock valued at $12,491,000 after buying an additional 5,401 shares during the period. US Bancorp DE increased its position in shares of Northwest Natural Gas by 4.8% during the fourth quarter. US Bancorp DE now owns 28,789 shares of the utilities provider’s stock valued at $1,718,000 after buying an additional 1,315 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of Northwest Natural Gas during the fourth quarter valued at about $583,000. Swiss National Bank increased its position in shares of Northwest Natural Gas by 2.3% during the fourth quarter. Swiss National Bank now owns 48,300 shares of the utilities provider’s stock valued at $2,881,000 after buying an additional 1,100 shares during the period. Finally, KBC Group NV increased its position in shares of Northwest Natural Gas by 80.5% during the fourth quarter. KBC Group NV now owns 11,732 shares of the utilities provider’s stock valued at $700,000 after buying an additional 5,232 shares during the period. Hedge funds and other institutional investors own 67.46% of the company’s stock.

Northwest Natural Gas traded up $0.40, hitting $58.50, during trading on Monday, according to Marketbeat.com. 1,006 shares of the company’s stock traded hands, compared to its average volume of 159,347. The company has a market cap of $1.65 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 5.92 and a beta of 0.35. Northwest Natural Gas has a 12-month low of $51.50 and a 12-month high of $69.50. The company has a quick ratio of 0.65, a current ratio of 0.76 and a debt-to-equity ratio of 0.89.

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Monday, April 30th were given a dividend of $0.4725 per share. This represents a $1.89 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Friday, April 27th. Northwest Natural Gas’s dividend payout ratio is presently 84.38%.

About Northwest Natural Gas

Northwest Natural Gas Company engages in gas distribution and storage businesses in the United States. It operates in two segments, Local Gas Distribution and Gas Storage. The Local Gas Distribution segment engages in the purchase, sale, and delivery of natural gas and related services to residential, commercial, and industrial customers in Oregon and southwest Washington.

Get a free copy of the Zacks research report on Northwest Natural Gas (NWN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Northwest Natural Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northwest Natural Gas and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply