Northwest Natural Gas Co (NWN) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Northwest Natural Gas Co (NYSE:NWN) issued its quarterly earnings data on Monday. The utilities provider reported $1.40 EPS for the quarter, missing the Zacks’ consensus estimate of $1.41 by $0.01. The company had revenue of $297.30 million for the quarter, compared to analyst estimates of $147.56 million. Northwest Natural Gas had a net margin of 8.96% and a return on equity of 7.87%. The business’s revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.40 EPS. Northwest Natural Gas updated its FY17 guidance to $2.05-2.25 EPS.

Northwest Natural Gas (NYSE:NWN) traded down 0.1953% during mid-day trading on Friday, reaching $59.5335. The company’s stock had a trading volume of 29,877 shares. Northwest Natural Gas has a 52-week low of $53.50 and a 52-week high of $66.17. The company has a 50 day moving average of $59.57 and a 200-day moving average of $58.95. The stock has a market cap of $1.71 billion, a PE ratio of 26.7566 and a beta of 0.31.

Earnings History for Northwest Natural Gas (NYSE:NWN)

The firm also recently announced a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, April 28th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Wednesday, April 26th. Northwest Natural Gas’s dividend payout ratio (DPR) is currently 85.84%.

A number of research analysts have recently commented on the company. Zacks Investment Research raised Northwest Natural Gas from a “sell” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Co started coverage on Northwest Natural Gas in a report on Wednesday, February 1st. They set a “market perform” rating on the stock.

In other news, insider Lea Anne Doolittle sold 3,200 shares of the business’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $58.00, for a total transaction of $185,600.00. Following the completion of the transaction, the insider now directly owns 1,930 shares in the company, valued at approximately $111,940. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David A. Weber sold 575 shares of the company’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $57.49, for a total transaction of $33,056.75. Following the completion of the transaction, the chief executive officer now owns 26 shares of the company’s stock, valued at $1,494.74. The disclosure for this sale can be found here. Insiders have sold a total of 6,018 shares of company stock valued at $352,977 over the last 90 days. Company insiders own 2.07% of the company’s stock.

Several institutional investors have recently modified their holdings of NWN. BlackRock Inc. increased its position in shares of Northwest Natural Gas by 12,672.6% in the first quarter. BlackRock Inc. now owns 3,607,352 shares of the utilities provider’s stock valued at $213,194,000 after buying an additional 3,579,109 shares during the period. Vanguard Group Inc. boosted its position in shares of Northwest Natural Gas by 4.7% in the first quarter. Vanguard Group Inc. now owns 2,703,884 shares of the utilities provider’s stock valued at $159,800,000 after buying an additional 120,458 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Northwest Natural Gas by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 850,548 shares of the utilities provider’s stock valued at $50,267,000 after buying an additional 3,198 shares in the last quarter. State Street Corp boosted its position in shares of Northwest Natural Gas by 4.9% in the first quarter. State Street Corp now owns 700,195 shares of the utilities provider’s stock valued at $41,379,000 after buying an additional 32,715 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Northwest Natural Gas by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 509,781 shares of the utilities provider’s stock valued at $30,128,000 after buying an additional 14,121 shares in the last quarter. 59.63% of the stock is owned by hedge funds and other institutional investors.

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About Northwest Natural Gas

Northwest Natural Gas Company (NW Natural) is engaged in the distribution of natural gas. The Company’s segments include Local Gas Distribution, Gas Storage and other. The Company maintains operations in Oregon, Washington and California and conducts businesses through NW Natural and its subsidiaries.

5 Day Chart for NYSE:NWN

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