Zacks: Brokerages Expect Northwest Natural Gas Company (NWN) Will Post Earnings of -$0.34 Per Share

Analysts predict that Northwest Natural Gas Company (NYSE:NWN) will report ($0.34) earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have made estimates for Northwest Natural Gas’ earnings. The lowest EPS estimate is ($0.35) and the highest is ($0.32). Northwest Natural Gas reported earnings of ($0.29) per share in the same quarter last year, which suggests a negative year over year growth rate of 17.2%. The firm is expected to issue its next quarterly earnings report on Wednesday, November 1st.

According to Zacks, analysts expect that Northwest Natural Gas will report full-year earnings of $2.18 per share for the current year, with EPS estimates ranging from $2.15 to $2.23. For the next fiscal year, analysts expect that the firm will report earnings of $2.28 per share, with EPS estimates ranging from $2.18 to $2.32. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Northwest Natural Gas.

Northwest Natural Gas (NYSE:NWN) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.04. Northwest Natural Gas had a return on equity of 7.51% and a net margin of 8.38%. The business had revenue of $136.24 million for the quarter, compared to the consensus estimate of $78.51 million. During the same period in the previous year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 37.4% compared to the same quarter last year.

Several brokerages have issued reports on NWN. BidaskClub raised Northwest Natural Gas from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 5th. Zacks Investment Research raised Northwest Natural Gas from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Wednesday, September 6th. Finally, Sidoti reaffirmed a “buy” rating and set a $75.00 target price (up previously from $68.00) on shares of Northwest Natural Gas in a research report on Monday, June 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Northwest Natural Gas currently has an average rating of “Hold” and an average price target of $66.00.

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Northwest Natural Gas (NYSE NWN) traded down 0.45% during midday trading on Tuesday, reaching $65.85. The company’s stock had a trading volume of 79,681 shares. Northwest Natural Gas has a 12-month low of $53.50 and a 12-month high of $68.60. The company has a market cap of $1.89 billion, a P/E ratio of 29.46 and a beta of 0.42. The firm has a 50 day moving average price of $65.59 and a 200-day moving average price of $61.59.

In other Northwest Natural Gas news, VP Lori L. Russell sold 2,000 shares of Northwest Natural Gas stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $66.93, for a total transaction of $133,860.00. Following the completion of the sale, the vice president now owns 3,512 shares of the company’s stock, valued at approximately $235,058.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David Hugo Anderson sold 8,000 shares of Northwest Natural Gas stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $66.97, for a total value of $535,760.00. Following the sale, the chief executive officer now directly owns 71,484 shares of the company’s stock, valued at approximately $4,787,283.48. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock valued at $801,680 in the last three months. Insiders own 1.48% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its position in Northwest Natural Gas by 12,672.6% during the 1st quarter. BlackRock Inc. now owns 3,607,352 shares of the utilities provider’s stock worth $213,194,000 after acquiring an additional 3,579,109 shares during the period. Vanguard Group Inc. raised its stake in shares of Northwest Natural Gas by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 2,729,991 shares of the utilities provider’s stock valued at $163,389,000 after buying an additional 26,107 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Northwest Natural Gas by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 861,985 shares of the utilities provider’s stock valued at $51,590,000 after buying an additional 11,437 shares during the last quarter. State Street Corp raised its stake in shares of Northwest Natural Gas by 5.1% during the 2nd quarter. State Street Corp now owns 736,047 shares of the utilities provider’s stock valued at $44,053,000 after buying an additional 35,852 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Northwest Natural Gas by 2.8% during the 1st 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 during the last quarter. 63.32% of the stock is owned by institutional investors.

Northwest Natural Gas Company Profile

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.

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