Northwest Natural Gas (NYSE:NWN) Upgraded at Zacks Research

Key Points

• Northwest Natural Gas has received a "hold" rating upgrade from Zacks Research, suggesting a cautious view on the stock's potential moving forward.
• Stifel Nicolaus raised its price target for Northwest Natural Gas shares from $45.00 to $49.00 with a "buy" recommendation, indicating positive sentiment from analysts.
• The company reported a profit of $0.01 EPS for the last quarter, exceeding expectations, although it fell short of revenue projections with $236.19 million reported.

Northwest Natural Gas (NYSE:NWN - Get Free Report) was upgraded by Zacks Research to a "hold" rating in a research note issued on Tuesday,Zacks.com reports.

Other equities analysts have also issued reports about the company. Stifel Nicolaus upped their target price on Northwest Natural Gas from $45.00 to $49.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Wells Fargo & Company upped their target price on Northwest Natural Gas from $45.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th.

Northwest Natural Gas Price Performance

NYSE NWN traded down $0.40 during trading on Tuesday, reaching $40.43. The company's stock had a trading volume of 364,521 shares, compared to its average volume of 269,757. The stock has a market capitalization of $1.63 billion, a PE ratio of 15.98 and a beta of 0.55. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.68 and a quick ratio of 0.52. The firm has a fifty day moving average of $40.63 and a 200 day moving average of $41.25. Northwest Natural Gas has a one year low of $38.03 and a one year high of $44.38.

Northwest Natural Gas (NYSE:NWN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The utilities provider reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.08. The business had revenue of $236.19 million for the quarter, compared to analyst estimates of $252.70 million. Northwest Natural Gas had a return on equity of 8.60% and a net margin of 8.34%. Analysts expect that Northwest Natural Gas will post 2.33 EPS for the current fiscal year.

Insider Activity at Northwest Natural Gas

In other news, Director David Hugo Anderson sold 7,591 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $40.99, for a total transaction of $311,155.09. Following the transaction, the director directly owned 102,291 shares in the company, valued at approximately $4,192,908.09. This represents a 6.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders sold 22,591 shares of company stock worth $923,455. 0.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Northwest Natural Gas

Several institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System boosted its holdings in Northwest Natural Gas by 2.6% during the 1st quarter. Arizona State Retirement System now owns 11,511 shares of the utilities provider's stock valued at $492,000 after acquiring an additional 288 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in Northwest Natural Gas by 7.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,134 shares of the utilities provider's stock worth $164,000 after buying an additional 292 shares during the period. Corebridge Financial Inc. lifted its holdings in Northwest Natural Gas by 1.5% in the 1st quarter. Corebridge Financial Inc. now owns 20,902 shares of the utilities provider's stock worth $893,000 after buying an additional 314 shares during the period. GAMMA Investing LLC lifted its holdings in Northwest Natural Gas by 24.6% in the 1st 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, Hantz Financial Services Inc. lifted its holdings in Northwest Natural Gas by 44.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,143 shares of the utilities provider's stock worth $45,000 after buying an additional 351 shares during the period. 75.13% of the stock is currently owned by hedge funds and other institutional investors.

Northwest Natural Gas Company Profile

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.