Northwest Natural (NYSE:NWN) Price Target Raised to $49.00

Northwest Natural (NYSE:NWN - Get Free Report) had its price objective boosted by 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 suggest a potential upside of 23.43% from the company's previous close.

Separately, Wells Fargo & Company increased their price target on Northwest Natural from $45.00 to $47.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th.

Northwest Natural Trading Down 1.4%

Shares of NYSE NWN traded down $0.58 during trading on Friday, hitting $39.70. 335,235 shares of the company traded hands, compared to its average volume of 250,101. Northwest Natural has a 1 year low of $34.82 and a 1 year high of $44.38. The company has a 50-day moving average price of $41.68 and a 200-day moving average price of $41.17. The firm has a market capitalization of $1.60 billion, a P/E ratio of 18.73 and a beta of 0.54. The company has a quick ratio of 0.53, a current ratio of 0.72 and a debt-to-equity ratio of 1.15.

Northwest Natural (NYSE:NWN - Get Free Report) last announced its quarterly earnings data 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 company 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 company earned $1.69 EPS. The business's quarterly revenue was up 14.0% compared to the same quarter last year. On average, equities analysts predict that Northwest Natural will post 2.33 EPS for the current year.

Insider Activity at Northwest Natural

In other Northwest Natural news, CEO David Hugo Anderson sold 7,500 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $41.46, for a total value of $310,950.00. Following the completion of the transaction, the chief executive officer now directly owns 117,382 shares of the company's stock, valued at $4,866,657.72. This represents a 6.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP David A. Weber sold 2,183 shares of the company's 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 completion of the transaction, the vice president now directly owns 255 shares of the company's stock, valued at approximately $10,827.30. The trade was a 89.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,774 shares of company stock worth $1,037,295. Corporate insiders own 0.84% of the company's stock.

Hedge Funds Weigh In On Northwest Natural

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFM Investors Pty Ltd purchased a new position in Northwest Natural in the 1st quarter valued at about $204,000. Intech Investment Management LLC boosted its position in Northwest Natural by 10.8% in the 1st quarter. Intech Investment Management LLC now owns 92,834 shares of the utilities provider's stock valued at $3,966,000 after buying an additional 9,061 shares during the last quarter. Jane Street Group LLC boosted its position in Northwest Natural by 650.9% in the 1st quarter. Jane Street Group LLC now owns 64,966 shares of the utilities provider's stock valued at $2,775,000 after buying an additional 56,314 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Northwest Natural by 17.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 164,729 shares of the utilities provider's stock valued at $7,037,000 after buying an additional 24,906 shares during the last quarter. Finally, Dean Capital Management boosted its position in Northwest Natural by 43.7% in the 1st quarter. Dean Capital Management now owns 10,556 shares of the utilities provider's stock valued at $451,000 after buying an additional 3,208 shares during the last quarter. 75.13% of the stock is owned by hedge funds and other institutional investors.

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.