Northwest Natural Gas (NYSE:NWN) Cut to C+ at TheStreet

Northwest Natural Gas (NYSE:NWN) was downgraded by stock analysts at TheStreet from a “b” rating to a “c+” rating in a research report issued on Tuesday, August 7th.

A number of other research analysts have also recently issued reports on the company. ValuEngine raised Northwest Natural Gas from a “hold” rating to a “buy” rating in a report on Friday, April 27th. Zacks Investment Research upgraded Northwest Natural Gas from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Thursday, August 9th. Finally, Guggenheim reiterated a “sell” rating and issued a $51.00 price objective on shares of Northwest Natural Gas in a research report on Monday, July 23rd. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $60.00.

NWN stock traded up $0.30 during midday trading on Tuesday, hitting $64.90. 137,400 shares of the company traded hands, compared to its average volume of 146,030. Northwest Natural Gas has a twelve month low of $51.50 and a twelve month high of $69.50. The company has a quick ratio of 0.46, a current ratio of 0.61 and a debt-to-equity ratio of 0.90. The company has a market cap of $1.83 billion, a PE ratio of 28.97, a price-to-earnings-growth ratio of 6.57 and a beta of 0.33.

Northwest Natural Gas (NYSE:NWN) last announced its quarterly earnings data on Tuesday, August 7th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.07). The company had revenue of $124.57 million during the quarter. Northwest Natural Gas had a positive return on equity of 8.03% and a negative net margin of 8.10%. equities analysts expect that Northwest Natural Gas will post 2.23 EPS for the current fiscal year.

In other news, SVP Mardilyn Saathoff sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $64.91, for a total transaction of $129,820.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lea Anne Doolittle sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $64.22, for a total value of $192,660.00. Following the transaction, the insider now directly owns 6,551 shares in the company, valued at $420,705.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,828 shares of company stock worth $1,021,543. Company insiders own 1.19% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in shares of Northwest Natural Gas by 6.4% during the 2nd quarter. BlackRock Inc. now owns 4,093,462 shares of the utilities provider’s stock worth $261,163,000 after acquiring an additional 245,086 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Northwest Natural Gas by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 891,145 shares of the utilities provider’s stock valued at $56,856,000 after buying an additional 2,922 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Northwest Natural Gas by 12.6% in the 2nd quarter. Renaissance Technologies LLC now owns 637,600 shares of the utilities provider’s stock valued at $40,679,000 after buying an additional 71,300 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Northwest Natural Gas by 9.8% in the 1st quarter. JPMorgan Chase & Co. now owns 579,421 shares of the utilities provider’s stock valued at $33,403,000 after buying an additional 51,721 shares in the last quarter. Finally, Parnassus Investments CA grew its holdings in Northwest Natural Gas by 12.7% in the 2nd quarter. Parnassus Investments CA now owns 447,973 shares of the utilities provider’s stock valued at $28,581,000 after buying an additional 50,473 shares in the last quarter. 68.64% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also: Earnings Per Share (EPS)

Analyst Recommendations for Northwest Natural Gas (NYSE:NWN)

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