Northwest Natural (NYSE:NWN) Releases Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Northwest Natural (NYSE:NWN) released its quarterly earnings data on Tuesday. The utilities provider reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.14, Bloomberg Earnings reports. Northwest Natural had a return on equity of 9.86% and a net margin of 9.10%. The company had revenue of $123.44 million for the quarter, compared to analysts’ expectations of $125.08 million. During the same period last year, the firm posted ($0.03) earnings per share. Northwest Natural’s revenue was down .9% compared to the same quarter last year. Northwest Natural updated its FY 2019 guidance to $2.25-2.45 EPS and its FY19 guidance to $2.25 to $2.45 EPS.

NWN stock opened at $70.74 on Wednesday. Northwest Natural has a fifty-two week low of $57.20 and a fifty-two week high of $73.50. The firm has a 50-day moving average price of $70.20. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.48 and a current ratio of 0.52. The company has a market capitalization of $2.06 billion, a P/E ratio of 30.36, a price-to-earnings-growth ratio of 6.73 and a beta of 0.30.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Tuesday, July 30th. Northwest Natural’s dividend payout ratio is 81.55%.

Several equities research analysts recently commented on NWN shares. Maxim Group reaffirmed a “buy” rating and set a $79.00 price objective (up from $72.00) on shares of Northwest Natural in a research report on Monday. Zacks Investment Research cut Northwest Natural from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $68.25.

Hedge funds have recently bought and sold shares of the business. Tompkins Financial Corp bought a new position in Northwest Natural in the first quarter valued at about $29,000. Quadrant Capital Group LLC lifted its holdings in Northwest Natural by 120.9% in the first quarter. Quadrant Capital Group LLC now owns 720 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 394 shares during the period. Mcmillion Capital Management Inc. bought a new position in Northwest Natural in the second quarter valued at about $64,000. Advisory Services Network LLC lifted its holdings in Northwest Natural by 66.4% in the second quarter. Advisory Services Network LLC now owns 1,140 shares of the utilities provider’s stock valued at $79,000 after acquiring an additional 455 shares during the period. Finally, Enterprise Financial Services Corp lifted its holdings in Northwest Natural by 3,479.5% in the first quarter. Enterprise Financial Services Corp now owns 1,396 shares of the utilities provider’s stock valued at $92,000 after acquiring an additional 1,357 shares during the period. 69.22% of the stock is currently owned by 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 Oregon and Southwest Washington. It is also involved in the gas storage activities, water businesses, and other investments and activities.

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Earnings History for Northwest Natural (NYSE:NWN)

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