Northwest Natural Holding (NYSE:NWN) Receives Average Recommendation of “Hold” from Brokerages

Northwest Natural Holding (NYSE:NWN) has been given an average recommendation of “Hold” by the four research firms that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation. The average 12-month price target among analysts that have covered the stock in the last year is $45.20.

Separately, Janney Montgomery Scott started coverage on Northwest Natural in a report on Wednesday, January 31st. They set a “neutral” rating and a $39.00 price objective for the company.

Northwest Natural Stock Up 3.0 %

Shares of NYSE:NWN opened at $37.70 on Monday. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 14.50 and a beta of 0.57. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.70. The business’s 50-day moving average is $36.75 and its 200-day moving average is $37.58. Northwest Natural has a 1 year low of $34.95 and a 1 year high of $48.37.

Northwest Natural (NYSE:NWN) last announced its quarterly earnings data on Friday, February 23rd. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.10). The business had revenue of $355.71 million during the quarter, compared to analyst estimates of $368.78 million. Northwest Natural had a net margin of 7.84% and a return on equity of 7.52%. During the same period in the prior year, the firm earned $1.36 earnings per share. Equities research analysts predict that Northwest Natural will post 2.27 earnings per share for the current year.

Northwest Natural Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.488 per share. This represents a $1.95 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date is Monday, April 29th. Northwest Natural’s dividend payout ratio is currently 75.00%.

Hedge Funds Weigh In On Northwest Natural

Several institutional investors have recently modified their holdings of NWN. Envestnet Asset Management Inc. grew its holdings in Northwest Natural by 8.2% during the first quarter. Envestnet Asset Management Inc. now owns 5,581 shares of the utilities provider’s stock valued at $289,000 after purchasing an additional 422 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Northwest Natural by 80.0% during the first quarter. JPMorgan Chase & Co. now owns 234,887 shares of the utilities provider’s stock worth $12,149,000 after acquiring an additional 104,423 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Northwest Natural by 20.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 6,526 shares of the utilities provider’s stock worth $338,000 after acquiring an additional 1,108 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Northwest Natural by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 464,297 shares of the utilities provider’s stock worth $24,014,000 after acquiring an additional 7,071 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of Northwest Natural by 2.0% during the first quarter. US Bancorp DE now owns 11,286 shares of the utilities provider’s stock worth $584,000 after acquiring an additional 219 shares in the last quarter. 75.13% of the stock is 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 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.