Northwest Natural Gas Company (NWN) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Northwest Natural Gas Company (NYSE:NWN) released its earnings results on Friday. The utilities provider reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.01, Bloomberg Earnings reports. The business had revenue of $88.20 million for the quarter, compared to the consensus estimate of $91.19 million. Northwest Natural Gas had a net margin of 8.38% and a return on equity of 7.51%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the firm posted $1.18 earnings per share. Northwest Natural Gas updated its FY17 guidance to $2.05-2.25 EPS.
Northwest Natural Gas (NYSE NWN) traded up $0.55 during midday trading on Friday, reaching $66.65. 94,328 shares of the company’s stock were exchanged, compared to its average volume of 93,588. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.82 and a quick ratio of 0.57. The stock has a market capitalization of $1,910.32, a price-to-earnings ratio of 30.30, a PEG ratio of 6.83 and a beta of 0.39.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be issued a dividend of $0.4725 per share. This is a boost from Northwest Natural Gas’s previous quarterly dividend of $0.47. This represents a $1.89 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Monday, October 30th. Northwest Natural Gas’s dividend payout ratio (DPR) is currently 85.91%.
Several analysts recently commented on the stock. Zacks Investment Research cut shares of Northwest Natural Gas from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. BidaskClub upgraded shares of Northwest Natural Gas from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $66.00.
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In other Northwest Natural Gas news, CEO David Hugo Anderson sold 8,000 shares of Northwest Natural Gas stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $66.97, for a total value of $535,760.00. Following the completion of the sale, the chief executive officer now directly owns 71,484 shares in the company, valued at $4,787,283.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martha L. Byorum sold 1,202 shares of Northwest Natural Gas stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $64.88, for a total transaction of $77,985.76. Following the completion of the sale, the director now owns 1,202 shares of the company’s stock, valued at $77,985.76. The disclosure for this sale can be found here. Insiders sold 13,202 shares of company stock valued at $879,666 over the last quarter. Corporate insiders own 1.48% of the company’s stock.
Northwest Natural Gas Company Profile
Northwest Natural Gas Company (NW Natural) is engaged in the distribution of natural gas. The Company’s segments include Local Gas Distribution, Gas Storage and other. The Company maintains operations in Oregon, Washington and California and conducts businesses through NW Natural and its subsidiaries.
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