Northwest Natural Gas Co (NWN) Updates FY17 Earnings Guidance
Northwest Natural Gas Co (NYSE:NWN) issued an update on its FY17 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $2.05-2.25 for the period, compared to the Thomson Reuters consensus estimate of $2.16.
Northwest Natural Gas Co (NYSE:NWN) traded up 0.08% during midday trading on Friday, hitting $59.70. The company had a trading volume of 16,320 shares. The stock has a 50 day moving average price of $59.57 and a 200-day moving average price of $58.95. Northwest Natural Gas Co has a 52 week low of $53.50 and a 52 week high of $66.17. The stock has a market capitalization of $1.71 billion, a PE ratio of 26.83 and a beta of 0.31.
Northwest Natural Gas (NYSE:NWN) last announced its earnings results on Monday, May 8th. The utilities provider reported $1.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.41 by $0.01. The business had revenue of $297.30 million for the quarter, compared to analyst estimates of $147.56 million. Northwest Natural Gas had a net margin of 8.96% and a return on equity of 7.87%. The company’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.40 earnings per share. On average, equities analysts predict that Northwest Natural Gas Co will post $2.17 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, April 28th were paid a dividend of $0.47 per share. The ex-dividend date was Wednesday, April 26th. This represents a $1.88 annualized dividend and a yield of 3.15%. Northwest Natural Gas’s payout ratio is presently 85.84%.
NWN has been the topic of several research analyst reports. Zacks Investment Research downgraded Northwest Natural Gas from a hold rating to a sell rating in a research note on Thursday, March 2nd. Wells Fargo & Co initiated coverage on Northwest Natural Gas in a research note on Wednesday, February 1st. They set a market perform rating on the stock.
In other news, CEO David A. Weber sold 575 shares of the company’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $57.49, for a total value of $33,056.75. Following the sale, the chief executive officer now owns 26 shares in the company, valued at $1,494.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Shawn M. Filippi sold 600 shares of the company’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $59.95, for a total value of $35,970.00. Following the completion of the sale, the vice president now owns 1,430 shares in the company, valued at approximately $85,728.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,018 shares of company stock worth $352,977. Company insiders own 2.07% of the company’s stock.
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An institutional investor recently raised its position in Northwest Natural Gas stock. Teachers Advisors LLC increased its position in Northwest Natural Gas Co (NYSE:NWN) by 2.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,096 shares of the utilities provider’s stock after buying an additional 1,269 shares during the period. Teachers Advisors LLC owned approximately 0.20% of Northwest Natural Gas worth $3,315,000 as of its most recent SEC filing. Institutional investors own 59.63% 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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