Northwest Natural (NYSE:NWN) Upgraded by StockNews.com to Hold

Northwest Natural (NYSE:NWN) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

NWN has been the topic of several other research reports. Janney Montgomery Scott raised Northwest Natural from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $36.00 to $43.00 in a research note on Monday. Stifel Nicolaus upped their price target on shares of Northwest Natural from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.25.

Northwest Natural Price Performance

NWN stock traded down $0.87 during midday trading on Monday, reaching $38.05. 354,850 shares of the company’s stock traded hands, compared to its average volume of 298,674. The company has a 50-day simple moving average of $37.11 and a two-hundred day simple moving average of $37.21. Northwest Natural has a 1-year low of $34.82 and a 1-year high of $41.66. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 16.69 and a beta of 0.57. The company has a quick ratio of 0.93, a current ratio of 1.15 and a debt-to-equity ratio of 1.17.

Northwest Natural (NYSE:NWN) last announced its quarterly earnings data on Friday, August 2nd. The utilities provider reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.06. Northwest Natural had a return on equity of 6.76% and a net margin of 7.36%. The firm had revenue of $211.70 million for the quarter, compared to analyst estimates of $231.99 million. During the same period last year, the company earned $0.03 EPS. The business’s quarterly revenue was down 11.0% compared to the same quarter last year. On average, analysts anticipate that Northwest Natural will post 2.28 earnings per share for the current year.

Hedge Funds Weigh In On Northwest Natural

Large investors have recently added to or reduced their stakes in the business. Arizona State Retirement System boosted its stake in shares of Northwest Natural by 4.3% during the 2nd quarter. Arizona State Retirement System now owns 10,547 shares of the utilities provider’s stock valued at $381,000 after purchasing an additional 439 shares in the last quarter. Mesirow Institutional Investment Management Inc. lifted its position in Northwest Natural by 0.4% during the second quarter. Mesirow Institutional Investment Management Inc. now owns 243,047 shares of the utilities provider’s stock valued at $8,776,000 after purchasing an additional 1,041 shares during the period. Rhumbline Advisers raised its position in Northwest Natural by 4.0% in the second quarter. Rhumbline Advisers now owns 131,643 shares of the utilities provider’s stock worth $4,754,000 after acquiring an additional 5,068 shares during the period. Versor Investments LP bought a new position in Northwest Natural in the second quarter worth approximately $246,000. Finally, Van ECK Associates Corp raised its position in shares of Northwest Natural by 12.4% during the 2nd quarter. Van ECK Associates Corp now owns 9,714 shares of the utilities provider’s stock valued at $351,000 after purchasing an additional 1,071 shares during the period. Hedge funds and other institutional investors own 75.13% of the company’s stock.

Northwest Natural Company Profile

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.