Northwest Natural (NYSE:NWN) Hits New 52-Week High Following Earnings Beat

Northwest Natural Holding (NYSE:NWN) shares reached a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $42.55 and last traded at $42.49, with a volume of 38769 shares traded. The stock had previously closed at $41.44.

The utilities provider reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.08. The business had revenue of $136.90 million for the quarter, compared to analysts’ expectations of $132.47 million. Northwest Natural had a return on equity of 5.89% and a net margin of 6.90%. The business’s revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.65) EPS.

Northwest Natural Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.49 dividend. This is a boost from Northwest Natural’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, October 31st. This represents a $1.96 dividend on an annualized basis and a yield of 4.75%. Northwest Natural’s payout ratio is presently 92.45%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. StockNews.com upgraded Northwest Natural from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Janney Montgomery Scott upgraded shares of Northwest Natural from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $36.00 to $43.00 in a research note on Monday, August 5th.

Institutional Investors Weigh In On Northwest Natural

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in Northwest Natural by 173.5% in the second quarter. GAMMA Investing LLC now owns 796 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 505 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Northwest Natural in the 3rd quarter worth approximately $34,000. EntryPoint Capital LLC bought a new stake in Northwest Natural during the 1st quarter valued at $32,000. Quest Partners LLC boosted its position in Northwest Natural by 12,044.4% during the second quarter. Quest Partners LLC now owns 1,093 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 1,084 shares in the last quarter. Finally, Quarry LP raised its stake in shares of Northwest Natural by 155.0% during the 2nd quarter. Quarry LP now owns 1,923 shares of the utilities provider’s stock worth $69,000 after acquiring an additional 1,169 shares in the last quarter. 75.13% of the stock is owned by institutional investors.

Northwest Natural Stock Performance

The business has a 50-day moving average price of $39.97 and a 200-day moving average price of $38.57. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 19.80 and a beta of 0.58. The company has a quick ratio of 0.73, a current ratio of 0.72 and a debt-to-equity ratio of 1.15.

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.