Northwest Natural Gas (NWN) Cut to Neutral at Sidoti

Sidoti lowered shares of Northwest Natural Gas (NYSE:NWN) from a buy rating to a neutral rating in a research report sent to investors on Monday morning, MarketBeat.com reports. Sidoti currently has $63.00 price objective on the utilities provider’s stock.

NWN has been the topic of a number of other reports. Zacks Investment Research cut Northwest Natural Gas from a hold rating to a sell rating in a research report on Saturday, September 30th. Wells Fargo & Co cut Northwest Natural Gas from a market perform rating to an underperform rating in a research report on Monday, December 18th. Royal Bank of Canada began coverage on Northwest Natural Gas in a research report on Tuesday, December 19th. They set a sector perform rating and a $63.00 price objective on the stock. Finally, Guggenheim cut Northwest Natural Gas from a neutral rating to a sell rating in a research report on Tuesday, January 2nd. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the stock. Northwest Natural Gas has a consensus rating of Hold and a consensus price target of $67.00.

Northwest Natural Gas (NYSE:NWN) traded down $1.45 during mid-day trading on Monday, hitting $56.00. The stock had a trading volume of 188,000 shares, compared to its average volume of 225,386. Northwest Natural Gas has a 12-month low of $55.70 and a 12-month high of $69.50. The company has a current ratio of 0.98, a quick ratio of 0.69 and a debt-to-equity ratio of 0.89. The stock has a market cap of $1,610.00, a PE ratio of 25.45, a P/E/G ratio of 5.77 and a beta of 0.40.

Northwest Natural Gas (NYSE:NWN) last posted its quarterly earnings data on Friday, November 3rd. The utilities provider reported ($0.30) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.01. Northwest Natural Gas had a return on equity of 7.31% and a net margin of 8.32%. The firm had revenue of $88.20 million for the quarter, compared to analysts’ expectations of $91.19 million. During the same period in the previous year, the firm earned $1.18 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. equities analysts forecast that Northwest Natural Gas will post 2.18 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its stake in Northwest Natural Gas by 2.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,063 shares of the utilities provider’s stock valued at $123,000 after purchasing an additional 40 shares during the period. D.A. Davidson & CO. raised its stake in Northwest Natural Gas by 61.0% during the 2nd quarter. D.A. Davidson & CO. now owns 2,111 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 800 shares during the period. Riverhead Capital Management LLC raised its stake in Northwest Natural Gas by 88.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,263 shares of the utilities provider’s stock valued at $136,000 after purchasing an additional 1,063 shares during the period. Ameritas Investment Partners Inc. raised its stake in Northwest Natural Gas by 6.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,496 shares of the utilities provider’s stock valued at $149,000 after purchasing an additional 150 shares during the period. Finally, Flinton Capital Management LLC raised its stake in Northwest Natural Gas by 83.6% during the 2nd quarter. Flinton Capital Management LLC now owns 3,444 shares of the utilities provider’s stock valued at $206,000 after purchasing an additional 1,568 shares during the period. 64.59% of the stock is currently owned by hedge funds and other institutional investors.

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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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