Northwest Natural Gas Co (NYSE:NWN) announced a quarterly dividend on Friday, January 12th, RTT News reports. Shareholders of record on Wednesday, January 31st will be paid a dividend of 0.4725 per share by the utilities provider on Thursday, February 15th. This represents a $1.89 annualized dividend and a yield of 3.36%. The ex-dividend date is Tuesday, January 30th.
Northwest Natural Gas has increased its dividend payment by an average of 0.7% per year over the last three years and has raised its dividend every year for the last 62 years. Northwest Natural Gas has a payout ratio of 86.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Northwest Natural Gas to earn $2.28 per share next year, which means the company should continue to be able to cover its $1.89 annual dividend with an expected future payout ratio of 82.9%.
Shares of Northwest Natural Gas (NWN) opened at $56.20 on Tuesday. The stock has a market cap of $1,610.80, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 5.48 and a beta of 0.33. Northwest Natural Gas has a 52 week low of $52.47 and a 52 week high of $69.50. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.98 and a quick ratio of 0.69.
NWN has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Northwest Natural Gas from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Wells Fargo & Co lowered shares of Northwest Natural Gas from a “market perform” rating to an “underperform” rating in a research note on Monday, December 18th. Royal Bank of Canada assumed coverage on shares of Northwest Natural Gas in a research note on Tuesday, December 19th. They issued a “sector perform” rating and a $63.00 price target on the stock. Guggenheim lowered shares of Northwest Natural Gas from a “neutral” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, Sidoti lowered shares of Northwest Natural Gas from a “buy” rating to a “neutral” rating and set a $63.00 price target on the stock. in a research note on Monday, January 8th. Three research 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 company’s stock. The stock currently has an average rating of “Hold” and an average price target of $67.00.
In other news, Director Mark S. Dodson sold 1,036 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $56.05, for a total transaction of $58,067.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.48% of the company’s stock.
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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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