Northwest Natural (NYSE:NWN) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Northwest Natural (NYSE:NWN) from a buy rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Northwest Natural Holding Company builds and maintains natural gas distribution systems, as well as invests in natural gas pipeline projects through its subsidiaries. It serves residential, commercial and industrial customers primarily in the United States, Canada and Service Territory. Northwest Natural Holding Company, formerly known as NW Natural Gas Company, is headquartered in Portland, Oregon. “

Separately, Maxim Group restated a buy rating and issued a $72.00 target price on shares of Northwest Natural in a report on Thursday, June 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Northwest Natural has a consensus rating of Hold and an average price target of $65.75.

NWN traded up $0.01 on Wednesday, hitting $70.24. The company had a trading volume of 166,500 shares, compared to its average volume of 144,478. The stock’s fifty day simple moving average is $69.06. Northwest Natural has a 1-year low of $57.20 and a 1-year high of $71.81. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.48 and a current ratio of 0.52. The company has a market capitalization of $2.03 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 6.56 and a beta of 0.33.

Northwest Natural (NYSE:NWN) last posted its earnings results on Tuesday, May 7th. The utilities provider reported $1.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.28. Northwest Natural had a return on equity of 9.86% and a net margin of 9.10%. The firm had revenue of $285.30 million during the quarter, compared to analyst estimates of $250.06 million. During the same period in the previous year, the company earned $1.39 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Analysts expect that Northwest Natural will post 2.37 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Tompkins Financial Corp acquired a new position in shares of Northwest Natural during the first quarter worth approximately $29,000. Quadrant Capital Group LLC lifted its holdings in shares of Northwest Natural by 120.9% during the first quarter. Quadrant Capital Group LLC now owns 720 shares of the utilities provider’s stock worth $45,000 after buying an additional 394 shares during the last quarter. Enterprise Financial Services Corp lifted its holdings in shares of Northwest Natural by 3,479.5% during the first quarter. Enterprise Financial Services Corp now owns 1,396 shares of the utilities provider’s stock worth $92,000 after buying an additional 1,357 shares during the last quarter. Quantamental Technologies LLC acquired a new position in shares of Northwest Natural during the first quarter worth approximately $92,000. Finally, NumerixS Investment Technologies Inc lifted its holdings in shares of Northwest Natural by 250.0% during the first quarter. NumerixS Investment Technologies Inc now owns 1,400 shares of the utilities provider’s stock worth $92,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 69.03% of the company’s stock.

About Northwest Natural

Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, and industrial customers in Oregon and Southwest Washington. It is also involved in the gas storage activities, water businesses, and other investments and activities.

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