Brokerages Set Northwest Natural Holding Co (NYSE:NWN) Target Price at $71.40

Northwest Natural Holding Co (NYSE:NWN) has earned an average recommendation of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $71.40.

A number of research analysts have recently issued reports on NWN shares. UBS Group reduced their price objective on shares of Northwest Natural from $62.00 to $61.00 and set a “sell” rating for the company in a report on Tuesday, March 3rd. Wells Fargo & Co cut shares of Northwest Natural to a “sell” rating in a report on Tuesday, March 3rd.

NWN traded up $4.84 during midday trading on Monday, hitting $62.37. The company had a trading volume of 200,179 shares, compared to its average volume of 305,136. Northwest Natural has a 52 week low of $50.49 and a 52 week high of $77.26. The company has a quick ratio of 0.52, a current ratio of 0.61 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 29.70 and a beta of 0.42. The stock’s 50 day moving average price is $68.36 and its 200 day moving average price is $70.01.

Northwest Natural (NYSE:NWN) last posted its quarterly earnings results on Monday, March 2nd. The utilities provider reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.04. The firm had revenue of $247.30 million during the quarter, compared to the consensus estimate of $248.12 million. Northwest Natural had a net margin of 8.28% and a return on equity of 8.50%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.24 earnings per share. Research analysts predict that Northwest Natural will post 2.35 EPS for the current year.

In related news, Director C Scott Gibson sold 1,796 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $67.84, for a total transaction of $121,840.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David Hugo Anderson sold 666 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $73.52, for a total transaction of $48,964.32. Following the transaction, the chief executive officer now owns 78,105 shares in the company, valued at $5,742,279.60. The disclosure for this sale can be found here. 1.14% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. purchased a new position in Northwest Natural during the fourth quarter worth about $3,686,000. Cedar Mountain Advisors LLC purchased a new position in Northwest Natural during the fourth quarter worth about $57,000. Tower Research Capital LLC TRC purchased a new position in Northwest Natural during the third quarter worth about $59,000. Cranbrook Wealth Management LLC purchased a new position in Northwest Natural during the fourth quarter worth about $70,000. Finally, Orion Portfolio Solutions LLC purchased a new position in Northwest Natural during the fourth quarter worth about $84,000. Institutional investors and hedge funds own 76.20% 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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Analyst Recommendations for Northwest Natural (NYSE:NWN)

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