Stifel Nicolaus Cuts Northwest Natural (NYSE:NWN) Price Target to $44.00

Northwest Natural (NYSE:NWN - Free Report) had its price objective decreased by Stifel Nicolaus from $45.00 to $44.00 in a research note published on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the utilities provider's stock.

A number of other brokerages also recently issued reports on NWN. StockNews.com raised shares of 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 boosted their target price for the company from $36.00 to $43.00 in a research note on Monday, August 5th.

Northwest Natural Stock Down 1.6 %

NYSE:NWN traded down $0.66 during trading hours on Thursday, reaching $40.63. 292,041 shares of the company traded hands, compared to its average volume of 279,220. Northwest Natural has a 1 year low of $34.82 and a 1 year high of $42.56. The stock has a market capitalization of $1.57 billion, a P/E ratio of 19.36 and a beta of 0.58. The business's 50-day moving average price is $40.00 and its two-hundred day moving average price is $38.59. The company has a current ratio of 0.72, a quick ratio of 0.73 and a debt-to-equity ratio of 1.15.

Northwest Natural (NYSE:NWN - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The utilities provider reported ($0.71) EPS for the quarter, beating the consensus estimate of ($0.79) by $0.08. The company had revenue of $136.90 million for the quarter, compared to the consensus estimate of $132.47 million. Northwest Natural had a net margin of 6.90% and a return on equity of 5.89%. Northwest Natural's revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.65) EPS. Analysts predict that Northwest Natural will post 2.32 earnings per share for the current year.

Northwest Natural Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.82%. The ex-dividend date is Thursday, October 31st. This is a boost from Northwest Natural's previous quarterly dividend of $0.49. Northwest Natural's dividend payout ratio (DPR) is currently 92.45%.

Hedge Funds Weigh In On Northwest Natural

Institutional investors have recently bought and sold shares of the stock. Texas Permanent School Fund Corp lifted its stake in Northwest Natural by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 32,188 shares of the utilities provider's stock worth $1,198,000 after purchasing an additional 417 shares in the last quarter. Swiss National Bank lifted its position in shares of Northwest Natural by 2.1% in the 1st quarter. Swiss National Bank now owns 72,600 shares of the utilities provider's stock worth $2,702,000 after purchasing an additional 1,500 shares during the period. US Bancorp DE grew its stake in Northwest Natural by 19.3% in the first quarter. US Bancorp DE now owns 39,269 shares of the utilities provider's stock valued at $1,462,000 after purchasing an additional 6,359 shares during the last quarter. Avantax Advisory Services Inc. boosted its position in shares of Northwest Natural by 2.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 27,805 shares of the utilities provider's stock worth $1,035,000 after purchasing an additional 702 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Northwest Natural by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 4,421,601 shares of the utilities provider's stock worth $164,572,000 after purchasing an additional 71,214 shares during the last quarter. 75.13% of the stock is owned by institutional investors.

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.