Market Overview

UPDATE: D.A. Davidson Reiterates Neutral Rating, Raises PT on Northwest Natural Gas

Related NWN
Earnings Scheduled For February 26, 2016
Earnings Scheduled For May 5, 2015
How To Retire At 62 Without Being A Millionaire (Seeking Alpha)

In a report published Monday, D.A. Davidson & Co. reiterated its Neutral rating on Northwest Natural Gas Company (NYSE: NWN), and raised its price target from $46.00 to $48.00.

D.A. Davidson noted, “Gas utility contributed EPS of $0.01 versus $0.21 (non-GAAP) in the year-ago quarter. Results were boosted in both periods by colder winter weather than normal (estimated at $0.06 versus $0.12). However, rising operating expenses pressured utility results lower for the quarter. With the utility's investment in gas reserves progressing smoothly, but little if any material impact expected from a retail rate increase this year (new rates should take effect on November 1st), we now expect 2012 earnings in this segment to total $2.26. We expect utility earnings to increase to $2.35 in 2013, driven by additional gas reserves (+$0.09), modest customer growth (+$0.02), higher retail rates (+$0.06), offset by an assumed return to normal weather (-$0.08).”

Northwest Natural Gas Company closed on Friday at $48.84.

Latest Ratings for NWN

Apr 2016Sidoti & Co.Initiates Coverage onBuy
Jun 2014McAdams Wright RagenDowngradesBuyHold
Oct 2013Gabelli & Co.Initiates Coverage onHold

View More Analyst Ratings for NWN
View the Latest Analyst Ratings

Posted-In: D.A. Davidson & Co.Analyst Color Price Target Analyst Ratings


Related Articles (NWN)

View Comments and Join the Discussion!