Market Overview

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


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

Sep 2020Wells FargoUpgradesUnderweightEqual-Weight
Sep 2020B of A SecuritiesMaintainsUnderperform
Jul 2020UBSUpgradesSellNeutral

View More Analyst Ratings for NWN
View the Latest Analyst Ratings


Related Articles (NWN)

View Comments and Join the Discussion!

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

Latest Ratings

ESTCCanaccord GenuityMaintains150.0
AVAVCanaccord GenuityMaintains98.0
OKTACanaccord GenuityMaintains250.0
SNOWCanaccord GenuityMaintains275.0
RCMSVB LeerinkMaintains26.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at