Loading...
Loading...
In a report published Monday, D.A. Davidson & Co. reiterated its Neutral rating on Northwest Natural Gas Company
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in