Market Overview

NWN To Beat Q4 Consensus


Analyst James Lykins of Morgan Joseph maintains his "buy" rating on Northwest Natural Gas (NYSE: NWN). The target price for NWN is set to $55.

Northwest Natural Gas is scheduled to report its Q4 results on March 26. Morgan Joseph expects NWN’s results to be ahead of the consensus. “Our biggest question this quarter is what progress has been made with the company's developmental projects… This includes Gill Ranch Storage (project with Pacific Gas & Electric), the Palomar Pipeline project (JV with TransCanada Pipeline), and expansion of the company's Mist Storage facility,” the analyst says.

“We believe the incremental EPS benefit will be approximately $0.15-$0.20 at Gill Ranch starting ~September 2010, $0.20-$0.40 for Palomar beginning in 2011-2012, and an additional $0.04-0.06 at Mist starting next year,” the analyst adds.

More Analyst Ratings here


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