Northwest Natural Gas (NYSE:NWN) Announces Quarterly Earnings Results

Northwest Natural Gas (NYSE:NWN) posted its earnings results on Wednesday. The utilities provider reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.07), Zacks reports. The firm had revenue of $490.40 million for the quarter, compared to analysts’ expectations of $538.57 million. Northwest Natural Gas had a return on equity of 8.46% and a net margin of 9.56%.The firm’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the company posted $2.28 EPS. Northwest Natural Gas updated its FY 2026 guidance to 2.950-3.150 EPS.

Here are the key takeaways from Northwest Natural Gas’ conference call:

• Reaffirmed guidance: Q1 adjusted EPS was $2.33 (vs. $2.28 prior year) and the company reaffirmed full-year 2026 EPS guidance of $2.95–$3.15 and its 4%–6% long‑term EPS growth target (which would rise to 5%–7% if MX‑3 receives notice to proceed).
• Regulatory progress is active but outcomes remain pending: a constructive multi‑party settlement was filed in Washington (first‑year revenue increase of $20.1M, ROE 9.5%, 50/50 capital structure), C Energy filed a Texas rate case seeking ~$12M of additional revenue and GRIP factors, and Oregon’s multi‑year framework may not be resolved until 2027 while an alternative 1.5% rate mechanism was filed for Oct. 2026.
• MX‑3 storage project: A $300M FERC‑regulated expansion to add 4–5 BCF of capacity under 25‑year contracts (NTP targeted by end of 2027, in‑service 2029) is expected to materially boost long‑term earnings once NTP is achieved.
• Strong growth in regulated platforms: C Energy delivered 16% organic customer growth with a backlog >250,000 meters and expects 15%–20% annual growth through 2030, while NW Natural Water grew customers 4.1% (organic 2.2%) and has ~10,000+ water connection backlog in Texas.
• Capital and funding plan: 2026 capex is expected at $500M–$550M funded by operating cash flow plus ~ $150M net long‑term debt and $40M–$50M equity via ATM, with ~$590M liquidity on hand and a dividend policy targeting a 55%–65% payout ratio over time.

Northwest Natural Gas Stock Performance

Shares of NWN stock traded up $0.44 on Friday, reaching $50.63. The stock had a trading volume of 112,314 shares, compared to its average volume of 285,321. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.57 and a current ratio of 0.80. Northwest Natural Gas has a 1 year low of $39.10 and a 1 year high of $55.99. The stock has a market cap of $2.13 billion, a P/E ratio of 17.28 and a beta of 0.47. The company has a 50 day simple moving average of $52.93 and a 200 day simple moving average of $49.37.

Northwest Natural Gas Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 30th will be paid a $0.4925 dividend. This represents a $1.97 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Thursday, April 30th. Northwest Natural Gas’s dividend payout ratio (DPR) is 70.86%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NWN shares. BTIG Research restated a “buy” rating and issued a $55.00 price target on shares of Northwest Natural Gas in a research note on Friday, January 30th. Freedom Capital raised Northwest Natural Gas to a “hold” rating in a report on Thursday, April 30th. Weiss Ratings raised Northwest Natural Gas from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. TD Cowen started coverage on Northwest Natural Gas in a report on Thursday, April 16th. They set a “hold” rating and a $58.00 price target for the company. Finally, Stifel Nicolaus lifted their price target on Northwest Natural Gas from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Northwest Natural Gas currently has an average rating of “Moderate Buy” and an average target price of $57.00.

Insiders Place Their Bets

In other Northwest Natural Gas news, VP David A. Weber sold 1,700 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $52.57, for a total value of $89,369.00. Following the transaction, the vice president directly owned 149 shares of the company’s stock, valued at approximately $7,832.93. This trade represents a 91.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 1,704 shares of company stock valued at $89,579 over the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

Institutional Trading of Northwest Natural Gas

Several hedge funds have recently bought and sold shares of NWN. Larson Financial Group LLC raised its stake in Northwest Natural Gas by 104.3% during the 3rd quarter. Larson Financial Group LLC now owns 711 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 363 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Northwest Natural Gas by 77.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 807 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 352 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in Northwest Natural Gas during the 4th quarter valued at approximately $70,000. Osaic Holdings Inc. grew its holdings in Northwest Natural Gas by 29.4% during the 2nd quarter. Osaic Holdings Inc. now owns 2,013 shares of the utilities provider’s stock valued at $80,000 after buying an additional 457 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Northwest Natural Gas by 523.2% during the second quarter. Tower Research Capital LLC TRC now owns 4,269 shares of the utilities provider’s stock valued at $170,000 after buying an additional 3,584 shares during the last quarter. Institutional investors own 75.13% of the company’s stock.

Northwest Natural Gas Company Profile

Northwest Natural Gas (NYSE: NWN), commonly known as NW Natural, is a publicly traded energy utility primarily engaged in the distribution of natural gas to residential, commercial and industrial customers. Headquartered in Portland, Oregon, the company operates an extensive pipeline network spanning thousands of miles across Oregon and southwest Washington. Its core business activities include gas procurement, system operation and maintenance, safety inspections and customer service support.

Dating back to the mid-19th century, Northwest Natural traces its origins to the Portland Gas Light Company, which first illuminated Portland streets with manufactured gas in 1859.