Northwest Natural Gas Co (NWN) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $1.40 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.15. Analysts had a consensus of $1.25. The company posted revenue of $255.50 million in the period, compared to analysts expectations of $228.45 million. The company’s revenue was down -2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 EPS.
Many Wall Street Analysts have commented on Northwest Natural Gas Co. Northwest Natural Gas Co was Initiated by Sidoti to “Buy” on Apr 25, 2016.
Northwest Natural Gas Co opened for trading at $51.58 and hit $52.48 on the upside on Monday, eventually ending the session at $52.35, with a gain of 1.57% or 0.81 points. The heightened volatility saw the trading volume jump to 2,41,731 shares. Company has a market cap of $1,436 M.
In a different news, on Mar 17, 2016, Gregg S Kantor (CEO) sold 7,000 shares at $50.47 per share price. According to the SEC, on Mar 15, 2016, David R Williams (Vice President) sold 2,000 shares at $51.34 per share price. On Jan 19, 2016, Mark S Dodson (director) sold 943 shares at $50.47 per share price, according to the Form-4 filing with the securities and exchange commission.
Northwest Natural Gas Company is engaged in the distribution of natural gas. The Company operates in two business segments: Local Gas Distribution and Gas Storage. The Company maintains operations in Oregon Washington and California and conducts businesses through NW Natural and its subsidiaries. The local gas distribution business referred to as the utility segment serves residential commercial and industrial customers in Oregon and southwest Washington; and the gas storage business referred to as the gas storage segment provides storage services for utilities gas marketers electric generators and industrial users from storage facilities located in Oregon and California. As of December 31 2014 the Company had 700000 customers with around 89% located in Oregon and 11% located in Washington. It provides natural gas service to over 100 cities in around 18 counties.