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Northwest Natural Gas Co (NWN)



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Upturn Advisory Summary
10/14/2025: NWN (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $52
1 Year Target Price $52
3 | Strong Buy |
0 | Buy |
2 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -14.91% | Avg. Invested days 40 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 1.82B USD | Price to earnings Ratio 17.28 | 1Y Target Price 52 |
Price to earnings Ratio 17.28 | 1Y Target Price 52 | ||
Volume (30-day avg) 5 | Beta 0.57 | 52 Weeks Range 36.70 - 45.07 | Updated Date 10/14/2025 |
52 Weeks Range 36.70 - 45.07 | Updated Date 10/14/2025 | ||
Dividends yield (FY) 4.47% | Basic EPS (TTM) 2.57 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 8.34% | Operating Margin (TTM) 11.52% |
Management Effectiveness
Return on Assets (TTM) 2.86% | Return on Equity (TTM) 7.36% |
Valuation
Trailing PE 17.28 | Forward PE 15.15 | Enterprise Value 4172949714 | Price to Sales(TTM) 1.47 |
Enterprise Value 4172949714 | Price to Sales(TTM) 1.47 | ||
Enterprise Value to Revenue 3.37 | Enterprise Value to EBITDA 9.93 | Shares Outstanding 40938429 | Shares Floating 40692389 |
Shares Outstanding 40938429 | Shares Floating 40692389 | ||
Percent Insiders 0.72 | Percent Institutions 83.2 |
Upturn AI SWOT
Northwest Natural Gas Co

Company Overview
History and Background
Northwest Natural Gas Co., now NW Natural Holdings (NWN), was founded in 1859 as the Portland Gas Light Company. It has evolved from a local gas distribution utility to a diversified energy and water infrastructure holding company, expanding its service territory and business operations through acquisitions and strategic initiatives.
Core Business Areas
- Natural Gas Distribution: Distribution of natural gas to residential, commercial, and industrial customers in Oregon and southwest Washington.
- Water and Wastewater Services: Provides water and wastewater utility services through its NW Natural Water subsidiary.
- Other: Includes gas storage facilities and renewable natural gas activities.
Leadership and Structure
NW Natural Holdings is led by a Board of Directors and an executive management team. The company's structure includes various departments overseeing operations, finance, strategy, and regulatory affairs.
Top Products and Market Share
Key Offerings
- Natural Gas Distribution: Delivery of natural gas to homes and businesses for heating, cooking, and industrial processes. NW Natural has a significant market share in its service territory (Oregon and Southwest Washington), estimated to be around 60-70%. Competitors include electric utilities and propane providers.
- Water and Wastewater Services: Provision of potable water and wastewater treatment to communities. Market share varies depending on the specific service area. Competitors include other municipal and private water utilities. This is a growing segment for the company.
- Renewable Natural Gas: Procurement and supply of RNG for its customer base. The amount of RNG that the company provides is small as a percentage of the overall gas distributed.
Market Dynamics
Industry Overview
The natural gas distribution industry is characterized by its regulated nature, infrastructure-intensive operations, and reliance on commodity prices. The water utility industry is similarly regulated and focused on providing essential services. Both industries are impacted by environmental regulations and the transition to renewable energy sources.
Positioning
NW Natural is a well-established utility with a strong regional presence. Its diversification into water utilities provides a hedge against fluctuations in the natural gas market. Its competitive advantage lies in its infrastructure, regulatory relationships, and customer base.
Total Addressable Market (TAM)
The TAM for natural gas distribution in the US is estimated to be in the billions of dollars annually, driven by residential and commercial heating needs. The water utility TAM is also significant, reflecting the essential nature of water services. NW Natural's position allows it to capture a portion of these markets, particularly in the Pacific Northwest region.
Upturn SWOT Analysis
Strengths
- Established regional presence
- Diversified operations (gas and water)
- Stable regulatory environment
- Reliable infrastructure
- Experienced management team
Weaknesses
- Dependence on natural gas commodity prices
- Exposure to regulatory changes
- Capital-intensive operations
- Geographic concentration (Pacific Northwest)
- Vulnerable to adverse weather conditions
Opportunities
- Expansion of water utility business
- Investment in renewable natural gas
- Infrastructure modernization
- Acquisition of smaller utilities
- Growth in renewable energy projects
Threats
- Increasing competition from renewable energy sources
- Stringent environmental regulations
- Fluctuations in natural gas prices
- Economic downturns
- Cybersecurity risks
Competitors and Market Share
Key Competitors
- ONE
- UGI
- SJI
Competitive Landscape
NW Natural competes with other natural gas utilities, as well as electric utilities and alternative energy providers. Its diversification into water utilities provides a competitive advantage. NWN is focused on a environmentally focused model.
Growth Trajectory and Initiatives
Historical Growth: NW Natural's growth has been driven by organic expansion in its service territory, acquisitions of water utilities, and investments in renewable energy.
Future Projections: Analyst estimates suggest moderate growth for NW Natural, driven by population growth in the Pacific Northwest, expansion of its water business, and investments in renewable energy.
Recent Initiatives: Recent initiatives include investments in renewable natural gas projects, expansion of its water utility business through acquisitions, and infrastructure modernization projects.
Summary
NW Natural is a stable utility company with a strong regional presence and a growing water utility business. Its reliable infrastructure and regulated environment offer predictable revenue streams. However, the company faces challenges from increasing competition from renewable energy and fluctuations in natural gas prices. NW Natural is focused on infrastructure modernization and renewable energy investments to address these challenges and drive future growth.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company filings, Financial news websites, Industry reports, Analyst estimates
Disclaimers:
This analysis is based on publicly available information and should not be considered financial advice. Market conditions can change rapidly. Consult with a financial professional before making investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Northwest Natural Gas Co
Exchange NYSE | Headquaters Portland, OR, United States | ||
IPO Launch date 1990-03-26 | President, CEO & Director Mr. Justin B. Palfreyman | ||
Sector Utilities | Industry Utilities - Regulated Gas | Full time employees 1452 | |
Full time employees 1452 |
Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, and industrial customers in the United States. The company operates mist gas storage facility contracted to other utilities, third-party marketers, and electric generators; offers natural gas asset management services; and operates an appliance retail center. It also engages in gas storage, water and wastewater, non-regulated renewable natural gas, and other investment businesses. In addition, the company offers natural gas service in Oregon and southwest Washington; and water and wastewater connections. Northwest Natural Holding Company was founded in 1859 and is headquartered in Portland, Oregon.

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