Northwest Natural Holding Company’s (NWN - Free Report) strong fundamentals and solid financial position with favorable growth estimates make it a good investment choice.
Northwest Natural Holding currently carries a Zacks Rank #2 (Buy).
Growth Projections
The Zacks Consensus Estimate for 2023 and 2024 earnings is pegged at $2.70 and $2.86 per share, respectively, reflecting an increase of 0.7% and 0.4%, respectively, in the past 60 days.
The Zacks Consensus Estimate for 2023 and 2024 sales is pinned at $1.21 billion and $1.27 billion, respectively, implying year-over-year growth of 16.7% and 4.8%, respectively.
Dividend Yield & Long-Term Earnings Growth
Northwest Natural Holding’s current dividend yield is 4.46%, better than the industry’s average yield of 3.22%.
NWN’s long-term (three- to five-year) earnings growth rate is currently projected at 3.7%.
Customer Growth
Northwest Natural Holding is experiencing strong customer growth, which will continue to boost demand for its services. The company anticipates its Gas utility customers to continue expanding by 1.1% per year and its organic customer growth for the water division is 3.2% compounded annually from 2022-27.
Strong Long-Term Growth Plan
Northwest Natural Holding continues to follow a systematic capital investment plan for infrastructure development and maintains the reliability of its gas and water delivery systems. The company has a capital expenditure plan in the range of $1.39-$1.61 billion for the 2023-2027 period.
Price Performance
In the past six months the stock has lost 9.2%, a tad narrower than the industry’s decline of 9.3%.
Other Stocks to Consider
A few other top-ranked stocks from the same sector are Consolidated Edison (ED - Free Report) , NiSource (NI - Free Report) and NewJersey Resources (NJR - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The long-term earnings growth of Consolidated Edison, NiSource and NewJersey Resources is projected at 2%, 6.9% and 6%, respectively.
In the past 60 days, the Zacks Consensus Estimate for Consolidated Edison and NiSource’s 2023 earnings moved north by 0.2% and 0.5%, respectively. In the same frame, the Zacks Consensus Estimate for NewJersey Resources’ fiscal 2023 earnings moved up by 0.4%.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Northwest Natural Holding Company’s (NWN - Free Report) strong fundamentals and solid financial position with favorable growth estimates make it a good investment choice.
Northwest Natural Holding currently carries a Zacks Rank #2 (Buy).
Growth Projections
The Zacks Consensus Estimate for 2023 and 2024 earnings is pegged at $2.70 and $2.86 per share, respectively, reflecting an increase of 0.7% and 0.4%, respectively, in the past 60 days.
The Zacks Consensus Estimate for 2023 and 2024 sales is pinned at $1.21 billion and $1.27 billion, respectively, implying year-over-year growth of 16.7% and 4.8%, respectively.
Dividend Yield & Long-Term Earnings Growth
Northwest Natural Holding’s current dividend yield is 4.46%, better than the industry’s average yield of 3.22%.
NWN’s long-term (three- to five-year) earnings growth rate is currently projected at 3.7%.
Customer Growth
Northwest Natural Holding is experiencing strong customer growth, which will continue to boost demand for its services. The company anticipates its Gas utility customers to continue expanding by 1.1% per year and its organic customer growth for the water division is 3.2% compounded annually from 2022-27.
Strong Long-Term Growth Plan
Northwest Natural Holding continues to follow a systematic capital investment plan for infrastructure development and maintains the reliability of its gas and water delivery systems. The company has a capital expenditure plan in the range of $1.39-$1.61 billion for the 2023-2027 period.
Price Performance
In the past six months the stock has lost 9.2%, a tad narrower than the industry’s decline of 9.3%.
Other Stocks to Consider
A few other top-ranked stocks from the same sector are Consolidated Edison (ED - Free Report) , NiSource (NI - Free Report) and NewJersey Resources (NJR - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The long-term earnings growth of Consolidated Edison, NiSource and NewJersey Resources is projected at 2%, 6.9% and 6%, respectively.
In the past 60 days, the Zacks Consensus Estimate for Consolidated Edison and NiSource’s 2023 earnings moved north by 0.2% and 0.5%, respectively. In the same frame, the Zacks Consensus Estimate for NewJersey Resources’ fiscal 2023 earnings moved up by 0.4%.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
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