Intrinsic value of Northwest Natural Gas - NWN

Previous Close

$66.70

  Intrinsic Value

$260.67

stock screener

  Rating & Target

str. buy

+291%

Previous close

$66.70

 
Intrinsic value

$260.67

 
Up/down potential

+291%

 
Rating

str. buy

We calculate the intrinsic value of NWN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -6.63
  37.40
  34.16
  31.24
  28.62
  26.26
  24.13
  22.22
  20.50
  18.95
  17.55
  16.30
  15.17
  14.15
  13.24
  12.41
  11.67
  11.00
  10.40
  9.86
  9.38
  8.94
  8.55
  8.19
  7.87
  7.58
  7.33
  7.09
  6.88
  6.70
  6.53
Revenue, $m
  676
  929
  1,246
  1,635
  2,104
  2,656
  3,297
  4,029
  4,855
  5,775
  6,789
  7,895
  9,092
  10,379
  11,753
  13,212
  14,754
  16,377
  18,081
  19,864
  21,727
  23,669
  25,691
  27,796
  29,984
  32,258
  34,621
  37,077
  39,629
  42,283
  45,042
Variable operating expenses, $m
 
  769
  1,032
  1,354
  1,742
  2,199
  2,730
  3,336
  4,020
  4,782
  5,621
  6,537
  7,529
  8,594
  9,731
  10,939
  12,216
  13,560
  14,971
  16,447
  17,990
  19,598
  21,272
  23,015
  24,826
  26,709
  28,666
  30,700
  32,813
  35,010
  37,295
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  537
  769
  1,032
  1,354
  1,742
  2,199
  2,730
  3,336
  4,020
  4,782
  5,621
  6,537
  7,529
  8,594
  9,731
  10,939
  12,216
  13,560
  14,971
  16,447
  17,990
  19,598
  21,272
  23,015
  24,826
  26,709
  28,666
  30,700
  32,813
  35,010
  37,295
Operating income, $m
  139
  160
  214
  281
  362
  457
  567
  693
  835
  993
  1,168
  1,358
  1,564
  1,785
  2,021
  2,272
  2,538
  2,817
  3,110
  3,417
  3,737
  4,071
  4,419
  4,781
  5,157
  5,548
  5,955
  6,377
  6,816
  7,273
  7,747
EBITDA, $m
  221
  246
  330
  433
  557
  703
  872
  1,066
  1,285
  1,528
  1,796
  2,089
  2,406
  2,746
  3,110
  3,496
  3,904
  4,333
  4,784
  5,256
  5,749
  6,263
  6,798
  7,355
  7,934
  8,535
  9,161
  9,811
  10,486
  11,188
  11,918
Interest expense (income), $m
  36
  34
  70
  116
  172
  240
  320
  413
  519
  638
  771
  918
  1,078
  1,251
  1,437
  1,635
  1,846
  2,069
  2,304
  2,550
  2,808
  3,078
  3,358
  3,651
  3,955
  4,272
  4,600
  4,942
  5,297
  5,666
  6,050
Earnings before tax, $m
  100
  126
  144
  165
  189
  217
  247
  280
  317
  355
  397
  440
  486
  535
  585
  637
  691
  748
  806
  866
  929
  993
  1,060
  1,130
  1,202
  1,277
  1,354
  1,435
  1,519
  1,606
  1,697
Tax expense, $m
  41
  34
  39
  45
  51
  59
  67
  76
  85
  96
  107
  119
  131
  144
  158
  172
  187
  202
  218
  234
  251
  268
  286
  305
  325
  345
  366
  387
  410
  434
  458
Net income, $m
  59
  92
  105
  121
  138
  158
  180
  205
  231
  259
  290
  321
  355
  390
  427
  465
  505
  546
  588
  632
  678
  725
  774
  825
  877
  932
  989
  1,048
  1,109
  1,173
  1,239

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  4
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,080
  4,222
  5,664
  7,434
  9,561
  12,072
  14,985
  18,315
  22,069
  26,250
  30,857
  35,886
  41,329
  47,178
  53,422
  60,053
  67,062
  74,441
  82,185
  90,291
  98,758
  107,586
  116,779
  126,344
  136,289
  146,626
  157,368
  168,531
  180,132
  192,193
  204,736
Adjusted assets (=assets-cash), $m
  3,076
  4,222
  5,664
  7,434
  9,561
  12,072
  14,985
  18,315
  22,069
  26,250
  30,857
  35,886
  41,329
  47,178
  53,422
  60,053
  67,062
  74,441
  82,185
  90,291
  98,758
  107,586
  116,779
  126,344
  136,289
  146,626
  157,368
  168,531
  180,132
  192,193
  204,736
Revenue / Adjusted assets
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
Average production assets, $m
  313
  430
  577
  757
  974
  1,230
  1,526
  1,866
  2,248
  2,674
  3,143
  3,655
  4,210
  4,806
  5,442
  6,117
  6,831
  7,583
  8,371
  9,197
  10,059
  10,959
  11,895
  12,869
  13,882
  14,935
  16,030
  17,167
  18,348
  19,577
  20,854
Working capital, $m
  13
  140
  188
  247
  318
  401
  498
  608
  733
  872
  1,025
  1,192
  1,373
  1,567
  1,775
  1,995
  2,228
  2,473
  2,730
  2,999
  3,281
  3,574
  3,879
  4,197
  4,528
  4,871
  5,228
  5,599
  5,984
  6,385
  6,801
Total debt, $m
  773
  1,596
  2,639
  3,919
  5,457
  7,272
  9,378
  11,786
  14,500
  17,523
  20,854
  24,490
  28,425
  32,654
  37,168
  41,962
  47,030
  52,365
  57,964
  63,825
  69,946
  76,328
  82,975
  89,891
  97,081
  104,555
  112,321
  120,392
  128,780
  137,500
  146,568
Total liabilities, $m
  2,229
  3,052
  4,095
  5,375
  6,913
  8,728
  10,834
  13,242
  15,956
  18,979
  22,310
  25,946
  29,881
  34,110
  38,624
  43,418
  48,486
  53,821
  59,420
  65,281
  71,402
  77,784
  84,431
  91,347
  98,537
  106,011
  113,777
  121,848
  130,236
  138,956
  148,024
Total equity, $m
  851
  1,169
  1,569
  2,059
  2,649
  3,344
  4,151
  5,073
  6,113
  7,271
  8,548
  9,941
  11,448
  13,068
  14,798
  16,635
  18,576
  20,620
  22,765
  25,011
  27,356
  29,801
  32,348
  34,997
  37,752
  40,615
  43,591
  46,683
  49,897
  53,238
  56,712
Total liabilities and equity, $m
  3,080
  4,221
  5,664
  7,434
  9,562
  12,072
  14,985
  18,315
  22,069
  26,250
  30,858
  35,887
  41,329
  47,178
  53,422
  60,053
  67,062
  74,441
  82,185
  90,292
  98,758
  107,585
  116,779
  126,344
  136,289
  146,626
  157,368
  168,531
  180,133
  192,194
  204,736
Debt-to-equity ratio
  0.908
  1.370
  1.680
  1.900
  2.060
  2.170
  2.260
  2.320
  2.370
  2.410
  2.440
  2.460
  2.480
  2.500
  2.510
  2.520
  2.530
  2.540
  2.550
  2.550
  2.560
  2.560
  2.570
  2.570
  2.570
  2.570
  2.580
  2.580
  2.580
  2.580
  2.580
Adjusted equity ratio
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  59
  92
  105
  121
  138
  158
  180
  205
  231
  259
  290
  321
  355
  390
  427
  465
  505
  546
  588
  632
  678
  725
  774
  825
  877
  932
  989
  1,048
  1,109
  1,173
  1,239
Depreciation, amort., depletion, $m
  82
  86
  115
  151
  195
  246
  305
  373
  450
  535
  629
  731
  842
  961
  1,088
  1,223
  1,366
  1,517
  1,674
  1,839
  2,012
  2,192
  2,379
  2,574
  2,776
  2,987
  3,206
  3,433
  3,670
  3,915
  4,171
Funds from operations, $m
  246
  178
  221
  272
  333
  404
  486
  578
  681
  794
  918
  1,053
  1,197
  1,351
  1,515
  1,688
  1,871
  2,062
  2,263
  2,472
  2,690
  2,917
  3,153
  3,399
  3,654
  3,919
  4,195
  4,481
  4,779
  5,088
  5,410
Change in working capital, $m
  24
  38
  48
  59
  71
  83
  97
  111
  125
  139
  153
  167
  181
  194
  207
  220
  233
  245
  257
  269
  281
  293
  305
  318
  330
  343
  357
  371
  385
  401
  417
Cash from operations, $m
  222
  140
  173
  213
  262
  321
  389
  467
  556
  655
  765
  885
  1,016
  1,157
  1,308
  1,468
  1,638
  1,817
  2,005
  2,202
  2,409
  2,624
  2,848
  3,081
  3,324
  3,576
  3,838
  4,110
  4,393
  4,687
  4,993
Maintenance CAPEX, $m
  0
  -63
  -86
  -115
  -151
  -195
  -246
  -305
  -373
  -450
  -535
  -629
  -731
  -842
  -961
  -1,088
  -1,223
  -1,366
  -1,517
  -1,674
  -1,839
  -2,012
  -2,192
  -2,379
  -2,574
  -2,776
  -2,987
  -3,206
  -3,433
  -3,670
  -3,915
New CAPEX, $m
  -140
  -117
  -147
  -180
  -217
  -256
  -297
  -339
  -382
  -426
  -469
  -512
  -554
  -596
  -636
  -675
  -714
  -752
  -789
  -826
  -862
  -899
  -936
  -974
  -1,013
  -1,053
  -1,094
  -1,137
  -1,182
  -1,229
  -1,278
Cash from investing activities, $m
  -137
  -180
  -233
  -295
  -368
  -451
  -543
  -644
  -755
  -876
  -1,004
  -1,141
  -1,285
  -1,438
  -1,597
  -1,763
  -1,937
  -2,118
  -2,306
  -2,500
  -2,701
  -2,911
  -3,128
  -3,353
  -3,587
  -3,829
  -4,081
  -4,343
  -4,615
  -4,899
  -5,193
Free cash flow, $m
  85
  -40
  -60
  -82
  -106
  -130
  -154
  -177
  -200
  -220
  -239
  -255
  -269
  -281
  -289
  -296
  -299
  -301
  -300
  -297
  -293
  -287
  -280
  -272
  -263
  -254
  -243
  -233
  -222
  -211
  -200
Issuance/(repayment) of debt, $m
  -92
  827
  1,043
  1,279
  1,538
  1,815
  2,106
  2,407
  2,714
  3,023
  3,331
  3,636
  3,935
  4,228
  4,515
  4,794
  5,067
  5,335
  5,599
  5,861
  6,121
  6,383
  6,647
  6,915
  7,190
  7,473
  7,766
  8,071
  8,388
  8,720
  9,068
Issuance/(repurchase) of shares, $m
  60
  227
  294
  370
  451
  537
  627
  718
  809
  899
  987
  1,072
  1,153
  1,230
  1,303
  1,372
  1,437
  1,498
  1,557
  1,613
  1,667
  1,720
  1,772
  1,825
  1,877
  1,931
  1,987
  2,044
  2,105
  2,168
  2,235
Cash from financing (excl. dividends), $m  
  -34
  1,054
  1,337
  1,649
  1,989
  2,352
  2,733
  3,125
  3,523
  3,922
  4,318
  4,708
  5,088
  5,458
  5,818
  6,166
  6,504
  6,833
  7,156
  7,474
  7,788
  8,103
  8,419
  8,740
  9,067
  9,404
  9,753
  10,115
  10,493
  10,888
  11,303
Total cash flow (excl. dividends), $m
  51
  1,014
  1,277
  1,567
  1,883
  2,223
  2,579
  2,948
  3,323
  3,702
  4,079
  4,452
  4,819
  5,178
  5,528
  5,870
  6,205
  6,533
  6,856
  7,176
  7,495
  7,815
  8,139
  8,468
  8,804
  9,151
  9,510
  9,882
  10,271
  10,678
  11,104
Retained Cash Flow (-), $m
  -70
  -318
  -399
  -490
  -589
  -695
  -807
  -922
  -1,040
  -1,158
  -1,276
  -1,393
  -1,508
  -1,620
  -1,730
  -1,837
  -1,941
  -2,044
  -2,145
  -2,245
  -2,345
  -2,445
  -2,547
  -2,649
  -2,755
  -2,863
  -2,975
  -3,092
  -3,214
  -3,341
  -3,474
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  696
  877
  1,076
  1,294
  1,527
  1,772
  2,025
  2,283
  2,543
  2,803
  3,059
  3,311
  3,558
  3,798
  4,033
  4,263
  4,489
  4,711
  4,931
  5,150
  5,370
  5,592
  5,818
  6,050
  6,288
  6,534
  6,790
  7,057
  7,337
  7,630
Discount rate, %
 
  7.30
  7.67
  8.05
  8.45
  8.87
  9.32
  9.78
  10.27
  10.79
  11.32
  11.89
  12.49
  13.11
  13.77
  14.45
  15.18
  15.93
  16.73
  17.57
  18.45
  19.37
  20.34
  21.35
  22.42
  23.54
  24.72
  25.96
  27.25
  28.62
  30.05
PV of cash for distribution, $m
 
  648
  757
  853
  936
  998
  1,038
  1,054
  1,044
  1,012
  959
  889
  807
  717
  624
  532
  445
  363
  291
  228
  174
  130
  95
  68
  47
  32
  21
  13
  8
  5
  3
Current shareholders' claim on cash, %
  100
  89.4
  80.4
  72.8
  66.4
  60.9
  56.2
  52.2
  48.7
  45.7
  43.1
  40.9
  38.9
  37.1
  35.5
  34.1
  32.9
  31.7
  30.7
  29.8
  28.9
  28.1
  27.4
  26.7
  26.1
  25.5
  25.0
  24.5
  24.0
  23.5
  23.1

Northwest Natural Gas Company (NW Natural) is engaged in the distribution of natural gas. The Company's segments include Local Gas Distribution, Gas Storage and other. 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. The Company's 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. The Company's other segment is referred to as non-utility and consists of non-utility investments and other business activities. The other segment consists of an equity method investment in Trail West Holdings, LLC (TWH) and other pipeline assets in NNG Financial Corporation.

FINANCIAL RATIOS  of  Northwest Natural Gas (NWN)

Valuation Ratios
P/E Ratio 32.4
Price to Sales 2.8
Price to Book 2.2
Price to Tangible Book
Price to Cash Flow 8.6
Price to Free Cash Flow 23.3
Growth Rates
Sales Growth Rate -6.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 18.6%
Cap. Spend. - 3 Yr. Gr. Rate 0.1%
Financial Strength
Quick Ratio 0
Current Ratio 0.6
LT Debt to Equity 79.9%
Total Debt to Equity 90.8%
Interest Coverage 4
Management Effectiveness
Return On Assets 2.6%
Ret/ On Assets - 3 Yr. Avg. 2.7%
Return On Total Capital 3.6%
Ret/ On T. Cap. - 3 Yr. Avg. 3.5%
Return On Equity 7.2%
Return On Equity - 3 Yr. Avg. 7.3%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 32.2%
EBITDA Margin - 3 Yr. Avg. 30.2%
Operating Margin 20.6%
Oper. Margin - 3 Yr. Avg. 18.9%
Pre-Tax Margin 14.8%
Pre-Tax Margin - 3 Yr. Avg. 13.4%
Net Profit Margin 8.7%
Net Profit Margin - 3 Yr. Avg. 8%
Effective Tax Rate 41%
Eff/ Tax Rate - 3 Yr. Avg. 40.4%
Payout Ratio 88.1%

NWN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the NWN stock intrinsic value calculation we used $676 million for the last fiscal year's total revenue generated by Northwest Natural Gas. The default revenue input number comes from 2016 income statement of Northwest Natural Gas. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our NWN stock valuation model: a) initial revenue growth rate of 37.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 7.3%, whose default value for NWN is calculated based on our internal credit rating of Northwest Natural Gas, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Northwest Natural Gas.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of NWN stock the variable cost ratio is equal to 82.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for NWN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4.4% for Northwest Natural Gas.

Corporate tax rate of 27% is the nominal tax rate for Northwest Natural Gas. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the NWN stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for NWN are equal to 46.3%.

Life of production assets of 3.8 years is the average useful life of capital assets used in Northwest Natural Gas operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for NWN is equal to 15.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $851 million for Northwest Natural Gas - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 28.722 million for Northwest Natural Gas is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Northwest Natural Gas at the current share price and the inputted number of shares is $1.9 billion.

RELATED COMPANIES Price Int.Val. Rating
SWX Southwest Gas 82.69 48.93  sell
CPK Chesapeake Uti 81.55 133.66  str.buy
MDU MDU Resources 26.78 17.26  sell
POR Portland Gener 49.34 43.90  hold
PCG PG&E 54.00 38.90  sell
ATO Atmos Energy 89.33 53.12  sell

COMPANY NEWS

▶ 3 Unknown but Amazing Dividend Stocks   [Nov-17-17 09:19AM  Motley Fool]
▶ Northwest Natural Gas reports 3Q loss   [Nov-06-17 05:38AM  Associated Press]
▶ NW Natural Increases Dividend for 62nd Consecutive Year   [Oct-05-17 05:33PM  GlobeNewswire]
▶ Northwest Natural Gas beats 2Q profit forecasts   [Aug-02-17 09:43PM  Associated Press]
▶ The Top Dividend-Growing Utilities Stocks   [Jul-12-17 02:44PM  Market Realist]
▶ NW Natural Announces Dividend   [Jul-06-17 06:35PM  GlobeNewswire]
▶ Northwest Natural Gas misses 1Q profit forecasts   [06:18AM  Associated Press]
▶ NW Natural Announces Dividend   [Apr-06-17 07:57PM  GlobeNewswire]
▶ Northwest Natural Gas misses 4Q profit forecasts   [06:19AM  Associated Press]
▶ NW Natural Announces Dividend   [Jan-12-17 06:11PM  GlobeNewswire]
▶ Should You Avoid Northwest Natural Gas Co (NWN)?   [Dec-12-16 02:45PM  at Insider Monkey]
▶ Hedge Funds Are Buying RealPage, Inc. (RP)   [10:40AM  at Insider Monkey]
▶ NW Natural Prices Public Offering of Common Stock   [Nov-10-16 10:03PM  GlobeNewswire]
▶ NW Natural Announces Common Stock Offering   [04:07PM  GlobeNewswire]
▶ Four Companies Rewarding Shareholders with a Raise   [Oct-10-16 11:08AM  at Insider Monkey]
▶ NW Natural Increases Dividend for 61st Consecutive Year   [Oct-06-16 06:35PM  GlobeNewswire]
Financial statements of NWN
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.