Northwest Natural Holding

NWN · NYSE

$48.89+$0.93 (+1.94%)TodayMarket closed · Oct 20, 7:32 PM ET

Prev close $47.96

NWN analyst rating

HoldConsensus of 3 analysts over the last 12 months. 33% rate it a buy.

Strong buy0
Buy1
Hold2
Underperform0
Sell0

12-month price target · 7 analysts

Average $58.65 (+20.0% upside)

Low: $50.50
Now: $48.89
High: $64.05

Upgrades and downgrades

The latest rating actions, newest first

NWN analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Wells Fargo	Oct 20, 2026	Maintains	Equal-Weight	$50.00 → $49.00	40%
Wells Fargo	Aug 6, 2026	Upgrade	Underweight → Equal-Weight	$50.00	40%
Wells Fargo	May 12, 2026	Initiates	Underweight	$50.00	40%
TD Cowen	Apr 17, 2026	Initiates	Hold	$58.00	58%
Stifel	Mar 5, 2026	Maintains	Buy	$52.00 → $58.00	57%
Stifel	Nov 12, 2025	Maintains	Buy	$50.00 → $52.00	57%

The case for and against

Updated Nov 30, 2024

Bull case

Northwest Natural Holding Co is poised for a positive outlook due to several key factors, including the approval of its Oregon rate case, which is expected to enhance revenue by $93.3 million effective November 1st. The company has reported increased revenues attributed to gas storage and its expanding water and wastewater utilities, underscoring growth opportunities both organically and through acquisitions. Furthermore, the combination of a secure and growing dividend alongside an Investment Grade credit rating enhances its attractiveness to investors, highlighting its financial stability and potential for future earnings growth.

Bear case

Northwest Natural Holding Co faces a negative outlook due to a significant $10 million non-cash impact expected in the fourth quarter of 2024, resulting from regulatory decisions. The Oregon Public Utility Commission mandated that the company forgo $13.7 million in rate base related to line extension costs, further straining financial metrics. Additionally, the company is exposed to various risks, including unfavorable regulatory changes, declining natural gas demand, and competition from alternative energy sources, which could adversely affect its profitability and operational stability.

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