Northwest Natural Holding Co. (NWN)

In Q1 2026, the company reported an adjusted EPS of $2.28, missing the forecasted $2.35, and revenue of $490.4 million, below the expected $540.69 million. In Q4 2025, NWN delivered record adjusted EPS of $2.93 for 2025, topping guidance, and Q4 adjusted EPS of $1.39, beating consensus estimates. NW Natural Holdings announced a dividend on April 9, 2026, and increased its dividend for the 70th consecutive year in November 2025. NW Natural filed a settlement in its Washington general rate case, outlining revenue requirement increases starting August 1, 2026. The acquisition of SiEnergy significantly expanded NW Natural's footprint into the Texas market and contributed to customer growth. The stock has shown positive momentum, with a 13.1% year-to-date total return and a 26.6% return over the past year as of early May 2026. The 52-week range for NWN stock has been between $39.10 and $55.99.

Demand for natural gas is highest during the heating season (winter). Demand for water services is highest in the third quarter (summer) and lower in the first quarter. The company's underground gas storage capacity helps manage seasonal demand spikes for natural gas.

Northwest Natural Holding Co. operates in the Utilities sector, specifically in the Gas Utilities industry, distributing natural gas to residential, commercial, and industrial customers. The company serves approximately 800,000 natural gas customers through regulated natural gas distribution. NWN owns and operates underground gas storage facilities in Oregon, with a capacity of 5.7 billion cubic feet, and provides gas storage services. Through NW Natural Water, the company serves over 189,000 individuals via approximately 76,100 meters as of January 2025. NW Natural Renewables is involved in decarbonization initiatives and the pursuit of unregulated renewable natural gas activities.

NW Natural Gas Company serves customers across Oregon and Southwest Washington. Through the acquisition of SiEnergy Operating, LLC in January 2025, NWN expanded its natural gas distribution into key Texas markets, including the greater metropolitan areas of Houston, Dallas, and Austin. NW Natural Water provides services to customers in Oregon, Washington, Idaho, Texas, and Arizona.

Northwest Natural Holding Co. has generally maintained a strong brand reputation and consistently ranks high in customer satisfaction. NW Natural Holdings has been recognized by Ethisphere® as one of the World's Most Ethical Companies®. However, a $50 billion lawsuit was filed in October 2024 against NW Natural and other fossil fuel companies, alleging they knew that burning natural gas contributed to climate change but deceived customers about the risks.

Institutional investors hold approximately 77.61% as of March 31, 2025, and 78.58% as of May 2026 of the company's outstanding shares. BlackRock, Inc. is the largest shareholder with 17% of shares outstanding, followed by The Vanguard Group Inc. with 12% of shares outstanding, and State Street Corp with 4.8% of shares outstanding. The general public holds approximately 21% of the company's ownership, or 19.67% retail investors. Insiders own less than 1% of Northwest Natural Holding Co.