NW Natural (NWN)
Operator of regulated gas, water, and wastewater utilities across the western United States.
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Owns regulated natural gas utilities in the Pacific Northwest and Texas, plus water and wastewater systems across the western United States. Customer bills fund gas, water, and wastewater service, while commission-approved rates and cost recovery make regulation central to earnings.
Owns regulated gas, water, and wastewater utilities, alongside a small nonregulated renewable natural gas business. NW Natural distributes gas to residential, commercial, and industrial customers in Oregon and southwest Washington and operates storage assets; SiEnergy serves residential and commercial customers around Houston, Dallas-Fort Worth, and Austin, with related Texas transmission operations.
NW Natural Water provides regulated water and wastewater service in Oregon, Washington, Idaho, Arizona, and Texas, plus contract operations in parts of the West. Expansion comes from connecting new utility customers, investing in distribution systems, and acquiring water systems and Texas gas utilities.
The Pacific Northwest gas utility remains the largest operating business. Most activities earn through commission-approved rates and cost recovery, while interstate storage services are federally regulated.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 6, 2026 | Wells Fargo | Upgrade | ||
| May 11, 2026 | Wells Fargo | Target | Target: $55 | Target: $50 |
| Apr 16, 2026 | Cowen & Co. | Target | Target: — | Target: $58 |
| Mar 4, 2026 | Stifel Nicolaus | Target | Target: $45 | Target: $58 |
| Jan 30, 2026 | BTIG | Target | Target: $53 | Target: $55 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $24.2M · Total debt $2.70B · Total assets $6.44B · Shareholders' equity $1.56B
- Revenue
- $243.6M
- Operating income
- $33.2M
- Net income
- $600.0K
HistoryDividendAnnual yield
| Institutions | 82.89% | 34.89M shares | |
|---|---|---|---|
| 323 holders · as of Jun 30, 2026 | |||
| Insiders | 0.62% | 259.5K shares | |
| 19 holders · as of Sep 21, 2026 | |||
| Other | 16.49% | 6.94M shares | |
| remainder | |||
42.09M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 15.94% | 6.71M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 6.50% | 2.73M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.51% | 1.90M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.11% | 1.73M | as of Jun 30, 2026 |
Vaughan Nelson Investment Management, L.P.Institution | 3.47% | 1.46M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 18, 2026 | David Hugo Anderson | director | −1,500 | $48.03 |
| Aug 18, 2026 | David Hugo Anderson | director | −1,500 | $50.86 |
| Jul 20, 2026 | David Hugo Anderson | director | −1,500 | $51.18 |
| Jun 26, 2026 | David Hugo Anderson | director | −1,500 | $50.90 |
| May 12, 2026 | Peter J. Bragdon | director | +400 | $50.32 |
- The MDU Resources Group
Parent of Cascade Natural Gas — adjacent OR/WA franchise and CPP co-litigant
- Avista
Regulated electric-and-gas utility under OPUC and WUTC; CPP co-litigant
- Essential Utilities
Other public water+gas holding co; Aqua + Peoples; AWK merger pending
- ONE Gas
Pure-play OK/KS/TX gas LDC; Texas Gas Service overlaps SiEnergy in Austin metro
- American Water Works
Largest US public water utility (14 states); benchmark for NWN Water
- Southwest Gas
Pure-play AZ/NV/CA gas LDC (~2.28M customers); same-household overlap in Arizona
- Atmos Energy
Largest US pure-play gas LDC; Mid-Tex adjacent to SiEnergy in DFW/Austin
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| NW Natural | $47.79 | 0.00% | $2.02B | 15.7 | 14.9 | 1.6 | +3.1% |
| The MDU Resources Group | $18.56 | −0.03% | $3.88B | 19.5 | 18.3 | 2.1 | +6.8% |
| Avista | $36.00 | −0.06% | $3.02B | 13.0 | 13.7 | 1.6 | +0.5% |
| Essential Utilities | $40.44 | +0.10% | $11.48B | 20.7 | 17.5 | 4.5 | +3.1% |
| ONE Gas | $73.57 | −0.08% | $4.66B | 16.0 | 14.9 | 2.0 | −2.9% |
| American Water Works | $133.82 | −0.01% | $26.62B | 23.2 | 21.9 | 5.0 | +6.2% |
| Southwest Gas | $83.49 | −0.07% | $6.13B | 11.8 | 17.9 | 3.5 | −68.0% |
| Atmos Energy | $157.25 | −0.08% | $26.42B | 18.8 | 17.6 | 5.4 | +4.8% |
| Median | 18.8 | 17.6 | 3.5 | +3.1% |