Maxim Group’s Outlook for This Canada’s Energy Sector Company

In a report released yesterday, Tate Sullivan from Maxim Group maintained a Buy rating on Northwest Gas (NWNResearch Report), with a price target of $62.00. The company’s shares closed last Thursday at $49.02.

According to TipRanks.com, Sullivan is a 5-star analyst with an average return of 19.1% and a 45.0% success rate. Sullivan covers the Industrial Goods sector, focusing on stocks such as Natural Gas Services Group, Ceco Environmental, and Seanergy Maritime.

Currently, the analyst consensus on Northwest Gas is a Moderate Buy with an average price target of $55.00.

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Based on Northwest Gas’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $294 million and net profit of $40.53 million. In comparison, last year the company earned revenue of $260 million and had a net profit of $52.05 million.

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Northwest Natural Holding Co. operates through its subsidiaries, which engages in the local distribution of gas and water. It supplies natural gas to residential, commercial, and industrial customers in Oregon and southwest Washington. The company is headquartered in Portland, OR.

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