ATO - Northwest Natural: Strong Earnings Stability As Company Moves Into Renewables

• Northwest Natural Holding's latest results show the overall stability that we have come to expect from a natural gas utility.
• The YOY net income decline was caused by a one-off event and is not indicative of any problems at the company.
• The company continues to grow its customer base, which has been having a positive effect on its net income and revenues.
• The stock is positioned to deliver an 8% to 10% total return over the next five years.
• The company appears to be somewhat overvalued at the current price, so it may make sense to wait for the price to come down.

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