NWN - Steady Your Portfolio With Northwest Natural

Overview

Northwest Natural Holding Company (NWN) is a small-cap ($1.6 billion) utility headquartered in Portland, OR. NWN, which was founded in 1859, is predominantly a gas utility (~95% of FY 19 revenues) but also owns and operates a handful of water and wastewater utilities in the Western United States (~5% of FY 19 revenues). NWN’s gas service area comprises much of Western Oregon, as well as portions of Southern Washington.

Figure 1. NWN gas and water service areas and quick facts

(Source: Company Investor Presentation)

NWN shares have performed poorly in

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