西北天然气股价创60日新高，受政策与业绩预期推动

Core Viewpoint - Northwest Natural Gas (NWN.N) stock has recently performed strongly, breaking a 60-day high, driven by policy support, tightening global natural gas supply and demand, improved earnings expectations, and capital inflows [1] Industry Policy Status - The State Council's implementation opinion aims for 70% of market-based electricity trading by 2030, emphasizing the transitional role of natural gas in energy transformation [2] - The global low-carbon transition report indicates accelerated CCUS (Carbon Capture, Utilization, and Storage) projects, with expanded applications of natural gas in hydrogen energy further boosting market expectations [2] - U.S. liquefied natural gas exports reached a record 10.9 million tons in November 2025, with European demand accounting for 70%, tightening the supply-demand landscape and pushing natural gas prices past key technical resistance levels [2] Stock and Capital Performance - As of February 13, 2026, NWN.N closed at $50.20, up 0.75% for the day, marking a 60-day high; the stock has increased by 8.00% over the last 20 days and 8.53% year-to-date [3] - The energy and power sector rose by 1.72%, while the Nasdaq index fell by 1.60%, indicating NWN.N's independent performance from broader market weakness [3] - Trading volume increased to $3.0489 million, with a volume ratio of 0.83, showing a moderate recovery in capital participation [3] Company Fundamentals - The company's core business is highly concentrated in natural gas distribution, accounting for 93.30% of revenue, directly benefiting from industry demand growth [4] - Forecasts indicate a 34.91% year-on-year increase in earnings per share for Q1 2025, with net profit expected to grow by 37.75% [4] - The current price-to-earnings ratio (TTM) is 20.00, with a dividend yield of 3.91%, suggesting the valuation is within a reasonable range [4] - Over the past two months, institutional ratings have shown that buy or hold opinions have remained stable at over 67%, with an average target price of $53.50 [4]