Robecosam AG reduced its stake in shares of Northwest Natural Gas Company (NYSE:NWN) by 21.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,000 shares of the utilities provider’s stock after selling 20,000 shares during the period. Robecosam AG owned about 0.26% of Northwest Natural Gas worth $4,478,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in NWN. BlackRock Inc. grew its holdings in Northwest Natural Gas by 12,672.6% during the 1st quarter. BlackRock Inc. now owns 3,607,352 shares of the utilities provider’s stock worth $213,194,000 after acquiring an additional 3,579,109 shares in the last quarter. Vanguard Group Inc. grew its holdings in Northwest Natural Gas by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 2,703,884 shares of the utilities provider’s stock worth $159,800,000 after acquiring an additional 120,458 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Northwest Natural Gas by 22.0% during the 1st quarter. Renaissance Technologies LLC now owns 404,900 shares of the utilities provider’s stock worth $23,930,000 after acquiring an additional 73,000 shares in the last quarter. First Trust Advisors LP grew its holdings in Northwest Natural Gas by 13.9% during the 2nd quarter. First Trust Advisors LP now owns 368,087 shares of the utilities provider’s stock worth $22,030,000 after acquiring an additional 44,973 shares in the last quarter. Finally, State Street Corp grew its holdings in Northwest Natural Gas by 5.1% during the 2nd quarter. State Street Corp now owns 736,047 shares of the utilities provider’s stock worth $44,053,000 after acquiring an additional 35,852 shares in the last quarter. 63.32% of the stock is owned by institutional investors.
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In other Northwest Natural Gas news, VP Grant M. Yoshihara sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $66.03, for a total value of $132,060.00. Following the sale, the vice president now owns 15,301 shares of the company’s stock, valued at approximately $1,010,325.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David Hugo Anderson sold 8,000 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $66.97, for a total transaction of $535,760.00. Following the completion of the sale, the chief executive officer now directly owns 71,484 shares in the company, valued at approximately $4,787,283.48. The disclosure for this sale can be found here. Insiders sold a total of 13,202 shares of company stock worth $879,666 in the last three months. Insiders own 1.48% of the company’s stock.
Northwest Natural Gas Company (NYSE:NWN) traded up 0.38% on Friday, hitting $66.25. 13,175 shares of the stock traded hands. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 29.64 and a beta of 0.42. The stock has a 50-day moving average of $65.86 and a 200-day moving average of $62.40. Northwest Natural Gas Company has a 12-month low of $53.50 and a 12-month high of $68.60.
Northwest Natural Gas (NYSE:NWN) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.04. The firm had revenue of $136.24 million for the quarter, compared to analyst estimates of $78.51 million. Northwest Natural Gas had a net margin of 8.38% and a return on equity of 7.51%. The business’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 EPS. Analysts forecast that Northwest Natural Gas Company will post $2.17 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be issued a $0.4725 dividend. This represents a $1.89 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Monday, October 30th. This is a positive change from Northwest Natural Gas’s previous quarterly dividend of $0.47. Northwest Natural Gas’s payout ratio is 85.07%.
Several brokerages have weighed in on NWN. Zacks Investment Research lowered shares of Northwest Natural Gas from a “buy” rating to a “hold” rating in a report on Wednesday, September 13th. BidaskClub raised shares of Northwest Natural Gas from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 5th. Finally, Sidoti reaffirmed a “buy” rating and issued a $75.00 price target (up from $68.00) on shares of Northwest Natural Gas in a report on Monday, June 19th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $66.00.
Northwest Natural Gas Company Profile
Northwest Natural Gas Company (NW Natural) is engaged in the distribution of natural gas. The Company’s segments include Local Gas Distribution, Gas Storage and other. The Company maintains operations in Oregon, Washington and California and conducts businesses through NW Natural and its subsidiaries.
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