State Street Corp Grows Position in Northwest Natural Gas Company (NYSE:NWN)

State Street Corp raised its stake in Northwest Natural Gas Company (NYSE:NWN) by 5.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 736,047 shares of the utilities provider’s stock after buying an additional 35,852 shares during the quarter. State Street Corp owned approximately 2.57% of Northwest Natural Gas worth $44,053,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. D.A. Davidson & CO. grew its stake in Northwest Natural Gas by 61.0% during the 2nd quarter. D.A. Davidson & CO. now owns 2,111 shares of the utilities provider’s stock valued at $126,000 after acquiring an additional 800 shares in the last quarter. Sharkey Howes & Javer lifted its holdings in shares of Northwest Natural Gas by 0.8% during the 2nd quarter. Sharkey Howes & Javer now owns 2,217 shares of the utilities provider’s stock valued at $133,000 after buying an additional 17 shares during the last quarter. Riverhead Capital Management LLC lifted its holdings in shares of Northwest Natural Gas by 88.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,263 shares of the utilities provider’s stock valued at $136,000 after buying an additional 1,063 shares during the last quarter. Creative Planning lifted its holdings in shares of Northwest Natural Gas by 0.3% during the 2nd quarter. Creative Planning now owns 2,436 shares of the utilities provider’s stock valued at $146,000 after buying an additional 8 shares during the last quarter. Finally, Huntington National Bank lifted its holdings in shares of Northwest Natural Gas by 200.0% during the 2nd quarter. Huntington National Bank now owns 3,000 shares of the utilities provider’s stock valued at $180,000 after buying an additional 2,000 shares during the last quarter. Institutional investors own 63.73% of the company’s stock.

Several research firms recently weighed in on NWN. Zacks Investment Research upgraded Northwest Natural Gas from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a report on Tuesday, August 15th. BidaskClub upgraded Northwest Natural Gas from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $66.00.

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Northwest Natural Gas Company (NWN) traded up $0.10 during trading on Tuesday, reaching $66.65. The company’s stock had a trading volume of 131,200 shares, compared to its average volume of 116,962. The company has a current ratio of 0.98, a quick ratio of 0.69 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $1,910.00, a price-to-earnings ratio of 30.25, a P/E/G ratio of 6.82 and a beta of 0.39. Northwest Natural Gas Company has a one year low of $53.83 and a one year high of $68.60.

Northwest Natural Gas (NYSE:NWN) last posted its quarterly earnings data on Friday, November 3rd. The utilities provider reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.01. Northwest Natural Gas had a return on equity of 7.31% and a net margin of 8.32%. The company had revenue of $88.20 million for the quarter, compared to analyst estimates of $91.19 million. During the same quarter in the previous year, the firm earned $1.18 earnings per share. The business’s revenue was up .6% on a year-over-year basis. equities analysts forecast that Northwest Natural Gas Company will post 2.17 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be paid a dividend of $0.4725 per share. This represents a $1.89 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Monday, October 30th. This is a positive change from Northwest Natural Gas’s previous quarterly dividend of $0.47. Northwest Natural Gas’s dividend payout ratio is 85.91%.

In other Northwest Natural Gas news, VP Grant M. Yoshihara sold 2,000 shares of the stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $66.03, for a total value of $132,060.00. Following the completion of the sale, the vice president now directly owns 15,301 shares in the company, valued at $1,010,325.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Hugo Anderson sold 8,000 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $66.97, for a total value of $535,760.00. Following the transaction, the chief executive officer now owns 71,484 shares of the company’s stock, valued at $4,787,283.48. The disclosure for this sale can be found here. Insiders have sold 13,202 shares of company stock worth $879,666 in the last ninety days. 1.48% of the stock is currently owned by insiders.

Northwest Natural Gas 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.

Institutional Ownership by Quarter for Northwest Natural Gas (NYSE:NWN)

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