Edgestream Partners L.P. raised its position in shares of Northwest Natural Gas Company (NYSE:NWN – Free Report) by 54.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,660 shares of the utilities provider’s stock after acquiring an additional 70,773 shares during the period. Edgestream Partners L.P. owned approximately 0.48% of Northwest Natural Gas worth $10,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently made changes to their positions in NWN. Larson Financial Group LLC lifted its holdings in shares of Northwest Natural Gas by 104.3% in the 3rd quarter. Larson Financial Group LLC now owns 711 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 363 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Northwest Natural Gas by 77.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 807 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 352 shares during the last quarter. Torren Management LLC purchased a new position in shares of Northwest Natural Gas in the 4th quarter worth approximately $41,000. Fifth Third Bancorp increased its position in shares of Northwest Natural Gas by 375.6% during the 4th quarter. Fifth Third Bancorp now owns 1,308 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 1,033 shares during the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new stake in Northwest Natural Gas during the 4th quarter valued at $70,000. 75.13% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research firms have recently issued reports on NWN. Wells Fargo & Company started coverage on shares of Northwest Natural Gas in a report on Monday, May 11th. They issued an “underweight” rating and a $50.00 target price for the company. Freedom Capital raised Northwest Natural Gas from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. TD Cowen initiated coverage on shares of Northwest Natural Gas in a report on Thursday, April 16th. They set a “hold” rating and a $58.00 price objective on the stock. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Northwest Natural Gas in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.25.
Insiders Place Their Bets
In other Northwest Natural Gas news, Director David Hugo Anderson sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $51.18, for a total value of $76,770.00. Following the completion of the transaction, the director directly owned 52,259 shares of the company’s stock, valued at approximately $2,674,615.62. The trade was a 2.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.55% of the company’s stock.
Northwest Natural Gas Stock Down 1.4%
Shares of NWN stock opened at $51.20 on Thursday. Northwest Natural Gas Company has a fifty-two week low of $39.29 and a fifty-two week high of $55.99. The firm has a market capitalization of $2.15 billion, a PE ratio of 17.47 and a beta of 0.43. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.62 and a current ratio of 0.80. The stock’s 50-day simple moving average is $49.94 and its 200-day simple moving average is $50.51.
Northwest Natural Gas (NYSE:NWN – Get Free Report) last issued its earnings results on Tuesday, May 5th. The utilities provider reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.07). Northwest Natural Gas had a net margin of 9.56% and a return on equity of 8.46%. The firm had revenue of $490.40 million during the quarter, compared to analysts’ expectations of $538.57 million. During the same quarter in the prior year, the company earned $2.28 EPS. Northwest Natural Gas’s quarterly revenue was down .8% on a year-over-year basis. Equities analysts expect that Northwest Natural Gas Company will post 3.04 earnings per share for the current year.
Northwest Natural Gas Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.4925 per share. The ex-dividend date is Friday, July 31st. This represents a $1.97 dividend on an annualized basis and a dividend yield of 3.8%. Northwest Natural Gas’s dividend payout ratio (DPR) is presently 67.24%.
Northwest Natural Gas Company Profile
Northwest Natural Gas (NYSE: NWN), commonly known as NW Natural, is a publicly traded energy utility primarily engaged in the distribution of natural gas to residential, commercial and industrial customers. Headquartered in Portland, Oregon, the company operates an extensive pipeline network spanning thousands of miles across Oregon and southwest Washington. Its core business activities include gas procurement, system operation and maintenance, safety inspections and customer service support.
Dating back to the mid-19th century, Northwest Natural traces its origins to the Portland Gas Light Company, which first illuminated Portland streets with manufactured gas in 1859.
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