Federated Investors Inc. PA raised its position in shares of Northwest Natural Gas Co (NYSE:NWN) by 13.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,568 shares of the utilities provider’s stock after buying an additional 888 shares during the period. Federated Investors Inc. PA’s holdings in Northwest Natural Gas were worth $453,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Fund Advisors increased its position in Northwest Natural Gas by 8.2% in the third quarter. BlackRock Fund Advisors now owns 1,958,422 shares of the utilities provider’s stock worth $117,721,000 after buying an additional 148,017 shares in the last quarter. Parnassus Investments CA increased its position in Northwest Natural Gas by 42.0% in the third quarter. Parnassus Investments CA now owns 397,500 shares of the utilities provider’s stock worth $23,894,000 after buying an additional 117,500 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Northwest Natural Gas by 23.9% in the third quarter. JPMorgan Chase & Co. now owns 407,829 shares of the utilities provider’s stock valued at $24,515,000 after buying an additional 78,630 shares during the period. State Street Corp increased its position in shares of Northwest Natural Gas by 12.6% in the fourth quarter. State Street Corp now owns 667,480 shares of the utilities provider’s stock valued at $39,918,000 after buying an additional 74,506 shares during the period. Finally, Russell Investments Group Ltd. purchased a new position in shares of Northwest Natural Gas during the fourth quarter valued at approximately $3,758,000. Institutional investors and hedge funds own 59.63% of the company’s stock.
Northwest Natural Gas Co (NYSE:NWN) traded up 0.76% during mid-day trading on Friday, reaching $60.05. 86,500 shares of the company’s stock traded hands. The firm has a market cap of $1.72 billion, a PE ratio of 28.33 and a beta of 0.31. The firm has a 50 day moving average of $59.13 and a 200 day moving average of $58.68. Northwest Natural Gas Co has a 1-year low of $49.70 and a 1-year high of $66.17.
Northwest Natural Gas (NYSE:NWN) last posted its quarterly earnings data on Monday, February 27th. The utilities provider reported $1.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by $0.04. The company earned $233.50 million during the quarter, compared to the consensus estimate of $267.97 million. Northwest Natural Gas had a return on equity of 7.87% and a net margin of 8.96%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $1.16 earnings per share. Analysts forecast that Northwest Natural Gas Co will post $2.16 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Friday, April 28th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Wednesday, April 26th. Northwest Natural Gas’s dividend payout ratio (DPR) is 85.84%.
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Several brokerages recently commented on NWN. Zacks Investment Research downgraded shares of Northwest Natural Gas from a “hold” rating to a “sell” rating in a report on Wednesday, January 4th. Wells Fargo & Co began coverage on shares of Northwest Natural Gas in a report on Wednesday, February 1st. They issued a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $64.50.
In other Northwest Natural Gas news, VP Shawn M. Filippi sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $59.95, for a total value of $35,970.00. Following the completion of the sale, the vice president now owns 1,430 shares of the company’s stock, valued at $85,728.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David A. Weber sold 575 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $57.49, for a total value of $33,056.75. Following the completion of the sale, the chief executive officer now directly owns 26 shares of the company’s stock, valued at approximately $1,494.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,018 shares of company stock worth $352,977. 2.07% of the stock is owned by company insiders.
About Northwest Natural Gas
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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