Employees Retirement System of Texas decreased its position in shares of Northwest Natural Gas Company (NYSE:NWN) by 26.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,000 shares of the utilities provider’s stock after selling 4,000 shares during the quarter. Employees Retirement System of Texas’ holdings in Northwest Natural Gas were worth $658,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. D.A. Davidson & CO. boosted its stake in Northwest Natural Gas by 61.0% in the 2nd quarter. D.A. Davidson & CO. now owns 2,111 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 800 shares during the period. Sharkey Howes & Javer boosted its stake in Northwest Natural Gas by 0.8% in the 2nd quarter. Sharkey Howes & Javer now owns 2,217 shares of the utilities provider’s stock worth $133,000 after purchasing an additional 17 shares during the period. Riverhead Capital Management LLC boosted its stake in Northwest Natural Gas by 88.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,263 shares of the utilities provider’s stock worth $136,000 after purchasing an additional 1,063 shares during the period. Ameritas Investment Partners Inc. bought a new position in Northwest Natural Gas in the 1st quarter worth about $139,000. Finally, Creative Planning boosted its stake in Northwest Natural Gas by 0.3% in the 2nd quarter. Creative Planning now owns 2,436 shares of the utilities provider’s stock worth $146,000 after purchasing an additional 8 shares during the period. Institutional investors own 63.29% of the company’s stock.
Several brokerages have commented on NWN. BidaskClub upgraded Northwest Natural Gas from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 5th. Zacks Investment Research downgraded Northwest Natural Gas from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $66.00.
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In related news, CEO David Hugo Anderson sold 8,000 shares of Northwest Natural Gas 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 transaction, the chief executive officer now owns 71,484 shares in the company, valued at approximately $4,787,283.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martha L. Byorum sold 1,202 shares of Northwest Natural Gas stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $64.88, for a total transaction of $77,985.76. Following the transaction, the director now owns 1,202 shares in the company, valued at approximately $77,985.76. The disclosure for this sale can be found here. Insiders have sold a total of 13,202 shares of company stock worth $879,666 in the last 90 days. Company insiders own 1.48% of the company’s stock.
Shares of Northwest Natural Gas Company (NWN) traded up 1.06% during mid-day trading on Friday, hitting $66.85. The stock had a trading volume of 101,432 shares. The stock’s 50-day moving average is $65.84 and its 200 day moving average is $62.86. The company has a market cap of $1.92 billion, a PE ratio of 29.91 and a beta of 0.42. 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 for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.04. The company 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%. Northwest Natural Gas’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same quarter last year, the business earned $0.07 EPS. On average, equities research analysts forecast that Northwest Natural Gas Company will post $2.17 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be issued a dividend of $0.4725 per share. This is a positive change from Northwest Natural Gas’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.89 annualized dividend and a dividend yield of 2.83%. Northwest Natural Gas’s payout ratio is presently 85.07%.
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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