Virtu KCG Holdings LLC lifted its stake in shares of Northwest Natural Gas Company (NYSE:NWN) by 44.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,035 shares of the utilities provider’s stock after acquiring an additional 1,560 shares during the period. Virtu KCG Holdings LLC’s holdings in Northwest Natural Gas were worth $301,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in NWN. BlackRock Inc. grew its stake in shares of Northwest Natural Gas by 12,672.6% in 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 stake in shares of Northwest Natural Gas by 4.7% in 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 stake in shares of Northwest Natural Gas by 22.0% in 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 stake in shares of Northwest Natural Gas by 13.9% in 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 stake in shares of Northwest Natural Gas by 4.9% in the 1st quarter. State Street Corp now owns 700,195 shares of the utilities provider’s stock worth $41,379,000 after acquiring an additional 32,715 shares in the last quarter. Institutional investors own 63.29% of the company’s stock.
Northwest Natural Gas Company (NWN) opened at 66.85 on Friday. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 29.91 and a beta of 0.42. The company’s 50-day moving average is $65.80 and its 200 day moving average is $62.93. Northwest Natural Gas Company has a 52-week low of $53.50 and a 52-week high of $68.60.
Northwest Natural Gas (NYSE:NWN) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.04. The business had revenue of $136.24 million during the quarter, compared to the consensus estimate of $78.51 million. Northwest Natural Gas had a return on equity of 7.51% and a net margin of 8.38%. The business’s quarterly revenue was up 37.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 EPS. Equities analysts forecast that Northwest Natural Gas Company will post $2.16 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be paid a dividend of $0.4725 per share. This is an increase from Northwest Natural Gas’s previous quarterly dividend of $0.47. This represents a $1.89 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Monday, October 30th. Northwest Natural Gas’s payout ratio is currently 85.07%.
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In other Northwest Natural Gas news, Director Martha L. Byorum sold 1,202 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $64.88, for a total transaction of $77,985.76. Following the completion of the sale, the director now directly owns 1,202 shares in the company, valued at approximately $77,985.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Lori L. Russell sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $66.93, for a total value of $133,860.00. Following the sale, the vice president now owns 3,512 shares of the company’s stock, valued at $235,058.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,202 shares of company stock valued at $879,666. Corporate insiders own 1.48% of the company’s stock.
Several analysts have recently issued reports on NWN shares. Zacks Investment Research upgraded shares of Northwest Natural Gas from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research note on Wednesday, September 6th. BidaskClub upgraded shares of Northwest Natural Gas from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Northwest Natural Gas currently has an average rating of “Hold” and an average target price of $66.00.
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.
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