Pinebridge Investments L.P. Acquires 12,840 Shares of Northwest Natural Gas Co (NWN)

Pinebridge Investments L.P. lifted its holdings in shares of Northwest Natural Gas Co (NYSE:NWN) by 34.7% in the 4th quarter, HoldingsChannel reports. The fund owned 49,814 shares of the utilities provider’s stock after purchasing an additional 12,840 shares during the period. Pinebridge Investments L.P.’s holdings in Northwest Natural Gas were worth $2,971,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Wells Fargo & Company MN increased its position in shares of Northwest Natural Gas by 5.7% during the fourth quarter. Wells Fargo & Company MN now owns 172,659 shares of the utilities provider’s stock worth $10,300,000 after acquiring an additional 9,247 shares in the last quarter. First Trust Advisors LP increased its position in shares of Northwest Natural Gas by 20.1% during the fourth quarter. First Trust Advisors LP now owns 403,053 shares of the utilities provider’s stock worth $24,042,000 after acquiring an additional 67,493 shares in the last quarter. Nuance Investments LLC bought a new stake in shares of Northwest Natural Gas during the fourth quarter worth about $3,927,000. KBC Group NV increased its position in shares of Northwest Natural Gas by 80.5% during the fourth quarter. KBC Group NV now owns 11,732 shares of the utilities provider’s stock worth $700,000 after acquiring an additional 5,232 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Northwest Natural Gas by 2.3% during the fourth quarter. Swiss National Bank now owns 48,300 shares of the utilities provider’s stock worth $2,881,000 after acquiring an additional 1,100 shares in the last quarter. 65.92% of the stock is owned by institutional investors.

In related news, Director Mark S. Dodson sold 1,036 shares of the business’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $56.05, for a total transaction of $58,067.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.48% of the stock is currently owned by insiders.

Several research firms have recently commented on NWN. TheStreet downgraded shares of Northwest Natural Gas from a “b” rating to a “c+” rating in a research report on Friday, January 12th. Zacks Investment Research downgraded shares of Northwest Natural Gas from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Sidoti downgraded shares of Northwest Natural Gas from a “buy” rating to a “neutral” rating and set a $63.00 target price for the company. in a research report on Monday, January 8th. Wells Fargo & Co downgraded shares of Northwest Natural Gas from a “market perform” rating to an “underperform” rating in a research report on Monday, December 18th. Finally, Guggenheim downgraded shares of Northwest Natural Gas from a “neutral” rating to a “sell” rating in a research report on Tuesday, January 2nd. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the stock. Northwest Natural Gas currently has an average rating of “Hold” and a consensus price target of $67.00.

Northwest Natural Gas Co (NYSE:NWN) opened at $56.25 on Monday. Northwest Natural Gas Co has a twelve month low of $52.47 and a twelve month high of $69.50. The firm has a market cap of $1,615.11, a PE ratio of 25.57, a P/E/G ratio of 5.49 and a beta of 0.33. 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 company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Wednesday, January 31st were issued a dividend of $0.4725 per share. This represents a $1.89 annualized dividend and a yield of 3.36%. The ex-dividend date was Tuesday, January 30th. Northwest Natural Gas’s dividend payout ratio (DPR) is presently 85.91%.

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

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