111 Capital acquired a new stake in Northwest Natural Gas Company (NYSE:NWN - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,332 shares of the utilities provider's stock, valued at approximately $331,000.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Northwest Natural Gas by 0.9% in the first quarter. Vanguard Group Inc. now owns 4,755,844 shares of the utilities provider's stock valued at $203,170,000 after acquiring an additional 42,115 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Northwest Natural Gas in the second quarter valued at $48,551,000. Charles Schwab Investment Management Inc. lifted its position in shares of Northwest Natural Gas by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 634,622 shares of the utilities provider's stock valued at $27,111,000 after acquiring an additional 19,496 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Northwest Natural Gas in the first quarter valued at $16,007,000. Finally, MetLife Investment Management LLC lifted its position in shares of Northwest Natural Gas by 1,493.6% in the first quarter. MetLife Investment Management LLC now owns 368,660 shares of the utilities provider's stock valued at $15,749,000 after acquiring an additional 345,526 shares in the last quarter. 75.13% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the company. Zacks Research upgraded Northwest Natural Gas to a "hold" rating in a research report on Tuesday, August 12th. Weiss Ratings restated a "hold (c)" rating on shares of Northwest Natural Gas in a research report on Saturday, September 27th. Finally, Stifel Nicolaus upped their target price on Northwest Natural Gas from $45.00 to $49.00 and gave the company a "buy" rating in a research note on Friday, June 13th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $48.00.
Check Out Our Latest Stock Report on Northwest Natural Gas
Northwest Natural Gas Stock Performance
Northwest Natural Gas stock opened at $44.10 on Tuesday. The firm has a market capitalization of $1.78 billion, a P/E ratio of 17.43 and a beta of 0.57. The stock has a fifty day moving average price of $41.72 and a 200 day moving average price of $41.53. Northwest Natural Gas Company has a 52 week low of $38.03 and a 52 week high of $45.07. The company has a current ratio of 0.68, a quick ratio of 0.52 and a debt-to-equity ratio of 1.43.
Northwest Natural Gas (NYSE:NWN - Get Free Report) last released its earnings results on Tuesday, August 5th. The utilities provider reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.08. The firm had revenue of $236.19 million during the quarter, compared to analyst estimates of $252.70 million. Northwest Natural Gas had a return on equity of 8.60% and a net margin of 8.34%. Northwest Natural Gas has set its FY 2025 guidance at 2.750-2.950 EPS. Equities research analysts anticipate that Northwest Natural Gas Company will post 2.33 earnings per share for the current year.
Northwest Natural Gas Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were paid a dividend of $0.49 per share. The ex-dividend date was Thursday, July 31st. This represents a $1.96 annualized dividend and a yield of 4.4%. Northwest Natural Gas's dividend payout ratio is currently 77.47%.
Insider Buying and Selling
In other Northwest Natural Gas news, Director David Hugo Anderson sold 4,233 shares of the company's stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $45.01, for a total transaction of $190,527.33. Following the completion of the sale, the director directly owned 67,689 shares in the company, valued at $3,046,681.89. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 27,430 shares of company stock worth $1,154,608 in the last ninety days. Corporate insiders own 0.84% of the company's stock.
Northwest Natural Gas Company Profile
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Free Report)
Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, and industrial customers in the United States. The company operates a mist gas storage facility contracted to other utilities, third-party marketers, and electric generators; offers natural gas asset management services; and operates an appliance retail center.
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