Allianz Asset Management GmbH Makes New $16.29 Million Investment in Northwest Natural Gas Company $NWN

Key Points

• Allianz Asset Management initiated a $16.29 million position in Northwest Natural Gas, buying 331,977 shares, while institutional investors collectively own 75.13% of the company.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $55.25; Wells Fargo upgraded the stock to “equal weight” with a $50 target.
• Northwest Natural Gas reported quarterly EPS of $0.01, beating estimates by $0.09, and pays a $1.97 annualized dividend yielding approximately 3.9%.

Allianz Asset Management GmbH bought a new position in Northwest Natural Gas Company (NYSE:NWN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 331,977 shares of the utilities provider's stock, valued at approximately $16,287,000. Allianz Asset Management GmbH owned approximately 0.79% of Northwest Natural Gas at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in shares of Northwest Natural Gas by 5.6% in the first quarter. AQR Capital Management LLC now owns 106,605 shares of the utilities provider's stock valued at $4,554,000 after purchasing an additional 5,644 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Northwest Natural Gas by 17.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 164,729 shares of the utilities provider's stock valued at $7,037,000 after buying an additional 24,906 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Northwest Natural Gas by 650.9% during the first quarter. Jane Street Group LLC now owns 64,966 shares of the utilities provider's stock valued at $2,775,000 after buying an additional 56,314 shares in the last quarter. Cetera Investment Advisers raised its position in Northwest Natural Gas by 28.5% during the second quarter. Cetera Investment Advisers now owns 6,446 shares of the utilities provider's stock valued at $256,000 after buying an additional 1,428 shares during the period. Finally, Norges Bank acquired a new position in Northwest Natural Gas during the second quarter valued at $1,431,000. Institutional investors and hedge funds own 75.13% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Northwest Natural Gas in a research note on Wednesday, August 26th. Wells Fargo & Company raised shares of Northwest Natural Gas from an "underweight" rating to an "equal weight" rating and set a $50.00 price objective on the stock in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.25.

Northwest Natural Gas Price Performance

NYSE NWN opened at $49.91 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.77 and a debt-to-equity ratio of 1.52. The stock has a market capitalization of $2.10 billion, a PE ratio of 16.64 and a beta of 0.44. The company has a 50 day moving average price of $50.16 and a two-hundred day moving average price of $50.97. Northwest Natural Gas Company has a 12-month low of $40.90 and a 12-month high of $55.99.

Northwest Natural Gas (NYSE:NWN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.09. The company had revenue of $243.55 million for the quarter, compared to analyst estimates of $271.87 million. Northwest Natural Gas had a net margin of 9.75% and a return on equity of 8.33%. Northwest Natural Gas's quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.01 EPS. As a group, equities analysts predict that Northwest Natural Gas Company will post 3.04 earnings per share for the current fiscal year.

Northwest Natural Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a dividend of $0.4925 per share. This represents a $1.97 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Friday, July 31st. Northwest Natural Gas's dividend payout ratio is presently 65.67%.

Insider Buying and Selling

In other news, Director David Anderson sold 1,500 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $50.86, for a total transaction of $76,290.00. Following the transaction, the director owned 50,759 shares of the company's stock, valued at approximately $2,581,602.74. This represents a 2.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.55% of the stock is owned by insiders.

Northwest Natural Gas Profile

Northwest Natural Gas NYSE: NWN, commonly known as NW Natural, is a publicly traded energy utility primarily engaged in the distribution of natural gas to residential, commercial and industrial customers. Headquartered in Portland, Oregon, the company operates an extensive pipeline network spanning thousands of miles across Oregon and southwest Washington. Its core business activities include gas procurement, system operation and maintenance, safety inspections and customer service support.

Dating back to the mid-19th century, Northwest Natural traces its origins to the Portland Gas Light Company, which first illuminated Portland streets with manufactured gas in 1859.

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