Bank of New York Mellon Corp Invests $24.16 Million in Northwest Natural Gas Company $NWN

Key Points

• Bank of New York Mellon acquired 492,465 shares of Northwest Natural Gas worth approximately $24.16 million, representing about 1.17% of the utility; institutional investors own 75.13% of the stock.
• Northwest Natural Gas reported quarterly EPS of $0.01, beating the consensus estimate of a $0.08 loss, while revenue rose 3.1% year over year to $243.55 million but missed estimates.
• The company maintains a quarterly dividend of $0.4925, equivalent to an annualized $1.97 payout and a 4.0% yield. Analysts give the stock a “Moderate Buy” consensus rating with an average price target of $55.25 versus its $49.41 opening price.

Bank of New York Mellon Corp acquired a new stake in Northwest Natural Gas Company (NYSE:NWN - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 492,465 shares of the utilities provider's stock, valued at approximately $24,160,000. Bank of New York Mellon Corp owned about 1.17% of Northwest Natural Gas at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its position in Northwest Natural Gas by 77.4% during the second quarter. EverSource Wealth Advisors LLC now owns 807 shares of the utilities provider's stock worth $32,000 after buying an additional 352 shares in the last quarter. Larson Financial Group LLC raised its stake in Northwest Natural Gas by 104.3% in the 3rd quarter. Larson Financial Group LLC now owns 711 shares of the utilities provider's stock valued at $32,000 after purchasing an additional 363 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Northwest Natural Gas by 197.5% in the 2nd quarter. Versant Capital Management Inc now owns 723 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 480 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Northwest Natural Gas by 375.6% during the 4th quarter. Fifth Third Bancorp now owns 1,308 shares of the utilities provider's stock worth $61,000 after purchasing an additional 1,033 shares during the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Northwest Natural Gas during the 4th quarter worth about $70,000. 75.13% of the stock is currently owned by hedge funds and other institutional investors.

Northwest Natural Gas Stock Down 0.2%

NWN opened at $49.41 on Monday. Northwest Natural Gas Company has a 12 month low of $40.90 and a 12 month high of $55.99. The business has a 50-day moving average of $50.25 and a two-hundred day moving average of $50.99. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.77 and a quick ratio of 0.55. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 16.47 and a beta of 0.43.

Northwest Natural Gas (NYSE:NWN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.09. Northwest Natural Gas had a net margin of 9.75% and a return on equity of 8.33%. The business had revenue of $243.55 million for the quarter, compared to analyst estimates of $271.87 million. During the same period in the prior year, the firm posted $0.01 EPS. The company's revenue was up 3.1% on a year-over-year basis. Northwest Natural Gas has set its FY 2026 guidance at 2.950-3.150 EPS. On average, research analysts expect that Northwest Natural Gas Company will post 3.04 earnings per share for the current year.

Northwest Natural Gas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a $0.4925 dividend. The ex-dividend date was Friday, July 31st. This represents a $1.97 annualized dividend and a dividend yield of 4.0%. Northwest Natural Gas's dividend payout ratio is 65.67%.

Insider Buying and Selling at Northwest Natural Gas

In other Northwest Natural Gas news, Director David Hugo Anderson sold 1,500 shares of Northwest Natural Gas stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $50.86, for a total transaction of $76,290.00. Following the sale, the director directly owned 50,759 shares in the company, valued at $2,581,602.74. The trade was a 2.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NWN has been the subject of a number of analyst reports. Freedom Capital raised shares of Northwest Natural Gas from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Wells Fargo & Company upgraded shares of Northwest Natural Gas from an "underweight" rating to an "equal weight" rating and set a $50.00 target price on the stock in a research report on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Northwest Natural Gas in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Northwest Natural Gas currently has a consensus rating of "Moderate Buy" and an average target price of $55.25.

About Northwest Natural Gas

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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