First Citizens Bank & Trust Co. Grows Stock Holdings in Northwest Natural Gas Company $NWN

First Citizens Bank & Trust Co. boosted its position in Northwest Natural Gas Company (NYSE:NWN - Free Report) by 206.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 15,489 shares of the utilities provider's stock after acquiring an additional 10,439 shares during the period. First Citizens Bank & Trust Co.'s holdings in Northwest Natural Gas were worth $615,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NWN. Vaughan Nelson Investment Management L.P. purchased a new stake in Northwest Natural Gas in the 2nd quarter worth approximately $48,551,000. Nuveen LLC acquired a new position in shares of Northwest Natural Gas in the 1st quarter valued at $16,007,000. MetLife Investment Management LLC boosted its holdings in shares of Northwest Natural Gas by 1,493.6% in the 1st quarter. MetLife Investment Management LLC now owns 368,660 shares of the utilities provider's stock valued at $15,749,000 after purchasing an additional 345,526 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of Northwest Natural Gas in the 1st quarter valued at $7,851,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Northwest Natural Gas by 61.6% in the 1st quarter. Victory Capital Management Inc. now owns 223,223 shares of the utilities provider's stock valued at $9,536,000 after purchasing an additional 85,132 shares during the last quarter. 75.13% of the stock is owned by hedge funds and other institutional investors.

Northwest Natural Gas Price Performance

NWN opened at $47.76 on Friday. The company has a 50-day moving average of $43.19 and a 200-day moving average of $41.91. The company has a market capitalization of $1.93 billion, a P/E ratio of 18.88 and a beta of 0.57. Northwest Natural Gas Company has a 1-year low of $38.03 and a 1-year high of $47.79. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.52 and a current ratio of 0.68.

Northwest Natural Gas (NYSE:NWN - Get Free Report) last released its earnings results on Tuesday, August 5th. The utilities provider reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.08. Northwest Natural Gas had a net margin of 8.34% and a return on equity of 8.60%. The company had revenue of $236.19 million during the quarter, compared to the consensus estimate of $252.70 million. Northwest Natural Gas has set its FY 2025 guidance at 2.750-2.950 EPS. Equities analysts expect that Northwest Natural Gas Company will post 2.33 EPS for the current fiscal year.

Northwest Natural Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $0.4925 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.97 dividend on an annualized basis and a dividend yield of 4.1%. This is a boost from Northwest Natural Gas's previous quarterly dividend of $0.49. Northwest Natural Gas's payout ratio is currently 77.47%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NWN shares. Weiss Ratings restated a "hold (c)" rating on shares of Northwest Natural Gas in a report on Saturday. BTIG Research upgraded shares of Northwest Natural Gas to a "strong-buy" rating in a report on Wednesday. Finally, Zacks Research upgraded shares of Northwest Natural Gas to a "hold" rating in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $49.67.

Insider Buying and Selling at Northwest Natural Gas

In related news, Director David Hugo Anderson sold 7,500 shares of the business's stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.39, for a total transaction of $347,925.00. Following the completion of the sale, the director owned 44,422 shares of the company's stock, valued at $2,060,736.58. This represents a 14.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 42,869 shares of company stock worth $1,882,588. 0.93% of the stock is owned by corporate insiders.

Northwest Natural Gas Company Profile

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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