Hsbc Holdings PLC Invests $1.25 Million in Northwest Natural Gas Company $NWN

Key Points

• HSBC Holdings acquired 25,195 shares of Northwest Natural Gas valued at approximately $1.25 million, representing about 0.06% of the company. Institutional investors collectively own 75.13% of NWN.
• Northwest Natural Gas reported quarterly EPS of $0.01, beating estimates for a loss of $0.08, while revenue rose 3.1% year over year to $243.55 million but fell short of expectations.
• The company’s quarterly dividend of $0.4925 per share implies an annualized payout of $1.97 and a 4.1% yield. Analysts have a consensus “Moderate Buy” rating with an average price target of $55.25.

Hsbc Holdings PLC acquired a new stake in shares of Northwest Natural Gas Company (NYSE:NWN - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 25,195 shares of the utilities provider's stock, valued at approximately $1,246,000. Hsbc Holdings PLC owned approximately 0.06% of Northwest Natural Gas as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Sei Investments Co. boosted its stake in Northwest Natural Gas by 0.7% in the third quarter. Sei Investments Co. now owns 30,005 shares of the utilities provider's stock valued at $1,348,000 after acquiring an additional 208 shares in the last quarter. Hantz Financial Services Inc. raised its position in Northwest Natural Gas by 16.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,783 shares of the utilities provider's stock worth $83,000 after buying an additional 254 shares during the last quarter. Guardian Wealth Management Inc. raised its position in Northwest Natural Gas by 1.6% during the 4th quarter. Guardian Wealth Management Inc. now owns 16,967 shares of the utilities provider's stock worth $793,000 after buying an additional 268 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Northwest Natural Gas by 5.9% in the fourth quarter. Captrust Financial Advisors now owns 5,098 shares of the utilities provider's stock valued at $238,000 after purchasing an additional 283 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of Northwest Natural Gas by 0.5% in the 1st quarter. Bessemer Group Inc. now owns 67,961 shares of the utilities provider's stock valued at $3,617,000 after buying an additional 317 shares during the period. 75.13% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Northwest Natural Gas news, Director David Anderson sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were 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. This represents a 2.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is currently owned by insiders.

Northwest Natural Gas Stock Performance

NYSE NWN opened at $48.47 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.55 and a debt-to-equity ratio of 1.52. The stock has a market cap of $2.04 billion, a PE ratio of 16.16 and a beta of 0.44. The stock has a fifty day simple moving average of $50.13 and a 200-day simple moving average of $50.95. Northwest Natural Gas Company has a twelve month low of $41.50 and a twelve month high of $55.99.

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

Northwest Natural Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.4925 per share. The ex-dividend date was Friday, July 31st. This represents a $1.97 dividend on an annualized basis and a yield of 4.1%. Northwest Natural Gas's dividend payout ratio is 65.67%.

Analyst Ratings Changes

NWN has been the topic of a number of analyst reports. 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 note on Thursday, August 6th. Weiss Ratings reissued a "buy (b-)" rating on shares of Northwest Natural Gas in a research note on Wednesday, August 26th. One investment 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 stock. According to MarketBeat.com, Northwest Natural Gas has an average rating of "Moderate Buy" and an average target price of $55.25.

Northwest Natural Gas Profile

Northwest Natural Gas Company, operating under Northwest Natural Holding Company, is an energy and utility company headquartered in Portland, Oregon. Its principal business is the distribution of natural gas to residential, commercial and industrial customers, along with related utility and energy services.

Through its regulated natural gas utility, Northwest Natural serves customers in Oregon and southwest Washington. The company also has expanded beyond its traditional gas-distribution operations through businesses involved in water and wastewater services, renewable natural gas and other energy-related activities.

The company traces its history to 1859 and has developed into one of the Pacific Northwest's established natural gas utilities.

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