Nuveen LLC purchased a new stake in Northwest Natural Gas Company (NYSE:NWN - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 374,703 shares of the utilities provider's stock, valued at approximately $16,007,000. Nuveen LLC owned approximately 0.93% of Northwest Natural Gas as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Abound Wealth Management bought a new position in Northwest Natural Gas in the first quarter valued at about $34,000. MCF Advisors LLC bought a new position in Northwest Natural Gas in the first quarter valued at about $38,000. GAMMA Investing LLC grew its position in Northwest Natural Gas by 24.6% in the first quarter. GAMMA Investing LLC now owns 1,689 shares of the utilities provider's stock valued at $72,000 after acquiring an additional 334 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Northwest Natural Gas by 32.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,830 shares of the utilities provider's stock valued at $112,000 after acquiring an additional 694 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new position in Northwest Natural Gas in the fourth quarter valued at about $186,000. Institutional investors and hedge funds own 75.13% of the company's stock.
Insider Buying and Selling at Northwest Natural Gas
In related news, Director David Hugo Anderson sold 7,574 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $40.43, for a total value of $306,216.82. Following the sale, the director directly owned 79,717 shares in the company, valued at $3,222,958.31. This represents a 8.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 22,574 shares of company stock worth $918,517 in the last quarter. Insiders own 0.84% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on NWN shares. Stifel Nicolaus lifted their target price on Northwest Natural Gas from $45.00 to $49.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Wells Fargo & Company lifted their target price on Northwest Natural Gas from $45.00 to $47.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Finally, Zacks Research upgraded Northwest Natural Gas to a "hold" rating in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $48.00.
Read Our Latest Research Report on NWN
Northwest Natural Gas Trading Down 0.6%
Shares of NYSE:NWN traded down $0.25 during midday trading on Tuesday, hitting $41.07. 353,301 shares of the stock were exchanged, compared to its average volume of 254,656. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 16.23 and a beta of 0.55. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.52 and a current ratio of 0.68. The business's 50-day moving average price is $40.76 and its 200 day moving average price is $41.28. Northwest Natural Gas Company has a 12 month low of $38.03 and a 12 month high of $44.38.
Northwest Natural Gas (NYSE:NWN - Get Free Report) last released its quarterly 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. The company had revenue of $236.19 million for the quarter, compared to analysts' expectations 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. Analysts predict 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. Stockholders of record on Thursday, July 31st were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Thursday, July 31st. Northwest Natural Gas's payout ratio is 77.47%.
Northwest Natural Gas Profile
(
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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