Squarepoint Ops LLC Decreases Stake in Northwest Natural Gas Company $NWN

Key Points

• Squarepoint Ops LLC cut its Northwest Natural Gas stake by 51.2% in the second quarter, selling 27,504 shares and retaining 26,171 shares worth approximately $1.28 million. Institutional investors collectively own 75.13% of the company.
• Northwest Natural Gas reported quarterly EPS of $0.01, exceeding estimates of a $0.08 loss, while revenue rose 3.1% year over year to $243.55 million but fell short of analyst expectations.
• The company maintains a quarterly dividend of $0.4925 per share, equivalent to an annualized $1.97 payout and a 4.0% yield. Analysts hold a “Moderate Buy” consensus rating with an average price target of $55.80, compared with a recent share price of $48.65.

Squarepoint Ops LLC trimmed its holdings in Northwest Natural Gas Company (NYSE:NWN - Free Report) by 51.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,171 shares of the utilities provider's stock after selling 27,504 shares during the period. Squarepoint Ops LLC owned approximately 0.06% of Northwest Natural Gas worth $1,284,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in shares of Northwest Natural Gas by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 743,512 shares of the utilities provider's stock valued at $39,571,000 after purchasing an additional 18,669 shares in the last quarter. William Blair Investment Management LLC bought a new position in Northwest Natural Gas in the 4th quarter worth about $26,885,000. Bank of New York Mellon Corp bought a new position in Northwest Natural Gas in the 2nd quarter worth about $24,160,000. Allianz Asset Management GmbH purchased a new position in Northwest Natural Gas during the 2nd quarter valued at about $16,287,000. Finally, Natixis Advisors LLC grew its holdings in Northwest Natural Gas by 0.9% during the 4th quarter. Natixis Advisors LLC now owns 270,258 shares of the utilities provider's stock valued at $12,632,000 after buying an additional 2,372 shares in the last quarter. Institutional investors own 75.13% of the company's stock.

Northwest Natural Gas Stock Up 0.9%

NYSE:NWN opened at $48.65 on Thursday. 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 company has a market capitalization of $2.05 billion, a PE ratio of 16.22 and a beta of 0.44. The firm's 50-day moving average price is $50.07 and its 200-day moving average price is $50.92. Northwest Natural Gas Company has a 1-year low of $41.51 and a 1-year high of $55.99.

Northwest Natural Gas (NYSE:NWN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $243.55 million during the quarter, compared to analyst estimates of $271.87 million. During the same period in the previous year, the business earned $0.01 EPS. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. On average, equities analysts predict that Northwest Natural Gas Company will post 3.04 EPS for the current fiscal year.

Northwest Natural Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors 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 dividend yield of 4.0%. Northwest Natural Gas's payout ratio is 65.67%.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NWN. Wells Fargo & Company upgraded Northwest Natural Gas from an "underweight" rating to an "equal weight" rating and set a $50.00 price target on the stock in a research report 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. Finally, Huntington initiated coverage on Northwest Natural Gas in a report on Monday. They set an "outperform" rating and a $58.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Northwest Natural Gas has a consensus rating of "Moderate Buy" and a consensus target price of $55.80.

About Northwest Natural Gas

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.