Northwest Natural Gas Company (NYSE:NWN) to Issue $0.49 Quarterly Dividend

Northwest Natural Gas Company (NYSE:NWN - Get Free Report) announced a quarterly dividend on Thursday, July 10th, RTT News reports. Stockholders of record on Thursday, July 31st will be given a dividend of 0.49 per share by the utilities provider on Friday, August 15th. This represents a $1.96 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend is Thursday, July 31st.

Northwest Natural Gas has a dividend payout ratio of 64.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Northwest Natural Gas to earn $2.91 per share next year, which means the company should continue to be able to cover its $1.96 annual dividend with an expected future payout ratio of 67.4%.

Northwest Natural Gas Trading Down 0.7%

Shares of Northwest Natural Gas stock traded down $0.29 during trading hours on Friday, hitting $41.51. The company's stock had a trading volume of 270,556 shares, compared to its average volume of 257,926. Northwest Natural Gas has a 1-year low of $37.41 and a 1-year high of $44.38. The business has a fifty day moving average of $40.84 and a 200 day moving average of $41.04. The company has a market capitalization of $1.67 billion, a PE ratio of 16.47 and a beta of 0.53. The company has a quick ratio of 0.87, a current ratio of 1.05 and a debt-to-equity ratio of 1.51.

Northwest Natural Gas (NYSE:NWN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.19. Northwest Natural Gas had a net margin of 8.48% and a return on equity of 8.56%. The company had revenue of $494.28 million during the quarter, compared to analyst estimates of $464.65 million. During the same quarter in the prior year, the business earned $1.69 earnings per share. The business's quarterly revenue was up 14.0% compared to the same quarter last year. As a group, equities analysts forecast that Northwest Natural Gas will post 2.33 EPS for the current year.

Insiders Place Their Bets

In related news, Director David Hugo Anderson sold 7,500 shares of the firm's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $39.68, for a total transaction of $297,600.00. Following the completion of the sale, the director directly owned 94,791 shares of the company's stock, valued at approximately $3,761,306.88. This trade represents a 7.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have sold 22,591 shares of company stock worth $931,255. 0.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Northwest Natural Gas

Large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC grew its holdings in Northwest Natural Gas by 650.9% during the 1st quarter. Jane Street Group LLC now owns 64,966 shares of the utilities provider's stock worth $2,775,000 after acquiring an additional 56,314 shares in the last quarter. AQR Capital Management LLC grew its holdings in Northwest Natural Gas by 5.6% during the 1st quarter. AQR Capital Management LLC now owns 106,605 shares of the utilities provider's stock worth $4,554,000 after acquiring an additional 5,644 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Northwest Natural Gas by 17.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 164,729 shares of the utilities provider's stock worth $7,037,000 after acquiring an additional 24,906 shares in the last quarter. 75.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Northwest Natural Gas from $45.00 to $47.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Stifel Nicolaus raised their price target on shares of Northwest Natural Gas from $45.00 to $49.00 and gave the company a "buy" rating in a report on Friday, June 13th.

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.