Northwest Natural Gas (NYSE:NWN) Hits New 12-Month High - Here's Why

Key Points

• Northwest Natural Gas (NYSE:NWN) reached a new 12-month high, trading at $45.18, following an upgrade to a "hold" rating by Zacks Research and positive analyst sentiment.
• The company announced an increase in its quarterly dividend to $0.4925, representing an annualized dividend yield of 4.4%, with a payout ratio of 77.87%.
• Recent insider trading activity includes Director David Hugo Anderson selling 7,795 shares, indicating a 9.78% reduction in position, while institutional investors own 75.13% of the company's stock.

Northwest Natural Gas Company (NYSE:NWN - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $45.07 and last traded at $45.18, with a volume of 123779 shares traded. The stock had previously closed at $44.41.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Zacks Research upgraded shares of Northwest Natural Gas to a "hold" rating in a research report on Tuesday, August 12th. Weiss Ratings reiterated a "hold (c)" rating on shares of Northwest Natural Gas in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $48.00.

Northwest Natural Gas Stock Performance

The company has a market cap of $1.82 billion, a price-to-earnings ratio of 17.89 and a beta of 0.57. The stock's fifty day simple moving average is $42.21 and its two-hundred day simple moving average is $41.64. 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 issued its earnings results on Tuesday, August 5th. The utilities provider reported $0.01 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $236.19 million for 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 research analysts anticipate that Northwest Natural Gas Company will post 2.33 EPS for the current year.

Northwest Natural Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a $0.4925 dividend. 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 4.4%. This is a boost from Northwest Natural Gas's previous quarterly dividend of $0.49. Northwest Natural Gas's payout ratio is 77.87%.

Insider Activity at Northwest Natural Gas

In other news, Director David Hugo Anderson sold 7,795 shares of the firm's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $42.13, for a total value of $328,403.35. Following the transaction, the director owned 71,922 shares of the company's stock, valued at approximately $3,030,073.86. This trade represents a 9.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 32,360 shares of company stock valued at $1,376,458. Company insiders own 0.84% of the company's stock.

Institutional Investors Weigh In On Northwest Natural Gas

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NWN. Vaughan Nelson Investment Management L.P. purchased a new stake in Northwest Natural Gas during the 2nd quarter worth $48,551,000. Nuveen LLC acquired a new position in Northwest Natural Gas during the 1st quarter worth $16,007,000. MetLife Investment Management LLC grew its holdings in Northwest Natural Gas by 1,493.6% during the 1st quarter. MetLife Investment Management LLC now owns 368,660 shares of the utilities provider's stock worth $15,749,000 after acquiring an additional 345,526 shares in the last quarter. Prudential Financial Inc. grew its holdings in Northwest Natural Gas by 577.6% during the 2nd quarter. Prudential Financial Inc. now owns 266,698 shares of the utilities provider's stock worth $10,593,000 after acquiring an additional 227,336 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in Northwest Natural Gas during the 1st quarter worth $7,851,000. Hedge funds and other institutional investors own 75.13% of the company's stock.

About Northwest Natural Gas

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.