Northwest Natural Gas (NYSE:NWN) Sees Large Volume Increase - Time to Buy?

Northwest Natural Gas Company (NYSE:NWN - Get Free Report) saw strong trading volume on Wednesday . 248,103 shares traded hands during trading, a decline of 2% from the previous session's volume of 253,650 shares.The stock last traded at $40.29 and had previously closed at $41.17.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Stifel Nicolaus boosted 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 boosted their price objective on shares of Northwest Natural Gas from $45.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th.

Northwest Natural Gas Stock Performance

The business has a 50-day moving average price of $41.48 and a 200-day moving average price of $41.02. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 15.82 and a beta of 0.54. 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 earnings results on Tuesday, May 6th. The utilities provider reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.19. Northwest Natural Gas had a return on equity of 8.56% and a net margin of 8.48%. The firm had revenue of $494.28 million for the quarter, compared to the consensus estimate of $464.65 million. During the same period in the prior year, the firm earned $1.69 EPS. The firm's revenue was up 14.0% on a year-over-year basis. As a group, sell-side analysts forecast that Northwest Natural Gas Company will post 2.33 earnings per share for the current year.

Northwest Natural Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend was Wednesday, April 30th. Northwest Natural Gas's dividend payout ratio is currently 77.78%.

Insiders Place Their Bets

In other news, VP David A. Weber sold 2,183 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $42.46, for a total transaction of $92,690.18. Following the sale, the vice president now directly owns 255 shares of the company's stock, valued at $10,827.30. This represents a 89.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David Hugo Anderson sold 7,591 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $40.99, for a total transaction of $311,155.09. Following the sale, the director now directly owns 102,291 shares in the company, valued at approximately $4,192,908.09. The trade was a 6.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,774 shares of company stock valued at $1,023,945. Company insiders own 0.93% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mutual of America Capital Management LLC lifted its stake in Northwest Natural Gas by 4.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 6,079 shares of the utilities provider's stock valued at $240,000 after buying an additional 263 shares in the last quarter. Arizona State Retirement System lifted its stake in Northwest Natural Gas by 2.5% in the 4th quarter. Arizona State Retirement System now owns 11,223 shares of the utilities provider's stock valued at $444,000 after buying an additional 273 shares in the last quarter. Corebridge Financial Inc. lifted its stake in Northwest Natural Gas by 1.5% in the 1st quarter. Corebridge Financial Inc. now owns 20,902 shares of the utilities provider's stock valued at $893,000 after buying an additional 314 shares in the last quarter. GAMMA Investing LLC lifted its stake in Northwest Natural Gas by 24.6% in the 1st quarter. GAMMA Investing LLC now owns 1,689 shares of the utilities provider's stock valued at $72,000 after buying an additional 334 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in Northwest Natural Gas by 13.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,906 shares of the utilities provider's stock valued at $115,000 after buying an additional 345 shares in the last quarter. 75.13% of the stock is owned by hedge funds and other institutional investors.

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.