Northwest Natural Gas (NYSE:NWN) Sees Large Volume Increase - Here's Why

Shares of 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.

Wall Street Analyst Weigh In

NWN has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their target price on Northwest Natural Gas from $45.00 to $47.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Stifel Nicolaus upped their price objective 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 Trading Down 0.2%

The company has a market cap of $1.60 billion, a price-to-earnings ratio of 15.79 and a beta of 0.54. The company has a current ratio of 1.05, a quick ratio of 0.87 and a debt-to-equity ratio of 1.51. The business's 50 day moving average price is $41.36 and its 200-day moving average price is $40.99.

Northwest Natural Gas (NYSE:NWN - Get Free Report) last released its quarterly 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. The business had revenue of $494.28 million during the quarter, compared to the consensus estimate of $464.65 million. Northwest Natural Gas had a return on equity of 8.56% and a net margin of 8.48%. The firm's quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.69 EPS. On average, equities analysts anticipate that Northwest Natural Gas Company will post 2.33 EPS for the current fiscal year.

Northwest Natural Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis 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%.

Insider Buying and Selling

In other news, Director David Hugo Anderson sold 7,500 shares of the company's stock in a transaction that occurred 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 now owns 94,791 shares of the company's stock, valued at approximately $3,761,306.88. This represents a 7.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP David A. Weber sold 2,183 shares of Northwest Natural Gas stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $42.46, for a total transaction of $92,690.18. Following the completion of the transaction, the vice president now directly owns 255 shares in the company, valued at $10,827.30. This trade represents a 89.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,774 shares of company stock valued at $1,023,945 over the last 90 days. 0.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Northwest Natural Gas by 8.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 615,126 shares of the utilities provider's stock valued at $24,334,000 after purchasing an additional 46,135 shares during the last quarter. Barclays PLC grew its position in Northwest Natural Gas by 17.5% in the fourth quarter. Barclays PLC now owns 74,863 shares of the utilities provider's stock valued at $2,962,000 after acquiring an additional 11,160 shares during the last quarter. Aquatic Capital Management LLC bought a new position in Northwest Natural Gas in the fourth quarter valued at about $186,000. Atria Investments Inc acquired a new position in Northwest Natural Gas during the fourth quarter worth about $270,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Northwest Natural Gas by 13.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,906 shares of the utilities provider's stock worth $115,000 after acquiring an additional 345 shares during the last quarter. 75.13% of the stock is currently owned by institutional investors and hedge funds.

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.