Hennessy Advisors Inc. trimmed its position in Northwest Natural Gas Company (NYSE:NWN) by 4.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 224,303 shares of the utilities provider’s stock after selling 11,000 shares during the quarter. Hennessy Advisors Inc. owned 0.78% of Northwest Natural Gas worth $14,445,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bessemer Group Inc. increased its stake in shares of Northwest Natural Gas by 225.2% in the third quarter. Bessemer Group Inc. now owns 359,343 shares of the utilities provider’s stock worth $23,141,000 after buying an additional 248,857 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of Northwest Natural Gas in the third quarter worth $352,000. Aperio Group LLC increased its stake in shares of Northwest Natural Gas by 3.3% in the third quarter. Aperio Group LLC now owns 27,071 shares of the utilities provider’s stock worth $1,743,000 after buying an additional 857 shares during the period. Personal Capital Advisors Corp increased its stake in shares of Northwest Natural Gas by 209.9% in the third quarter. Personal Capital Advisors Corp now owns 28,817 shares of the utilities provider’s stock worth $1,856,000 after buying an additional 19,518 shares during the period. Finally, APG Asset Management N.V. bought a new stake in Northwest Natural Gas in the third quarter valued at $799,000. 63.30% of the stock is currently owned by institutional investors.
Several research firms recently weighed in on NWN. BidaskClub upgraded shares of Northwest Natural Gas from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 5th. Zacks Investment Research upgraded shares of Northwest Natural Gas from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $66.00.
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In other news, Director Martha L. Byorum sold 1,202 shares of the business’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $64.88, for a total transaction of $77,985.76. Following the sale, the director now owns 1,202 shares in the company, valued at approximately $77,985.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Grant M. Yoshihara sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $66.03, for a total transaction of $132,060.00. Following the sale, the vice president now owns 15,301 shares in the company, valued at approximately $1,010,325.03. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,202 shares of company stock worth $879,666. Company insiders own 1.48% of the company’s stock.
Northwest Natural Gas Company (NYSE:NWN) traded down $0.30 during trading hours on Friday, reaching $66.45. 4,510 shares of the company traded hands, compared to its average volume of 116,519. The company has a market capitalization of $1,923.77, a PE ratio of 30.45, a P/E/G ratio of 6.86 and a beta of 0.39. Northwest Natural Gas Company has a twelve month low of $53.50 and a twelve month high of $68.60. The company has a current ratio of 0.98, a quick ratio of 0.69 and a debt-to-equity ratio of 0.89.
Northwest Natural Gas (NYSE:NWN) last released its quarterly earnings results on Friday, November 3rd. The utilities provider reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.01. The business had revenue of $88.20 million for the quarter, compared to analysts’ expectations of $91.19 million. Northwest Natural Gas had a net margin of 8.32% and a return on equity of 7.31%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.18 earnings per share. analysts predict that Northwest Natural Gas Company will post 2.17 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be issued a dividend of $0.4725 per share. This represents a $1.89 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Monday, October 30th. This is a boost from Northwest Natural Gas’s previous quarterly dividend of $0.47. Northwest Natural Gas’s payout ratio is 85.91%.
Northwest Natural Gas Company Profile
Northwest Natural Gas Company (NW Natural) is engaged in the distribution of natural gas. The Company’s segments include Local Gas Distribution, Gas Storage and other. The Company maintains operations in Oregon, Washington and California and conducts businesses through NW Natural and its subsidiaries.
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