Louisiana State Employees Retirement System raised its stake in shares of Northwest Natural Gas Co. (NYSE:NWN) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,200 shares of the company’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Northwest Natural Gas were worth $791,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of NWN. Quotient Investors LLC acquired a new stake in shares of Northwest Natural Gas during the second quarter valued at about $207,000. Murphy Capital Management Inc. acquired a new stake in shares of Northwest Natural Gas during the second quarter valued at about $239,000. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Northwest Natural Gas during the second quarter valued at about $274,000. Capstone Asset Management Co. increased its stake in shares of Northwest Natural Gas by 10.0% in the second quarter. Capstone Asset Management Co. now owns 8,350 shares of the company’s stock valued at $541,000 after buying an additional 760 shares in the last quarter. Finally, Huntington Asset Advisors Inc. acquired a new stake in shares of Northwest Natural Gas during the first quarter valued at about $479,000. 61.07% of the stock is currently owned by institutional investors.
Northwest Natural Gas Co. (NYSE:NWN) traded down 0.70% during midday trading on Friday, reaching $56.41. The company had a trading volume of 101,854 shares. The stock’s 50 day moving average price is $60.21 and its 200-day moving average price is $58.78. The firm has a market capitalization of $1.55 billion, a P/E ratio of 25.16 and a beta of 0.36. Northwest Natural Gas Co. has a one year low of $45.38 and a one year high of $66.17.
Northwest Natural Gas (NYSE:NWN) last announced its earnings results on Tuesday, August 2nd. The company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01. The firm earned $99.20 million during the quarter, compared to analyst estimates of $111.12 million. Northwest Natural Gas had a net margin of 9.09% and a return on equity of 8.09%. The company’s revenue for the quarter was down 28.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.08 EPS. On average, equities research analysts anticipate that Northwest Natural Gas Co. will post $2.08 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 31st will be given a dividend of $0.47 per share. The ex-dividend date is Thursday, October 27th. This is a boost from Northwest Natural Gas’s previous quarterly dividend of $0.47. This represents a $1.88 annualized dividend and a yield of 3.33%. Northwest Natural Gas’s payout ratio is 83.48%.
Separately, Zacks Investment Research raised Northwest Natural Gas from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Thursday, August 4th.
In other Northwest Natural Gas news, CEO Gregg S. Kantor sold 1,000 shares of the business’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $63.91, for a total transaction of $63,910.00. Following the sale, the chief executive officer now directly owns 43,410 shares of the company’s stock, valued at approximately $2,774,333.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.07% of the company’s stock.
About Northwest Natural Gas
Northwest Natural Gas Company 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. The local gas distribution business, referred to as the utility segment, serves residential, commercial, and industrial customers in Oregon and southwest Washington.
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