Dimensional Fund Advisors LP raised its stake in shares of Northwest Natural Gas Co. (NYSE:NWN) by 2.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 838,330 shares of the company’s stock after buying an additional 22,957 shares during the period. Dimensional Fund Advisors LP owned about 3.04% of Northwest Natural Gas worth $54,339,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Emerald Acquisition Ltd. acquired a new position in shares of Northwest Natural Gas during the second quarter valued at about $8,778,000. AXA purchased a new stake in shares of Northwest Natural Gas during the first quarter worth about $3,059,000. Chicago Equity Partners LLC purchased a new stake in shares of Northwest Natural Gas during the second quarter worth about $3,010,000. DIAM Co. Ltd. purchased a new stake in shares of Northwest Natural Gas during the second quarter worth about $2,764,000. Finally, UBS Group AG raised its stake in shares of Northwest Natural Gas by 92.6% in the first quarter. UBS Group AG now owns 62,074 shares of the company’s stock worth $3,343,000 after buying an additional 29,837 shares during the last quarter. Institutional investors and hedge funds own 61.07% of the company’s stock.
Northwest Natural Gas Co. (NYSE:NWN) traded up 0.28% during midday trading on Friday, hitting $56.97. 18,046 shares of the stock traded hands. The company has a market cap of $1.57 billion, a P/E ratio of 25.41 and a beta of 0.36. The company’s 50 day moving average is $60.37 and its 200-day moving average is $58.75. 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 quarterly earnings results on Tuesday, August 2nd. The company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01. Northwest Natural Gas had a net margin of 9.09% and a return on equity of 8.09%. The firm had revenue of $99.20 million for the quarter, compared to analyst estimates of $111.12 million. During the same period last year, the business earned $0.08 EPS. Northwest Natural Gas’s revenue for the quarter was down 28.2% compared to the same quarter last year. On average, equities research analysts forecast that Northwest Natural Gas Co. will post $2.08 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 31st will be paid a dividend of $0.47 per share. This is a positive change from Northwest Natural Gas’s previous quarterly dividend of $0.47. This represents a $1.88 annualized dividend and a yield of 3.31%. Northwest Natural Gas’s dividend payout ratio (DPR) is currently 83.48%.
Separately, Zacks Investment Research lowered Northwest Natural Gas from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th.
In other Northwest Natural Gas news, CEO Gregg S. Kantor sold 1,000 shares of Northwest Natural Gas stock in a transaction on Monday, July 11th. The shares were sold at an average price of $63.91, for a total value of $63,910.00. Following the transaction, the chief executive officer now directly owns 43,410 shares in the company, valued at $2,774,333.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate 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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