PineBridge Investments L.P. increased its stake in shares of Northwest Natural Gas Co. (NYSE:NWN) by 4.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,487 shares of the company’s stock after buying an additional 135 shares during the period. PineBridge Investments L.P.’s holdings in Northwest Natural Gas were worth $226,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of NWN. Acrospire Investment Management LLC bought a new position in Northwest Natural Gas during the second quarter valued at $123,000. Sharkey Howes & Javer boosted its position in Northwest Natural Gas by 0.8% in the second quarter. Sharkey Howes & Javer now owns 2,148 shares of the company’s stock valued at $139,000 after buying an additional 17 shares during the last quarter. Neuberger Berman Group LLC bought a new position in Northwest Natural Gas during the second quarter valued at $204,000. Quotient Investors LLC bought a new position in Northwest Natural Gas during the second quarter valued at $207,000. Finally, CIBC Asset Management Inc bought a new position in Northwest Natural Gas during the second quarter valued at $208,000. 61.07% of the stock is owned by institutional investors.
Northwest Natural Gas Co. (NYSE:NWN) opened at 62.21 on Tuesday. Northwest Natural Gas Co. has a 52-week low of $44.78 and a 52-week high of $66.17. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 27.75 and a beta of 0.37. The firm’s 50-day moving average is $61.17 and its 200 day moving average is $58.40.
Northwest Natural Gas (NYSE:NWN) last released its earnings results on Tuesday, August 2nd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business earned $99.20 million during the quarter, compared to analyst estimates of $111.12 million. During the same quarter in the prior year, the firm earned $0.08 earnings per share. The company’s revenue for the quarter was down 28.2% compared to the same quarter last year. On average, equities research analysts predict that Northwest Natural Gas Co. will post $2.08 EPS for the current fiscal year.
Separately, Zacks Investment Research raised shares of Northwest Natural Gas from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research note on Wednesday, July 6th.
In related news, CEO Gregg S. Kantor sold 1,000 shares of the company’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $63.91, for a total value of $63,910.00. Following the completion of the sale, the chief executive officer now owns 43,410 shares of the company’s stock, valued at $2,774,333.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.07% of the stock is currently owned by corporate insiders.
Northwest Natural Gas Company Profile
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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