Robeco Institutional Asset Management B.V. boosted its position in Northwest Natural Gas Co. (NYSE:NWN) by 22.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 154,281 shares of the company’s stock after buying an additional 28,639 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Northwest Natural Gas were worth $10,001,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Northwest Natural Gas by 10.8% in the first quarter. BlackRock Inc. now owns 20,729 shares of the company’s stock worth $1,116,000 after buying an additional 2,023 shares during the period. BNP Paribas Arbitrage SA boosted its position in Northwest Natural Gas by 89.6% in the second quarter. BNP Paribas Arbitrage SA now owns 9,398 shares of the company’s stock worth $609,000 after buying an additional 4,441 shares during the period. TIAA CREF Investment Management LLC boosted its position in Northwest Natural Gas by 7.0% in the first quarter. TIAA CREF Investment Management LLC now owns 99,126 shares of the company’s stock worth $5,338,000 after buying an additional 6,495 shares during the period. BlackRock Fund Advisors boosted its position in Northwest Natural Gas by 1.5% in the first quarter. BlackRock Fund Advisors now owns 1,748,087 shares of the company’s stock worth $94,134,000 after buying an additional 25,958 shares during the period. Finally, BlackRock Group LTD boosted its position in Northwest Natural Gas by 9.5% in the first quarter. BlackRock Group LTD now owns 47,905 shares of the company’s stock worth $2,580,000 after buying an additional 4,172 shares during the period. Institutional investors own 61.07% of the company’s stock.
Shares of Northwest Natural Gas Co. (NYSE:NWN) traded down 0.70% during mid-day trading on Friday, hitting $56.41. The stock had a trading volume of 101,854 shares. Northwest Natural Gas Co. has a 12-month low of $45.38 and a 12-month high of $66.17. The stock has a market cap of $1.55 billion, a P/E ratio of 25.16 and a beta of 0.36. The company’s 50 day moving average price is $60.21 and its 200 day moving average price is $58.78.
Northwest Natural Gas (NYSE:NWN) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01. Northwest Natural Gas had a return on equity of 8.09% and a net margin of 9.09%. The firm earned $99.20 million during the quarter, compared to the consensus estimate of $111.12 million. During the same period in the previous year, the firm posted $0.08 EPS. The company’s quarterly revenue was down 28.2% compared to the same quarter last year. Equities research analysts predict that Northwest Natural Gas Co. will post $2.08 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 31st will be given a dividend of $0.47 per share. This is an increase from Northwest Natural Gas’s previous quarterly dividend of $0.47. This represents a $1.88 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Thursday, October 27th. Northwest Natural Gas’s payout ratio is currently 83.48%.
Separately, Zacks Investment Research upgraded Northwest Natural Gas from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a research note on Wednesday, July 6th.
In related news, CEO Gregg S. Kantor sold 1,000 shares of Northwest Natural Gas stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $63.91, for a total transaction of $63,910.00. Following the completion of the transaction, the chief executive officer now directly owns 43,410 shares in the company, valued at approximately $2,774,333.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.07% of the company’s stock.
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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