Prudential Financial Inc. raised its position in shares of Northwest Natural Gas Co. (NYSE:NWN) by 6.1% during the second quarter, Holdings Channel reports. The fund owned 70,349 shares of the company’s stock after buying an additional 4,020 shares during the period. Prudential Financial Inc. owned approximately 0.26% of Northwest Natural Gas worth $4,560,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Sharkey Howes & Javer boosted its stake in shares of Northwest Natural Gas by 0.8% in the second quarter. Sharkey Howes & Javer now owns 2,148 shares of the company’s stock worth $139,000 after buying an additional 17 shares during the last quarter. Garrison Financial Corp raised its stake in Northwest Natural Gas by 0.7% in the second quarter. Garrison Financial Corp now owns 5,909 shares of the company’s stock worth $383,000 after buying an additional 40 shares during the period. Louisiana State Employees Retirement System raised its stake in Northwest Natural Gas by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 12,200 shares of the company’s stock worth $791,000 after buying an additional 100 shares during the period. TRUE Private Wealth Advisors raised its stake in Northwest Natural Gas by 1.3% in the second quarter. TRUE Private Wealth Advisors now owns 22,577 shares of the company’s stock worth $1,463,000 after buying an additional 299 shares during the period. Finally, Capital Fund Management S.A. raised its stake in Northwest Natural Gas by 5.9% in the second quarter. Capital Fund Management S.A. now owns 5,400 shares of the company’s stock worth $350,000 after buying an additional 300 shares during the period. Institutional investors own 61.09% of the company’s stock.
Shares of Northwest Natural Gas Co. (NYSE:NWN) opened at 58.12 on Friday. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 25.92 and a beta of 0.36. The company’s 50-day moving average is $59.65 and its 200-day moving average is $58.92. Northwest Natural Gas Co. has a 12-month low of $45.38 and a 12-month 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 analysts’ consensus estimates 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 earned $99.20 million during the quarter, compared to analyst estimates of $111.12 million. During the same period in the previous year, the business posted $0.08 earnings per share. The business’s revenue for the quarter was down 28.2% on a year-over-year basis. Equities research analysts predict that Northwest Natural Gas Co. will post $2.08 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st will be paid a $0.47 dividend. The ex-dividend date of this dividend is Thursday, October 27th. This is a positive change from Northwest Natural Gas’s previous quarterly dividend of $0.47. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.23%. Northwest Natural Gas’s payout ratio is currently 83.48%.
Separately, Zacks Investment Research raised shares of Northwest Natural Gas from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Thursday, August 4th.
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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