Assenagon Asset Management S.A. bought a new position in shares of Northwest Natural Holding Co (NYSE:NWN) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 22,556 shares of the utilities provider’s stock, valued at approximately $1,509,000. Assenagon Asset Management S.A. owned about 0.08% of Northwest Natural at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of NWN. Cascade Investment Advisors Inc. acquired a new position in Northwest Natural in the 2nd quarter valued at $128,000. Tower Research Capital LLC TRC grew its holdings in Northwest Natural by 188.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,266 shares of the utilities provider’s stock valued at $145,000 after buying an additional 1,480 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Northwest Natural in the 2nd quarter valued at $207,000. Becker Capital Management Inc. acquired a new position in Northwest Natural in the 2nd quarter valued at $212,000. Finally, Everence Capital Management Inc. acquired a new position in Northwest Natural in the 3rd quarter valued at $223,000. 67.97% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have commented on NWN shares. Zacks Investment Research lowered Northwest Natural from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. Guggenheim reaffirmed a “sell” rating and issued a $51.00 price objective on shares of Northwest Natural in a report on Monday, July 23rd. ValuEngine lowered Northwest Natural from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Finally, TheStreet lowered Northwest Natural from a “b” rating to a “c+” rating in a report on Tuesday, August 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $61.60.
Shares of NYSE NWN opened at $68.53 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.46 and a debt-to-equity ratio of 0.98. Northwest Natural Holding Co has a one year low of $51.50 and a one year high of $71.81. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 6.98 and a beta of 0.26.
Northwest Natural (NYSE:NWN) last issued its quarterly earnings data on Tuesday, November 6th. The utilities provider reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.04). The firm had revenue of $91.20 million during the quarter, compared to analyst estimates of $98.42 million. Northwest Natural had a negative net margin of 8.52% and a positive return on equity of 7.97%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.30) earnings per share. Equities analysts forecast that Northwest Natural Holding Co will post 2.23 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st will be given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.77%. This is an increase from Northwest Natural’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Tuesday, October 30th. Northwest Natural’s dividend payout ratio is presently 84.82%.
In other news, CEO David A. Weber sold 7,000 shares of the company’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $65.08, for a total transaction of $455,560.00. Following the completion of the sale, the chief executive officer now directly owns 2,296 shares in the company, valued at approximately $149,423.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Jon G. Huddleston sold 3,500 shares of the company’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $63.60, for a total value of $222,600.00. Following the sale, the vice president now owns 2,870 shares of the company’s stock, valued at $182,532. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,500 shares of company stock valued at $807,980. Corporate insiders own 1.19% of the company’s stock.
Northwest Natural Company Profile
Northwest Natural Holding Company, through its subsidiary, NW Natural Gas Company, operates as a regulated natural gas distribution company. The company serves approximately 740,000 natural gas customers in Oregon and Southwest Washington through 14,000 miles of pipeline systems in the United States.
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