18,400 Shares in Northwest Natural Gas Company $NWN Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new position in shares of Northwest Natural Gas Company (NYSE:NWN) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 18,400 shares of the utilities provider’s stock, valued at approximately $979,000.

A number of other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in Northwest Natural Gas by 77.4% in the second quarter. EverSource Wealth Advisors LLC now owns 807 shares of the utilities provider’s stock valued at $32,000 after buying an additional 352 shares during the last quarter. Larson Financial Group LLC lifted its stake in Northwest Natural Gas by 104.3% during the 3rd quarter. Larson Financial Group LLC now owns 711 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 363 shares during the period. Torren Management LLC acquired a new stake in Northwest Natural Gas during the 4th quarter valued at approximately $41,000. Fifth Third Bancorp raised its holdings in shares of Northwest Natural Gas by 375.6% during the fourth quarter. Fifth Third Bancorp now owns 1,308 shares of the utilities provider’s stock worth $61,000 after purchasing an additional 1,033 shares during the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of Northwest Natural Gas during the fourth quarter worth $70,000. 75.13% of the stock is owned by institutional investors and hedge funds.

Northwest Natural Gas Price Performance

Northwest Natural Gas stock opened at $49.77 on Monday. Northwest Natural Gas Company has a 12-month low of $39.29 and a 12-month high of $55.99. The stock has a market cap of $2.09 billion, a P/E ratio of 16.98 and a beta of 0.43. The company has a 50-day moving average price of $50.08 and a 200 day moving average price of $50.02. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 1.44.

Northwest Natural Gas (NYSE:NWN) last issued its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.40 by ($0.07). The business had revenue of $490.40 million during the quarter, compared to analysts’ expectations of $538.57 million. Northwest Natural Gas had a return on equity of 8.46% and a net margin of 9.56%.The company’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.28 earnings per share. Sell-side analysts anticipate that Northwest Natural Gas Company will post 3.05 earnings per share for the current year.

Northwest Natural Gas Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were issued a dividend of $0.4925 per share. The ex-dividend date was Thursday, April 30th. This represents a $1.97 dividend on an annualized basis and a yield of 4.0%. Northwest Natural Gas’s dividend payout ratio is 67.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NWN shares. TD Cowen initiated coverage on shares of Northwest Natural Gas in a report on Thursday, April 16th. They issued a “hold” rating and a $58.00 price target on the stock. Freedom Capital upgraded Northwest Natural Gas from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northwest Natural Gas in a research report on Friday, May 29th. Finally, Wells Fargo & Company assumed coverage on Northwest Natural Gas in a research note on Monday, May 11th. They set an “underweight” rating and a $50.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.25.

Northwest Natural Gas Profile

Northwest Natural Gas (NYSE: NWN), commonly known as NW Natural, is a publicly traded energy utility primarily engaged in the distribution of natural gas to residential, commercial and industrial customers. Headquartered in Portland, Oregon, the company operates an extensive pipeline network spanning thousands of miles across Oregon and southwest Washington. Its core business activities include gas procurement, system operation and maintenance, safety inspections and customer service support.

Dating back to the mid-19th century, Northwest Natural traces its origins to the Portland Gas Light Company, which first illuminated Portland streets with manufactured gas in 1859.