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IndexIQ Advisors LLC bought a new position in Northwest Natural Holding (NYSE: NWN – Get a rating) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,426 shares of the utility provider, valued at around $384,000.
A number of other hedge funds also changed their NWN holdings. Allspring Global Investments Holdings LLC acquired a new position in shares of Northwest Natural in Q4 for a value of $1,837,000. Yousif Capital Management LLC acquired a new position in shares of Northwest Natural in Q4 worth $1,367,000. Qube Research & Technologies Ltd increased its holdings of Northwest Natural shares by 20.2% in the fourth quarter. Qube Research & Technologies Ltd now owns 20,212 shares of the utility provider worth $986,000 after acquiring 3,393 additional shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its equity stake in Northwest Natural by 54.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,722 shares of the utility provider worth $230,000 after acquiring 1,658 additional shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings of Northwest Natural shares by 16.9% in the fourth quarter. Oppenheimer & Co. Inc. now owns 10,115 shares of the utility provider worth $493,000 after acquiring 1,465 additional shares in the last quarter. 64.11% of the shares are currently held by institutional investors and hedge funds.
Insider Activity at Northwest Natural
In other Northwest Natural CEO News David Hugo Anderson sold 1,127 shares of the company in a trade dated Wednesday, June 22. The stock was sold at an average price of $52.44, for a total value of $59,099.88. Following the completion of the sale, the CEO now owns 125,675 shares of the company, valued at $6,590,397. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. Insiders own 0.84% of the shares of the company.
A Wall Street analyst gives his opinion
NWN has been the subject of a number of research analyst reports. Royal Bank of Canada raised its price target on Northwest Natural from $49.00 to $50.00 and gave the company an “industry performance” rating in a Thursday, April 14 report. Bank of America upgraded Northwest Natural from an “underperforming” rating to a “neutral” rating and set a price target of $53.00 for the stock in a Tuesday, May 24 report. Five equity research analysts rated the stock with a holding rating. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $53.60.
Northwest Natural Price Performance
NWN opened at $51.61 on Friday. The stock has a market capitalization of $1.77 billion, a price/earnings ratio of 20.73, a PEG ratio of 4.84 and a beta of 0.45. Northwest Natural Holding has a 1-year low of $43.07 and a 1-year high of $57.63. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt ratio of 0.92. The stock has a fifty-day moving average price of $52.89 and a 200-day moving average price of $51.53.
Northwest Natural (NYSE: NWN – Get a rating) last released its quarterly earnings data on Thursday, August 4. The utility provider reported earnings per share (EPS) of $0.05 for the quarter, beating analyst consensus estimates of ($0.04) by $0.09. The company posted revenue of $194.96 million in the quarter, compared to $157.21 million expected by analysts. Northwest Natural had a return on equity of 7.87% and a net margin of 8.27%. The company’s revenue for the quarter increased 30.9% year over year. In the same quarter last year, the company made ($0.02) earnings per share. Analysts expect Northwest Natural Holding to post an EPS of 2.52 for the current fiscal year.
Northwest Natural Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, August 15. Investors of record on Friday, July 29 will receive a dividend of $0.482 per share. The ex-dividend date is Thursday July 28. This represents a dividend of $1.93 on an annualized basis and a yield of 3.74%. Northwest Natural’s payout ratio is 77.51%.
Northwest Natural Company Profile
Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, industrial and transmission customers in Oregon and southwest Washington. The company also operates 5.7 billion cubic feet of the Mist gas storage facility under contract with other utilities and third-party distributors; provides natural gas asset management services; and operates an appliance retail center.
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