Key Points
- Director David Hugo Anderson sold 1,500 Northwest Natural Gas shares at an average price of $48.03, generating $72,045 and reducing his stake by 2.96% to 49,259 shares. The sale follows two earlier 1,500-share sales in July and August.
- Northwest Natural Gas reported quarterly EPS of $0.01, beating estimates by $0.09, while revenue rose 3.1% year over year to $243.55 million, below expectations.
- The company pays a quarterly dividend of $0.4925 per share, equivalent to an annualized $1.97 dividend and a 4.1% yield. Analysts maintain a “Moderate Buy” consensus rating with a $55.80 average price target.
Northwest Natural Gas Company (NYSE:NWN - Get Free Report) Director David Anderson sold 1,500 shares of the business's stock in a transaction on Friday, September 18th. The stock was sold at an average price of $48.03, for a total value of $72,045.00. Following the sale, the director owned 49,259 shares in the company, valued at $2,365,909.77. This represents a 2.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
David Hugo Anderson also recently made the following trade(s):
- On Tuesday, August 18th, David Anderson sold 1,500 shares of Northwest Natural Gas stock. The shares were sold at an average price of $50.86, for a total value of $76,290.00.
- On Monday, July 20th, David Anderson sold 1,500 shares of Northwest Natural Gas stock. The shares were sold at an average price of $51.18, for a total value of $76,770.00.
Northwest Natural Gas Stock Performance
NYSE:NWN opened at $48.02 on Tuesday. The stock's 50-day moving average is $49.95 and its 200-day moving average is $50.83. Northwest Natural Gas Company has a 1-year low of $42.38 and a 1-year high of $55.99. The company has a current ratio of 0.77, a quick ratio of 0.55 and a debt-to-equity ratio of 1.52. The stock has a market cap of $2.02 billion, a P/E ratio of 16.01 and a beta of 0.44.
Northwest Natural Gas (NYSE:NWN - Get Free Report) last posted its earnings results on Tuesday, August 4th. The utilities provider reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.09. Northwest Natural Gas had a net margin of 9.75% and a return on equity of 8.33%. The business had revenue of $243.55 million for the quarter, compared to the consensus estimate of $271.87 million. During the same period last year, the company earned $0.01 EPS. The firm's revenue was up 3.1% compared to the same quarter last year. Equities research analysts anticipate that Northwest Natural Gas Company will post 3.04 earnings per share for the current year.
Northwest Natural Gas Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.4925 per share. This represents a $1.97 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Friday, July 31st. Northwest Natural Gas's payout ratio is 65.67%.
Hedge Funds Weigh In On Northwest Natural Gas
A number of hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc lifted its holdings in Northwest Natural Gas by 197.5% in the second quarter. Versant Capital Management Inc now owns 723 shares of the utilities provider's stock valued at $35,000 after buying an additional 480 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Northwest Natural Gas in the 2nd quarter worth about $45,000. Larson Financial Group LLC raised its position in shares of Northwest Natural Gas by 57.0% in the 4th quarter. Larson Financial Group LLC now owns 1,116 shares of the utilities provider's stock worth $52,000 after acquiring an additional 405 shares in the last quarter. Axiom Investment Management LLC acquired a new position in shares of Northwest Natural Gas in the 1st quarter valued at about $71,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Northwest Natural Gas in the 2nd quarter valued at about $78,000. Institutional investors own 75.13% of the company's stock.
Analyst Ratings Changes
A number of research firms recently weighed in on NWN. Huntington assumed coverage on Northwest Natural Gas in a report on Monday, September 14th. They issued an "outperform" rating and a $58.00 price objective for the company. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Northwest Natural Gas in a report on Wednesday, August 26th. Finally, Wells Fargo & Company upgraded Northwest Natural Gas from an "underweight" rating to an "equal weight" rating and set a $50.00 price target on the stock in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Northwest Natural Gas has a consensus rating of "Moderate Buy" and a consensus price target of $55.80.
View Our Latest Analysis on NWN
About Northwest Natural Gas
(
Get Free Report)
Northwest Natural Gas Company, operating under Northwest Natural Holding Company, is an energy and utility company headquartered in Portland, Oregon. Its principal business is the distribution of natural gas to residential, commercial and industrial customers, along with related utility and energy services.
Through its regulated natural gas utility, Northwest Natural serves customers in Oregon and southwest Washington. The company also has expanded beyond its traditional gas-distribution operations through businesses involved in water and wastewater services, renewable natural gas and other energy-related activities.
The company traces its history to 1859 and has developed into one of the Pacific Northwest's established natural gas utilities.
Further Reading
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