Advisor Group Holdings Inc. increased its stake in shares of Northwest Natural Holding (NYSE:NWN) by 4.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,101 shares of the utilities provider’s stock after purchasing an additional 409 shares during the period. Advisor Group Holdings Inc.’s holdings in Northwest Natural were worth $529,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of NWN. Creative Financial Designs Inc. ADV increased its stake in Northwest Natural by 5.6% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 6,128 shares of the utilities provider’s stock worth $322,000 after buying an additional 327 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Northwest Natural by 2.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 21,215 shares of the utilities provider’s stock valued at $1,114,000 after purchasing an additional 500 shares in the last quarter. Confluence Investment Management LLC boosted its stake in Northwest Natural by 1.6% during the 2nd quarter. Confluence Investment Management LLC now owns 106,410 shares of the utilities provider’s stock worth $5,588,000 after purchasing an additional 1,673 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Northwest Natural by 13.1% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 8,633 shares of the utilities provider’s stock worth $466,000 after buying an additional 1,000 shares in the last quarter. Finally, Deprince Race & Zollo Inc. raised its position in shares of Northwest Natural by 33.6% in the first quarter. Deprince Race & Zollo Inc. now owns 277,951 shares of the utilities provider’s stock valued at $14,995,000 after buying an additional 69,910 shares during the last quarter. 69.86% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently issued reports on NWN. Zacks Investment Research upgraded Northwest Natural from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Friday, August 6th. TheStreet raised shares of Northwest Natural from a “c+” rating to a “b-” rating in a report on Thursday, August 5th. Finally, Maxim Group reiterated a “buy” rating and issued a $74.00 target price on shares of Northwest Natural in a report on Friday, August 6th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $63.25.
Northwest Natural (NYSE:NWN) last released its quarterly earnings results on Thursday, August 5th. The utilities provider reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.11. Northwest Natural had a return on equity of 9.55% and a net margin of 11.35%. The company had revenue of $148.90 million for the quarter, compared to analysts’ expectations of $142.64 million. During the same period in the prior year, the firm earned ($0.17) earnings per share. The firm’s revenue was up 10.4% compared to the same quarter last year. As a group, sell-side analysts expect that Northwest Natural Holding will post 2.58 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Friday, July 30th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date was Thursday, July 29th. Northwest Natural’s dividend payout ratio (DPR) is currently 83.48%.
In other news, VP James R. Downing sold 1,862 shares of Northwest Natural stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $51.90, for a total transaction of $96,637.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Malia H. Wasson acquired 2,000 shares of the stock in a transaction dated Thursday, August 19th. The shares were acquired at an average cost of $51.99 per share, with a total value of $103,980.00. The disclosure for this purchase can be found here. 1.03% of the stock is owned by corporate insiders.
Northwest Natural Company Profile
Northwest Natural Holding Co engages in the local distribution of gas and water through its subsidiaries. It supplies natural gas to residential, commercial, and industrial customers in Oregon and southwest Washington. The company is headquartered in Portland, OR.
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