Summit Global Investments Has $1.12 Million Stake in Northwest Natural Holding (NYSE:NWN)

Summit Global Investments reduced its stake in shares of Northwest Natural Holding (NYSE:NWN) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,809 shares of the utilities provider’s stock after selling 718 shares during the quarter. Summit Global Investments owned approximately 0.08% of Northwest Natural worth $1,122,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NWN. AM Investment Strategies LLC acquired a new position in Northwest Natural in the 4th quarter worth about $137,000. DekaBank Deutsche Girozentrale acquired a new stake in Northwest Natural in the fourth quarter valued at approximately $138,000. Daiwa Securities Group Inc. grew its position in Northwest Natural by 125.1% in the third quarter. Daiwa Securities Group Inc. now owns 5,113 shares of the utilities provider’s stock worth $195,000 after acquiring an additional 2,842 shares in the last quarter. Miller Howard Investments Inc. NY acquired a new position in shares of Northwest Natural during the 4th quarter worth $209,000. Finally, Perigon Wealth Management LLC raised its holdings in shares of Northwest Natural by 5.3% during the 3rd quarter. Perigon Wealth Management LLC now owns 5,775 shares of the utilities provider’s stock valued at $220,000 after purchasing an additional 292 shares in the last quarter. 75.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott began coverage on shares of Northwest Natural in a research report on Wednesday, January 31st. They set a “neutral” rating and a $39.00 target price on the stock. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, Northwest Natural presently has a consensus rating of “Hold” and a consensus target price of $45.20.

Northwest Natural Stock Performance

NWN stock traded down $0.16 during mid-day trading on Friday, reaching $38.63. 242,306 shares of the stock traded hands, compared to its average volume of 248,581. The company has a quick ratio of 0.70, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The business has a 50-day moving average of $36.97 and a two-hundred day moving average of $37.57. The firm has a market capitalization of $1.47 billion, a PE ratio of 14.87 and a beta of 0.54. Northwest Natural Holding has a 52 week low of $34.95 and a 52 week high of $48.37.

Northwest Natural (NYSE:NWN) last released its earnings results on Friday, February 23rd. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.10). Northwest Natural had a net margin of 7.84% and a return on equity of 7.52%. The business had revenue of $355.71 million during the quarter, compared to analyst estimates of $368.78 million. During the same period last year, the business earned $1.36 EPS. As a group, equities analysts predict that Northwest Natural Holding will post 2.27 EPS for the current fiscal year.

Northwest Natural Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a $0.488 dividend. This represents a $1.95 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend is Monday, April 29th. Northwest Natural’s dividend payout ratio (DPR) is presently 75.00%.

Northwest Natural Profile

Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, and industrial customers in the United States. The company operates a mist gas storage facility contracted to other utilities, third-party marketers, and electric generators; offers natural gas asset management services; and operates an appliance retail center.