Northwest Natural Gas Co. (NWN) Stake Boosted by Fisher Asset Management LLC
Fisher Asset Management LLC increased its stake in Northwest Natural Gas Co. (NYSE:NWN) by 2.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 237,383 shares of the company’s stock after buying an additional 5,801 shares during the period. Fisher Asset Management LLC owned about 0.86% of Northwest Natural Gas worth $14,269,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of NWN. Acrospire Investment Management LLC bought a new stake in shares of Northwest Natural Gas during the second quarter valued at approximately $123,000. Advisor Group Inc. bought a new stake in shares of Northwest Natural Gas during the second quarter valued at approximately $137,000. Sharkey Howes & Javer raised its stake in shares of Northwest Natural Gas by 0.8% in the second quarter. Sharkey Howes & Javer now owns 2,148 shares of the company’s stock valued at $139,000 after buying an additional 17 shares during the last quarter. Perigon Wealth Management LLC bought a new stake in shares of Northwest Natural Gas during the second quarter valued at approximately $162,000. Finally, Neuberger Berman Group LLC bought a new stake in shares of Northwest Natural Gas during the second quarter valued at approximately $204,000. 62.34% of the stock is owned by institutional investors.
Northwest Natural Gas Co. (NYSE:NWN) traded up 2.00% on Friday, reaching $58.65. 45,059 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $57.33 and a 200-day moving average price of $59.96. The company has a market capitalization of $1.62 billion, a PE ratio of 26.84 and a beta of 0.32. Northwest Natural Gas Co. has a 1-year low of $47.78 and a 1-year high of $66.17.
Northwest Natural Gas (NYSE:NWN) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.05. Northwest Natural Gas had a return on equity of 7.87% and a net margin of 8.96%. The business earned $87.73 million during the quarter, compared to analysts’ expectations of $70.12 million. During the same quarter last year, the business posted ($0.24) earnings per share. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, equities research analysts anticipate that Northwest Natural Gas Co. will post $2.23 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st were given a $0.47 dividend. The ex-dividend date of this dividend was Thursday, October 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.21%. This is a boost from Northwest Natural Gas’s previous quarterly dividend of $0.47. Northwest Natural Gas’s dividend payout ratio (DPR) is currently 85.84%.
NWN has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Northwest Natural Gas from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a report on Saturday, November 5th. Guggenheim initiated coverage on shares of Northwest Natural Gas in a report on Thursday, November 3rd. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Northwest Natural Gas currently has an average rating of “Hold” and an average target price of $64.50.
Northwest Natural Gas Company Profile
Northwest Natural Gas Company is engaged in the distribution of natural gas. The Company’s segments include Local Gas Distribution, Gas Storage and other. The Company maintains operations in Oregon, Washington and California and conducts businesses through NW Natural and its subsidiaries. The local gas distribution business, referred to as the utility segment, serves residential, commercial, and industrial customers in Oregon and southwest Washington.
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