Hennessy Advisors Inc. Has $14,083,000 Stake in Northwest Natural Gas Co. (NWN)
Hennessy Advisors Inc. raised its position in Northwest Natural Gas Co. (NYSE:NWN) by 13.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 234,286 shares of the company’s stock after buying an additional 27,000 shares during the period. Hennessy Advisors Inc. owned approximately 0.85% of Northwest Natural Gas worth $14,083,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. HL Financial Services LLC raised its stake in Northwest Natural Gas by 22.0% in the second quarter. HL Financial Services LLC now owns 6,632 shares of the company’s stock valued at $430,000 after buying an additional 1,197 shares during the period. Louisiana State Employees Retirement System raised its stake in Northwest Natural Gas by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 12,200 shares of the company’s stock valued at $791,000 after buying an additional 100 shares during the period. Bank of Montreal Can purchased a new stake in Northwest Natural Gas during the second quarter valued at approximately $659,000. New York State Teachers Retirement System raised its stake in Northwest Natural Gas by 3.4% in the second quarter. New York State Teachers Retirement System now owns 79,911 shares of the company’s stock valued at $5,180,000 after buying an additional 2,600 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in Northwest Natural Gas by 22.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 154,281 shares of the company’s stock valued at $10,001,000 after buying an additional 28,639 shares during the period. Institutional investors own 59.44% of the company’s stock.
Northwest Natural Gas Co. (NYSE:NWN) traded down 3.27% on Wednesday, hitting $57.70. 39,078 shares of the stock were exchanged. The company has a 50-day moving average of $57.40 and a 200-day moving average of $60.02. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 26.41 and a beta of 0.32. Northwest Natural Gas Co. has a 12 month low of $47.78 and a 12 month high of $66.17.
Northwest Natural Gas (NYSE:NWN) last announced its 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. The firm had revenue of $87.73 million for the quarter, compared to analyst estimates of $70.12 million. Northwest Natural Gas had a net margin of 8.96% and a return on equity of 7.87%. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.24) EPS. On average, equities analysts predict that Northwest Natural Gas Co. will post $2.23 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Monday, October 31st were paid a dividend of $0.47 per share. The ex-dividend date was Thursday, October 27th. This represents a $1.88 annualized dividend and a yield of 3.15%. This is a positive change from Northwest Natural Gas’s previous quarterly dividend of $0.47. Northwest Natural Gas’s payout ratio is presently 85.84%.
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NWN has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Northwest Natural Gas from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Saturday, November 5th. Guggenheim initiated coverage on shares of Northwest Natural Gas in a research note 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 assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $64.50.
About Northwest Natural Gas
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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