SG Americas Securities LLC Boosts Position in Northwest Natural Gas Company (NWN)
SG Americas Securities LLC boosted its stake in Northwest Natural Gas Company (NYSE:NWN) by 27.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 16,834 shares of the utilities provider’s stock after purchasing an additional 3,662 shares during the period. SG Americas Securities LLC owned about 0.06% of Northwest Natural Gas worth $1,084,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of NWN. Bessemer Group Inc. increased its holdings in Northwest Natural Gas by 225.2% in the 3rd quarter. Bessemer Group Inc. now owns 359,343 shares of the utilities provider’s stock valued at $23,141,000 after purchasing an additional 248,857 shares during the last quarter. First Trust Advisors LP increased its holdings in Northwest Natural Gas by 13.9% in the 2nd quarter. First Trust Advisors LP now owns 368,087 shares of the utilities provider’s stock valued at $22,030,000 after purchasing an additional 44,973 shares during the last quarter. Griffin Asset Management Inc. acquired a new stake in Northwest Natural Gas in the 2nd quarter valued at approximately $2,394,000. State Street Corp increased its holdings in Northwest Natural Gas by 5.1% in the 2nd quarter. State Street Corp now owns 736,047 shares of the utilities provider’s stock valued at $44,053,000 after purchasing an additional 35,852 shares during the last quarter. Finally, First Washington CORP acquired a new stake in Northwest Natural Gas in the 3rd quarter valued at approximately $1,812,000. Hedge funds and other institutional investors own 64.62% of the company’s stock.
Northwest Natural Gas Company (NYSE NWN) traded down $0.75 during trading hours on Friday, hitting $68.40. 128,817 shares of the company’s stock traded hands, compared to its average volume of 107,955. The firm has a market capitalization of $1,940.00, a P/E ratio of 31.43, a price-to-earnings-growth ratio of 7.08 and a beta of 0.39. The company has a current ratio of 0.98, a quick ratio of 0.69 and a debt-to-equity ratio of 0.89. Northwest Natural Gas Company has a fifty-two week low of $56.25 and a fifty-two week high of $69.50.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st were paid a $0.4725 dividend. This is an increase from Northwest Natural Gas’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Monday, October 30th. This represents a $1.89 annualized dividend and a dividend yield of 2.76%. Northwest Natural Gas’s payout ratio is 85.91%.
Several analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Northwest Natural Gas from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Saturday, November 18th. BidaskClub upgraded shares of Northwest Natural Gas from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Northwest Natural Gas currently has a consensus rating of “Buy” and an average target price of $66.33.
In other Northwest Natural Gas news, CEO David Hugo Anderson sold 8,000 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $66.97, for a total value of $535,760.00. Following the completion of the transaction, the chief executive officer now owns 71,484 shares in the company, valued at $4,787,283.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Martha L. Byorum sold 1,202 shares of the business’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $64.88, for a total transaction of $77,985.76. Following the transaction, the director now owns 1,202 shares of the company’s stock, valued at approximately $77,985.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,202 shares of company stock valued at $747,606. Insiders own 1.48% of the company’s stock.
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About Northwest Natural Gas
Northwest Natural Gas Company (NW Natural) 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.
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