Panagora Asset Management Inc. reduced its holdings in shares of Northwest Natural Holding (NYSE:NWN – Get Rating) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,034 shares of the utilities provider’s stock after selling 2,235 shares during the period. Panagora Asset Management Inc. owned approximately 0.16% of Northwest Natural worth $2,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also modified their holdings of NWN. Goldman Sachs Group Inc. grew its stake in Northwest Natural by 51.7% during the 3rd quarter. Goldman Sachs Group Inc. now owns 269,436 shares of the utilities provider’s stock valued at $12,392,000 after purchasing an additional 91,868 shares during the last quarter. Richard C. Young & CO. LTD. purchased a new stake in Northwest Natural in the 3rd quarter worth approximately $3,104,000. ArrowMark Colorado Holdings LLC lifted its stake in shares of Northwest Natural by 19.0% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 251,000 shares of the utilities provider’s stock valued at $11,543,000 after purchasing an additional 40,000 shares during the period. Morgan Stanley grew its position in Northwest Natural by 22.0% during the second quarter. Morgan Stanley now owns 216,080 shares of the utilities provider’s stock valued at $11,348,000 after buying an additional 39,001 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in Northwest Natural in the fourth quarter valued at $1,837,000. 64.11% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on NWN shares. Guggenheim raised Northwest Natural from a “sell” rating to a “neutral” rating and set a $49.00 target price for the company in a research note on Thursday, January 20th. Zacks Investment Research raised Northwest Natural from a “sell” rating to a “hold” rating in a research note on Saturday, April 23rd. Royal Bank of Canada upped their target price on Northwest Natural from $49.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 14th. Maxim Group reduced their price objective on Northwest Natural from $74.00 to $62.00 in a research note on Monday, April 4th. Finally, Wells Fargo & Company increased their price objective on Northwest Natural from $51.00 to $54.00 and gave the company an “equal weight” rating in a research note on Monday, February 28th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $53.40.
Northwest Natural (NYSE:NWN – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The utilities provider reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The company had revenue of $350.30 million during the quarter, compared to analysts’ expectations of $324.26 million. Northwest Natural had a net margin of 8.43% and a return on equity of 8.07%. Northwest Natural’s revenue was up 10.9% on a year-over-year basis. During the same period last year, the firm posted $1.94 earnings per share. Research analysts predict that Northwest Natural Holding will post 2.52 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Friday, April 29th were paid a $0.482 dividend. This represents a $1.93 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend was Thursday, April 28th. Northwest Natural’s dividend payout ratio (DPR) is 79.75%.
Northwest Natural Profile (Get Rating)
Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, industrial, and transportation customers in Oregon and Southwest Washington. The company also operates 5.7 billion cubic feet of the Mist gas storage facility contracted to other utilities and third-party marketers; offers natural gas asset management services; and operates an appliance retail center.
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