Summit Global Investments Sells 718 Shares of Northwest Natural Holding (NYSE:NWN)

Summit Global Investments decreased its position in Northwest Natural Holding (NYSE:NWN) by 2.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 28,809 shares of the utilities provider’s stock after selling 718 shares during the period. Summit Global Investments’ holdings in Northwest Natural were worth $1,122,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of NWN. AM Investment Strategies LLC acquired a new stake in shares of Northwest Natural in the fourth quarter valued at approximately $137,000. DekaBank Deutsche Girozentrale acquired a new stake in Northwest Natural in the 4th quarter valued at $138,000. Daiwa Securities Group Inc. increased its stake in Northwest Natural by 125.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 5,113 shares of the utilities provider’s stock valued at $195,000 after buying an additional 2,842 shares during the last quarter. Miller Howard Investments Inc. NY bought a new stake in Northwest Natural during the 4th quarter worth about $209,000. Finally, Perigon Wealth Management LLC boosted its stake 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 worth $220,000 after buying an additional 292 shares during the last quarter. Institutional investors and hedge funds own 75.13% of the company’s stock.

Analysts Set New Price Targets

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

Northwest Natural Stock Performance

NWN stock traded down $0.16 during trading hours on Friday, reaching $38.63. The stock had a trading volume of 242,306 shares, compared to its average volume of 248,581. The stock has a 50-day simple moving average of $36.97 and a 200 day simple moving average of $37.57. Northwest Natural Holding has a fifty-two week low of $34.95 and a fifty-two week high of $48.37. The stock has a market capitalization of $1.47 billion, a PE ratio of 14.87 and a beta of 0.54. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.70.

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

Northwest Natural Dividend Announcement

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

Northwest Natural Company 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.