Ingalls & Snyder LLC lowered its stake in shares of Northwest Natural Holding Co (NYSE:NWN) by 5.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 14,639 shares of the utilities provider’s stock after selling 838 shares during the period. Ingalls & Snyder LLC’s holdings in Northwest Natural were worth $1,079,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. 6 Meridian raised its holdings in shares of Northwest Natural by 8.2% during the fourth quarter. 6 Meridian now owns 11,856 shares of the utilities provider’s stock worth $874,000 after purchasing an additional 897 shares during the period. Metropolitan Life Insurance Co NY increased its holdings in shares of Northwest Natural by 2.6% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 9,346 shares of the utilities provider’s stock worth $667,000 after acquiring an additional 240 shares during the period. Voloridge Investment Management LLC acquired a new stake in shares of Northwest Natural in the 3rd quarter worth about $539,000. California State Teachers Retirement System increased its holdings in shares of Northwest Natural by 6.4% in the 3rd quarter. California State Teachers Retirement System now owns 47,151 shares of the utilities provider’s stock worth $3,364,000 after acquiring an additional 2,823 shares during the period. Finally, State Street Corp increased its holdings in shares of Northwest Natural by 0.6% in the 3rd quarter. State Street Corp now owns 893,820 shares of the utilities provider’s stock worth $63,765,000 after acquiring an additional 5,521 shares during the period. 70.60% of the stock is currently owned by hedge funds and other institutional investors.
In other Northwest Natural news, SVP Mardilyn Saathoff sold 5,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $73.15, for a total transaction of $365,750.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Malia H. Wasson bought 1,000 shares of the stock in a transaction on Thursday, November 7th. The shares were bought at an average cost of $64.79 per share, for a total transaction of $64,790.00. 1.14% of the stock is currently owned by company insiders.
Northwest Natural stock opened at $73.34 on Thursday. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 31.48 and a beta of 0.26. The company has a current ratio of 0.57, a quick ratio of 0.45 and a debt-to-equity ratio of 0.96. The company’s 50-day moving average price is $71.20 and its two-hundred day moving average price is $70.22. Northwest Natural Holding Co has a 52 week low of $58.50 and a 52 week high of $74.32.
Northwest Natural (NYSE:NWN) last released its earnings results on Tuesday, November 5th. The utilities provider reported ($0.63) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.10). The company had revenue of $90.30 million for the quarter, compared to analyst estimates of $98.07 million. Northwest Natural had a net margin of 8.38% and a return on equity of 8.58%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.41) EPS. Research analysts expect that Northwest Natural Holding Co will post 2.35 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.477 per share. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $1.91 annualized dividend and a yield of 2.60%. Northwest Natural’s payout ratio is 81.97%.
A number of analysts recently weighed in on NWN shares. Zacks Investment Research raised shares of Northwest Natural from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a report on Wednesday, October 30th. Royal Bank of Canada raised their target price on shares of Northwest Natural from $67.00 to $69.00 and gave the company a “sector perform” rating in a research note on Friday, September 20th. They noted that the move was a valuation call. ValuEngine cut shares of Northwest Natural from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Siebert Williams Shank raised shares of Northwest Natural from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Wednesday, November 6th. Finally, Williams Capital raised shares of Northwest Natural from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $72.00.
About Northwest Natural
Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, and industrial customers in Oregon and Southwest Washington. It is also involved in the gas storage activities, water businesses, and other investments and activities.
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