Macquarie Group Ltd. maintained its stake in Northwest Natural Gas Co. (NYSE:NWN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,800 shares of the company’s stock at the end of the second quarter. Macquarie Group Ltd.’s holdings in Northwest Natural Gas were worth $506,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in NWN. Mason Street Advisors LLC bought a new stake in Northwest Natural Gas during the second quarter valued at approximately $348,000. Sterling Capital Management LLC acquired a new position in shares of Northwest Natural Gas during the second quarter worth about $586,000. Perigon Wealth Management LLC acquired a new position in shares of Northwest Natural Gas during the second quarter worth about $162,000. Lebenthal Holdings LLC acquired a new position in shares of Northwest Natural Gas during the second quarter worth about $2,593,000. Finally, Amalgamated Bank acquired a new position in shares of Northwest Natural Gas during the second quarter worth about $204,000. Institutional investors and hedge funds own 61.07% of the company’s stock.
Northwest Natural Gas Co. (NYSE:NWN) opened at 61.37 on Wednesday. Northwest Natural Gas Co. has a 12 month low of $44.80 and a 12 month high of $66.17. The stock’s 50 day moving average price is $61.12 and its 200-day moving average price is $58.47. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 27.37 and a beta of 0.37.
Northwest Natural Gas (NYSE:NWN) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. Northwest Natural Gas had a return on equity of 8.09% and a net margin of 9.09%. The firm had revenue of $99.20 million for the quarter, compared to the consensus estimate of $111.12 million. During the same period in the previous year, the business earned $0.08 earnings per share. The company’s revenue for the quarter was down 28.2% compared to the same quarter last year. Equities research analysts predict that Northwest Natural Gas Co. will post $2.08 EPS for the current year.
Separately, Zacks Investment Research upgraded Northwest Natural Gas from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Thursday, August 4th.
In other Northwest Natural Gas news, CEO Gregg S. Kantor sold 1,000 shares of the business’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $63.91, for a total transaction of $63,910.00. Following the sale, the chief executive officer now directly owns 43,410 shares in the company, valued at $2,774,333.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.07% of the stock is owned by corporate insiders.
Northwest Natural Gas Company Profile
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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