Ameriprise Financial Inc. decreased its stake in shares of Northwest Natural Gas Co. (NYSE:NWN) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 193,283 shares of the company’s stock after selling 3,579 shares during the period. Ameriprise Financial Inc. owned about 0.70% of Northwest Natural Gas worth $12,530,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the stock. Emerald Acquisition Ltd. purchased a new position in Northwest Natural Gas during the second quarter valued at $8,778,000. AXA bought a new stake in shares of Northwest Natural Gas during the first quarter valued at approximately $3,059,000. Chicago Equity Partners LLC bought a new stake in shares of Northwest Natural Gas during the second quarter valued at approximately $3,010,000. DIAM Co. Ltd. bought a new stake in shares of Northwest Natural Gas during the second quarter valued at approximately $2,764,000. Finally, UBS Group AG raised its stake in shares of Northwest Natural Gas by 92.6% in the first quarter. UBS Group AG now owns 62,074 shares of the company’s stock valued at $3,343,000 after buying an additional 29,837 shares during the last quarter. 61.07% of the stock is owned by hedge funds and other institutional investors.
Shares of Northwest Natural Gas Co. (NYSE:NWN) traded down 0.28% during midday trading on Wednesday, reaching $61.20. 27,436 shares of the company traded hands. Northwest Natural Gas Co. has a 1-year low of $44.80 and a 1-year high of $66.17. The stock has a market capitalization of $1.69 billion, a P/E ratio of 27.30 and a beta of 0.37. The stock’s 50-day moving average is $61.12 and its 200-day moving average is $58.47.
Northwest Natural Gas (NYSE:NWN) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.01. The business earned $99.20 million during the quarter, compared to the consensus estimate of $111.12 million. Northwest Natural Gas had a return on equity of 8.09% and a net margin of 9.09%. The company’s revenue was down 28.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 earnings per share. Equities analysts predict that Northwest Natural Gas Co. will post $2.08 EPS for the current fiscal year.
Separately, Zacks Investment Research lowered shares of Northwest Natural Gas from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th.
In other news, CEO Gregg S. Kantor sold 1,000 shares of the stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $63.91, for a total value of $63,910.00. Following the completion of the sale, the chief executive officer now directly owns 43,410 shares of the company’s stock, valued at $2,774,333.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.07% of the stock is owned by 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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