Baker Ellis Asset Management LLC cut its stake in Northwest Natural Gas Co. (NYSE:NWN) by 1.7% during the second quarter, Holdings Channel reports. The fund owned 20,840 shares of the company’s stock after selling 350 shares during the period. Baker Ellis Asset Management LLC’s holdings in Northwest Natural Gas were worth $1,351,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of NWN. Quotient Investors LLC acquired a new position in Northwest Natural Gas during the second quarter valued at $207,000. Murphy Capital Management Inc. acquired a new position in Northwest Natural Gas during the second quarter valued at $239,000. Old Mutual Global Investors UK Ltd. acquired a new position in Northwest Natural Gas during the second quarter valued at $274,000. Capital Fund Management S.A. increased its position in Northwest Natural Gas by 5.9% in the second quarter. Capital Fund Management S.A. now owns 5,400 shares of the company’s stock valued at $350,000 after buying an additional 300 shares during the last quarter. Finally, Lucus Advisors LLC acquired a new position in Northwest Natural Gas during the second quarter valued at $354,000. Institutional investors and hedge funds own 61.07% of the company’s stock.
Shares of Northwest Natural Gas Co. (NYSE:NWN) traded down 1.34% during mid-day trading on Wednesday, hitting $56.58. The stock had a trading volume of 92,710 shares. Northwest Natural Gas Co. has a one year low of $45.38 and a one year high of $66.17. The stock has a market cap of $1.56 billion, a P/E ratio of 25.24 and a beta of 0.36. The firm has a 50 day moving average of $60.63 and a 200-day moving average of $58.77.
Northwest Natural Gas (NYSE:NWN) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. The company earned $99.20 million during the quarter, compared to analysts’ expectations of $111.12 million. Northwest Natural Gas had a return on equity of 8.09% and a net margin of 9.09%. Northwest Natural Gas’s quarterly revenue was down 28.2% on a year-over-year basis. During the same period last year, the business earned $0.08 earnings per share. Equities research analysts expect that Northwest Natural Gas Co. will post $2.08 earnings per share for the current fiscal year.
Separately, Zacks Investment Research raised Northwest Natural Gas from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Thursday, August 4th.
In related news, CEO Gregg S. Kantor sold 1,000 shares of Northwest Natural Gas stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 43,410 shares in the company, valued at $2,774,333.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.07% of the company’s stock.
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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