Advisors Asset Management Inc. cut its stake in Northwest Natural Gas Co. (NYSE:NWN) by 14.3% during the second quarter, Holdings Channel reports. The fund owned 2,586 shares of the company’s stock after selling 432 shares during the period. Advisors Asset Management Inc.’s holdings in Northwest Natural Gas were worth $168,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the company. AMP Capital Investors Ltd raised its stake in Northwest Natural Gas by 21.4% in the first quarter. AMP Capital Investors Ltd now owns 23,206 shares of the company’s stock valued at $1,256,000 after buying an additional 4,090 shares during the last quarter. Hancock Holding Co. raised its stake in Northwest Natural Gas by 61.8% in the first quarter. Hancock Holding Co. now owns 14,900 shares of the company’s stock valued at $803,000 after buying an additional 5,691 shares during the last quarter. AXA purchased a new stake in Northwest Natural Gas during the first quarter valued at about $3,059,000. UBS Group AG raised its stake in 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. Finally, Huntington Asset Advisors Inc. purchased a new stake in Northwest Natural Gas during the first quarter valued at about $479,000. Hedge funds and other institutional investors own 61.07% of the company’s stock.
Northwest Natural Gas Co. (NYSE:NWN) traded up 0.71% during trading on Thursday, reaching $56.98. 87,248 shares of the company traded hands. Northwest Natural Gas Co. has a 52 week low of $45.38 and a 52 week high of $66.17. The company’s 50-day moving average price is $60.50 and its 200 day moving average price is $58.76. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 25.41 and a beta of 0.36.
Northwest Natural Gas (NYSE:NWN) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. The firm earned $99.20 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.08 EPS. On average, equities research analysts expect that Northwest Natural Gas Co. will post $2.08 EPS for the current year.
Separately, Zacks Investment Research upgraded shares of Northwest Natural Gas from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research note on Wednesday, July 6th.
In other Northwest Natural Gas news, CEO Gregg S. Kantor sold 1,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 43,410 shares in the company, valued at approximately $2,774,333.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.07% of the company’s stock.
About Northwest Natural Gas
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.
Want to see what other hedge funds are holding NWN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northwest Natural Gas Co. (NYSE:NWN).
Receive News & Ratings for Northwest Natural Gas Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northwest Natural Gas Co. and related companies with MarketBeat.com's FREE daily email newsletter.