Northwest Natural Gas Co. (NYSE:NWN) announced a quarterly dividend on Thursday, October 6th. Stockholders of record on Monday, October 31st will be paid a dividend of 0.47 per share on Tuesday, November 15th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.31%. This is a positive change from Northwest Natural Gas’s previous quarterly dividend of $0.47.
Shares of Northwest Natural Gas (NYSE:NWN) traded up 0.41% during midday trading on Thursday, hitting $56.81. 158,881 shares of the stock were exchanged. Northwest Natural Gas has a 12 month low of $45.38 and a 12 month high of $66.17. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 25.34 and a beta of 0.36. The firm’s 50-day moving average is $60.50 and its 200-day moving average is $58.76.
Northwest Natural Gas (NYSE:NWN) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. Northwest Natural Gas had a net margin of 9.09% and a return on equity of 8.09%. The firm had revenue of $99.20 million for the quarter, compared to the consensus estimate of $111.12 million. During the same period last year, the firm earned $0.08 earnings per share. The company’s quarterly revenue was down 28.2% on a year-over-year basis. Equities research analysts predict that Northwest Natural Gas will post $2.08 earnings per share for the current year.
In related news, CEO Gregg S. Kantor sold 1,000 shares of the stock in a transaction that occurred on Monday, July 11th. The shares were 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 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 at this hyperlink. Corporate insiders own 2.07% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Advisor Group Inc. purchased a new stake in Northwest Natural Gas during the second quarter worth approximately $137,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Northwest Natural Gas during the second quarter worth approximately $211,000. Sei Investments Co. boosted its stake in Northwest Natural Gas by 5.0% in the second quarter. Sei Investments Co. now owns 3,640 shares of the company’s stock worth $236,000 after buying an additional 174 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Northwest Natural Gas during the second quarter worth approximately $290,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Northwest Natural Gas during the second quarter worth approximately $407,000. 61.07% of the stock is owned by institutional investors.
Separately, Zacks Investment Research upgraded shares of Northwest Natural Gas from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a research note on Wednesday, July 6th.
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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