UBS Asset Management Americas Inc. increased its position in Northwest Natural Gas Co. (NYSE:NWN) by 14.6% during the second quarter, Holdings Channel reports. The institutional investor owned 21,770 shares of the company’s stock after buying an additional 2,781 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.08% of Northwest Natural Gas worth $1,411,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Nationwide Fund Advisors boosted its position in Northwest Natural Gas by 84.6% in the second quarter. Nationwide Fund Advisors now owns 32,641 shares of the company’s stock worth $2,116,000 after buying an additional 14,962 shares in the last quarter. Global X Management Co. LLC boosted its position in Northwest Natural Gas by 10.9% in the second quarter. Global X Management Co. LLC now owns 111,972 shares of the company’s stock worth $7,258,000 after buying an additional 10,978 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Northwest Natural Gas during the second quarter worth about $353,000. Neuberger Berman Group LLC bought a new position in Northwest Natural Gas during the second quarter worth about $204,000. Finally, Sharkey Howes & Javer boosted its position in Northwest Natural Gas by 0.8% in the second quarter. Sharkey Howes & Javer now owns 2,148 shares of the company’s stock worth $139,000 after buying an additional 17 shares in the last quarter. 61.09% of the stock is owned by institutional investors and hedge funds.
Shares of Northwest Natural Gas Co. (NYSE:NWN) traded down 0.05% on Friday, hitting $58.04. 2,037 shares of the company traded hands. The company has a market capitalization of $1.60 billion, a PE ratio of 25.89 and a beta of 0.36. The stock’s 50-day moving average price is $59.75 and its 200-day moving average price is $58.88. Northwest Natural Gas Co. has a 12 month low of $45.38 and a 12 month high of $66.17.
Northwest Natural Gas (NYSE:NWN) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The firm earned $99.20 million during the quarter, compared to analysts’ expectations of $111.12 million. Northwest Natural Gas had a net margin of 9.09% and a return on equity of 8.09%. The business’s quarterly revenue was down 28.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 earnings per share. On average, equities analysts predict that Northwest Natural Gas Co. will post $2.08 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 31st will be issued a $0.47 dividend. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.24%. This is a boost from Northwest Natural Gas’s previous quarterly dividend of $0.47. Northwest Natural Gas’s payout ratio is 83.48%.
Separately, Zacks Investment Research raised shares of Northwest Natural Gas from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Thursday, August 4th.
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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