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LSV Asset Management Makes New $342,000 Investment in Northwest Natural Gas Company $NWN

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LSV Asset Management bought a new stake in Northwest Natural Gas Company (NYSE:NWN — Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 8,600 shares of the utilities provider’s stock, valued at approximately $342,000.

Several other hedge funds have also modified their holdings of NWN. Corebridge Financial Inc. boosted its holdings in Northwest Natural Gas by 1.5% in the 1st quarter. Corebridge Financial Inc. now owns 20,902 shares of the utilities provider’s stock worth $893,000 after acquiring an additional 314 shares during the period. Hantz Financial Services Inc. lifted its position in shares of Northwest Natural Gas by 44.3% during the second quarter. Hantz Financial Services Inc. now owns 1,143 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 351 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of Northwest Natural Gas by 3.8% in the first quarter. Natixis Advisors LLC now owns 10,450 shares of the utilities provider’s stock valued at $446,000 after purchasing an additional 381 shares during the period. Magellan Asset Management Ltd grew its holdings in Northwest Natural Gas by 3.5% during the 2nd quarter. Magellan Asset Management Ltd now owns 21,672 shares of the utilities provider’s stock valued at $861,000 after purchasing an additional 726 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in Northwest Natural Gas by 8.9% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 9,035 shares of the utilities provider’s stock valued at $359,000 after purchasing an additional 741 shares in the last quarter. 75.13% of the stock is currently owned by hedge funds and other institutional investors.

Northwest Natural Gas Trading Up 1.0%

Shares of NYSE NWN opened at $48.11 on Friday. The stock’s 50 day moving average price is $45.50 and its two-hundred day moving average price is $42.51. Northwest Natural Gas Company has a 52-week low of $38.03 and a 52-week high of $48.60. The stock has a market capitalization of $2.00 billion, a P/E ratio of 19.01 and a beta of 0.57. The company has a quick ratio of 0.52, a current ratio of 0.68 and a debt-to-equity ratio of 1.43.

Northwest Natural Gas (NYSE:NWN — Get Free Report) last issued its earnings results on Tuesday, November 4th. The utilities provider reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.82) by $0.09. Northwest Natural Gas had a return on equity of 8.60% and a net margin of 8.34%.The company had revenue of $164.73 million during the quarter, compared to analyst estimates of $174.66 million. During the same quarter last year, the firm earned ($0.71) EPS. The business’s revenue was up 20.3% on a year-over-year basis. On average, analysts anticipate that Northwest Natural Gas Company will post 2.33 earnings per share for the current fiscal year.

Northwest Natural Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were issued a $0.4925 dividend. This is a boost from Northwest Natural Gas’s previous quarterly dividend of $0.49. This represents a $1.97 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Friday, October 31st. Northwest Natural Gas’s dividend payout ratio is presently 78.49%.

Insiders Place Their Bets

In other Northwest Natural Gas news, Director David Hugo Anderson sold 7,468 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $47.95, for a total transaction of $358,090.60. Following the sale, the director directly owned 36,954 shares of the company’s stock, valued at approximately $1,771,944.30. This represents a 16.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 42,763 shares of company stock worth $1,934,461 in the last three months. 0.93% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on NWN shares. BTIG Research upgraded shares of Northwest Natural Gas to a “strong-buy” rating in a report on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Northwest Natural Gas in a research note on Wednesday, October 8th. Stifel Nicolaus increased their price target on Northwest Natural Gas from $50.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Finally, Zacks Research upgraded Northwest Natural Gas to a “hold” rating in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.67.

Read Our Latest Research Report on Northwest Natural Gas

Northwest Natural Gas Company Profile

(Free Report)

Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, and industrial customers in the United States. The company operates a mist gas storage facility contracted to other utilities, third-party marketers, and electric generators; offers natural gas asset management services; and operates an appliance retail center.

See Also

Institutional Ownership by Quarter for Northwest Natural Gas (NYSE:NWN)

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