Camden National Bank trimmed its holdings in Northwest Natural Holding Co (NYSE:NWN) by 0.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 129,729 shares of the utilities provider’s stock after selling 856 shares during the period. Northwest Natural comprises about 2.0% of Camden National Bank’s holdings, making the stock its 22nd largest position. Camden National Bank owned approximately 0.43% of Northwest Natural worth $9,255,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in NWN. Point72 Asset Management L.P. bought a new position in shares of Northwest Natural during the second quarter valued at about $35,000. HM Payson & Co. bought a new position in shares of Northwest Natural during the second quarter valued at about $46,000. Krane Funds Advisors LLC bought a new position in shares of Northwest Natural during the second quarter valued at about $59,000. Mcmillion Capital Management Inc. bought a new position in shares of Northwest Natural during the second quarter valued at about $64,000. Finally, Advisory Services Network LLC lifted its position in shares of Northwest Natural by 66.4% during the second quarter. Advisory Services Network LLC now owns 1,140 shares of the utilities provider’s stock valued at $79,000 after purchasing an additional 455 shares in the last quarter. 70.24% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Justin Palfreyman sold 488 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $71.18, for a total transaction of $34,735.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.14% of the company’s stock.
Northwest Natural (NYSE:NWN) last posted its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.16. Northwest Natural had a net margin of 9.41% and a return on equity of 9.80%. The business had revenue of $123.44 million during the quarter, compared to the consensus estimate of $125.08 million. During the same quarter last year, the company posted ($0.03) earnings per share. The firm’s quarterly revenue was down .9% compared to the same quarter last year. Analysts predict that Northwest Natural Holding Co will post 2.35 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a dividend of $0.477 per share. This represents a $1.91 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Wednesday, October 30th. This is an increase from Northwest Natural’s previous quarterly dividend of $0.48. Northwest Natural’s dividend payout ratio (DPR) is 81.55%.
A number of research firms recently weighed in on NWN. Royal Bank of Canada raised their price target on shares of Northwest Natural from $67.00 to $69.00 and gave the company a “sector perform” rating in a research report on Friday, September 20th. They noted that the move was a valuation call. Wells Fargo & Co reissued a “hold” rating on shares of Northwest Natural in a research report on Wednesday, August 7th. ValuEngine raised shares of Northwest Natural from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research raised shares of Northwest Natural from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Friday. Finally, Maxim Group reissued a “buy” rating and set a $79.00 price target (up from $72.00) on shares of Northwest Natural in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $68.40.
Northwest Natural Company Profile
Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, and industrial customers in Oregon and Southwest Washington. It is also involved in the gas storage activities, water businesses, and other investments and activities.
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