Northwest Natural Gas (NYSE:NWN) Sees Strong Trading Volume – What’s Next?

Northwest Natural Gas Company (NYSE:NWN) saw unusually-high trading volume on Wednesday . Approximately 248,103 shares changed hands during mid-day trading, a decline of 2% from the previous session’s volume of 253,650 shares.The stock last traded at $40.29 and had previously closed at $41.17.

Analyst Upgrades and Downgrades

NWN has been the topic of a number of recent research reports. Wells Fargo & Company increased their price target on Northwest Natural Gas from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 7th. Stifel Nicolaus upped their price objective on shares of Northwest Natural Gas from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, June 13th.

Northwest Natural Gas Stock Up 0.6%

The business’s 50 day moving average is $41.42 and its 200 day moving average is $41.01. The company has a quick ratio of 0.87, a current ratio of 1.05 and a debt-to-equity ratio of 1.51. The company has a market cap of $1.61 billion, a P/E ratio of 15.82 and a beta of 0.54.

Northwest Natural Gas (NYSE:NWN) last released its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $2.28 EPS for the quarter, beating the consensus estimate of $2.09 by $0.19. Northwest Natural Gas had a net margin of 8.48% and a return on equity of 8.56%. The business had revenue of $494.28 million during the quarter, compared to analyst estimates of $464.65 million. During the same period in the prior year, the firm posted $1.69 earnings per share. The company’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, equities analysts anticipate that Northwest Natural Gas Company will post 2.33 earnings per share for the current fiscal year.

Northwest Natural Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date was Wednesday, April 30th. Northwest Natural Gas’s payout ratio is presently 77.78%.

Insider Transactions at Northwest Natural Gas

In other Northwest Natural Gas news, VP David A. Weber sold 2,183 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $42.46, for a total transaction of $92,690.18. Following the sale, the vice president now owns 255 shares of the company’s stock, valued at approximately $10,827.30. The trade was a 89.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Hugo Anderson sold 7,591 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $40.99, for a total transaction of $311,155.09. Following the transaction, the director now owns 102,291 shares in the company, valued at $4,192,908.09. The trade was a 6.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,774 shares of company stock valued at $1,023,945 in the last quarter. 0.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Northwest Natural Gas

Several institutional investors and hedge funds have recently made changes to their positions in NWN. Mutual of America Capital Management LLC increased its position in shares of Northwest Natural Gas by 4.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 6,079 shares of the utilities provider’s stock valued at $240,000 after acquiring an additional 263 shares during the period. Arizona State Retirement System grew its stake in Northwest Natural Gas by 2.5% during the 4th quarter. Arizona State Retirement System now owns 11,223 shares of the utilities provider’s stock valued at $444,000 after purchasing an additional 273 shares during the last quarter. Corebridge Financial Inc. increased its holdings in shares of Northwest Natural Gas by 1.5% in the first quarter. Corebridge Financial Inc. now owns 20,902 shares of the utilities provider’s stock valued at $893,000 after purchasing an additional 314 shares during the period. GAMMA Investing LLC raised its stake in shares of Northwest Natural Gas by 24.6% in the first quarter. GAMMA Investing LLC now owns 1,689 shares of the utilities provider’s stock worth $72,000 after purchasing an additional 334 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Northwest Natural Gas by 13.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,906 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 345 shares during the last quarter. 75.13% of the stock is currently owned by institutional investors and hedge funds.

About Northwest Natural Gas

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.