First Trust Advisors LP Cuts Holdings in Northwest Natural Gas Company $NWN

First Trust Advisors LP decreased its holdings in Northwest Natural Gas Company (NYSE:NWN) by 12.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 755,910 shares of the utilities provider’s stock after selling 103,514 shares during the quarter. First Trust Advisors LP owned 1.80% of Northwest Natural Gas worth $40,230,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in NWN. AQR Capital Management LLC raised its position in shares of Northwest Natural Gas by 5.6% during the 1st quarter. AQR Capital Management LLC now owns 106,605 shares of the utilities provider’s stock worth $4,554,000 after purchasing an additional 5,644 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Northwest Natural Gas by 17.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 164,729 shares of the utilities provider’s stock valued at $7,037,000 after acquiring an additional 24,906 shares in the last quarter. Jane Street Group LLC grew its stake in Northwest Natural Gas by 650.9% during the 1st quarter. Jane Street Group LLC now owns 64,966 shares of the utilities provider’s stock valued at $2,775,000 after acquiring an additional 56,314 shares in the last quarter. Cetera Investment Advisers raised its holdings in Northwest Natural Gas by 28.5% in the 2nd quarter. Cetera Investment Advisers now owns 6,446 shares of the utilities provider’s stock valued at $256,000 after acquiring an additional 1,428 shares during the last quarter. Finally, Norges Bank acquired a new stake in Northwest Natural Gas in the 2nd quarter valued at about $1,431,000. 75.13% of the stock is currently owned by institutional investors and hedge funds.

Northwest Natural Gas Price Performance

Shares of NWN stock opened at $51.37 on Tuesday. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.80 and a quick ratio of 0.62. The company has a market capitalization of $2.16 billion, a PE ratio of 17.53 and a beta of 0.43. The firm’s 50-day moving average is $49.88 and its two-hundred day moving average is $50.44. Northwest Natural Gas Company has a 12 month low of $39.29 and a 12 month high of $55.99.

Northwest Natural Gas (NYSE:NWN) last posted its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.40 by ($0.07). The firm had revenue of $490.40 million during the quarter, compared to analysts’ expectations of $538.57 million. Northwest Natural Gas had a net margin of 9.56% and a return on equity of 8.46%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the company earned $2.28 EPS. Analysts predict that Northwest Natural Gas Company will post 3.04 earnings per share for the current year.

Northwest Natural Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.4925 dividend. The ex-dividend date is Friday, July 31st. This represents a $1.97 dividend on an annualized basis and a yield of 3.8%. Northwest Natural Gas’s dividend payout ratio is currently 67.24%.

Analyst Ratings Changes

NWN has been the topic of several recent research reports. Freedom Capital upgraded Northwest Natural Gas from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Northwest Natural Gas in a report on Friday, May 29th. Wells Fargo & Company began coverage on Northwest Natural Gas in a research report on Monday, May 11th. They set an “underweight” rating and a $50.00 price objective on the stock. Finally, TD Cowen began coverage on Northwest Natural Gas in a research note on Thursday, April 16th. They set a “hold” rating and a $58.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Northwest Natural Gas has a consensus rating of “Moderate Buy” and an average target price of $55.25.

Northwest Natural Gas Company Profile

Northwest Natural Gas (NYSE: NWN), commonly known as NW Natural, is a publicly traded energy utility primarily engaged in the distribution of natural gas to residential, commercial and industrial customers. Headquartered in Portland, Oregon, the company operates an extensive pipeline network spanning thousands of miles across Oregon and southwest Washington. Its core business activities include gas procurement, system operation and maintenance, safety inspections and customer service support.

Dating back to the mid-19th century, Northwest Natural traces its origins to the Portland Gas Light Company, which first illuminated Portland streets with manufactured gas in 1859.