Northwest Natural Gas Company (NYSE:NWN) Stake Maintained by Washington Trust Bank

Washington Trust Bank continued to hold its stake in shares of Northwest Natural Gas Company (NYSE:NWN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,800 shares of the utilities provider’s stock at the end of the second quarter. Washington Trust Bank’s holdings in Northwest Natural Gas were worth $168,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Northwest Natural Gas by 12,672.6% in the first quarter. BlackRock Inc. now owns 3,607,352 shares of the utilities provider’s stock valued at $213,194,000 after buying an additional 3,579,109 shares during the last quarter. Norges Bank bought a new stake in shares of Northwest Natural Gas during the fourth quarter valued at $24,552,000. Vanguard Group Inc. increased its stake in shares of Northwest Natural Gas by 4.7% in the first quarter. Vanguard Group Inc. now owns 2,703,884 shares of the utilities provider’s stock valued at $159,800,000 after buying an additional 120,458 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Northwest Natural Gas by 22.0% in the first quarter. Renaissance Technologies LLC now owns 404,900 shares of the utilities provider’s stock valued at $23,930,000 after buying an additional 73,000 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Northwest Natural Gas by 31.8% in the first quarter. Ameriprise Financial Inc. now owns 297,119 shares of the utilities provider’s stock valued at $17,558,000 after buying an additional 71,679 shares during the last quarter. 63.61% of the stock is owned by institutional investors and hedge funds.

Northwest Natural Gas Company (NYSE NWN) traded up 0.31% during trading on Friday, reaching $64.10. The company’s stock had a trading volume of 133,585 shares. The company has a market capitalization of $1.84 billion, a P/E ratio of 28.68 and a beta of 0.43. The firm’s 50-day moving average price is $62.56 and its 200 day moving average price is $60.55. Northwest Natural Gas Company has a 12-month low of $53.50 and a 12-month high of $66.00.

Northwest Natural Gas (NYSE:NWN) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.04. Northwest Natural Gas had a return on equity of 7.51% and a net margin of 8.38%. The business had revenue of $136.24 million for the quarter, compared to analysts’ expectations of $78.51 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The business’s revenue was up 37.4% compared to the same quarter last year. On average, analysts predict that Northwest Natural Gas Company will post $2.19 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend was Thursday, July 27th. Northwest Natural Gas’s dividend payout ratio (DPR) is currently 85.07%.

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Several analysts have weighed in on NWN shares. Zacks Investment Research upgraded Northwest Natural Gas from a “sell” rating to a “hold” rating in a research report on Wednesday, May 17th. Sidoti restated a “buy” rating and set a $75.00 target price (up previously from $68.00) on shares of Northwest Natural Gas in a report on Monday, June 19th. Finally, BidaskClub downgraded Northwest Natural Gas from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Northwest Natural Gas has a consensus rating of “Buy” and a consensus price target of $65.33.

In other news, VP Shawn M. Filippi sold 1,200 shares of Northwest Natural Gas stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $62.27, for a total transaction of $74,724.00. Following the sale, the vice president now owns 1,330 shares in the company, valued at $82,819.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David A. Weber sold 2,000 shares of Northwest Natural Gas stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $61.56, for a total value of $123,120.00. Following the sale, the chief executive officer now owns 2,027 shares in the company, valued at approximately $124,782.12. The disclosure for this sale can be found here. Insiders have sold 6,224 shares of company stock worth $384,376 in the last quarter. Insiders own 1.48% of the company’s stock.

Northwest Natural Gas Company Profile

Northwest Natural Gas Company (NW Natural) 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.

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

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