Northwest Natural (NYSE:NWN) Shares Up 2.4% – Here’s Why

Northwest Natural Holding (NYSE:NWN)’s stock price traded up 2.4% on Friday . The stock traded as high as $42.59 and last traded at $42.67. 145,142 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 234,696 shares. The stock had previously closed at $41.69.

Northwest Natural Stock Up 2.2 %

The company has a current ratio of 0.72, a quick ratio of 0.53 and a debt-to-equity ratio of 1.15. The business’s 50-day simple moving average is $41.01 and its 200-day simple moving average is $40.65. The company has a market capitalization of $1.71 billion, a PE ratio of 20.10 and a beta of 0.59.

Northwest Natural (NYSE:NWN) last posted its earnings results on Friday, February 28th. The utilities provider reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.01). Northwest Natural had a net margin of 6.90% and a return on equity of 5.89%. The business had revenue of $370.90 million for the quarter, compared to analyst estimates of $395.05 million. During the same quarter in the prior year, the firm earned $1.21 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, equities research analysts anticipate that Northwest Natural Holding will post 2.33 EPS for the current fiscal year.

Northwest Natural Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.49 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.96 annualized dividend and a yield of 4.60%. Northwest Natural’s dividend payout ratio is presently 96.55%.

Insider Transactions at Northwest Natural

In other news, CEO David Hugo Anderson sold 7,500 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $40.97, for a total transaction of $307,275.00. Following the sale, the chief executive officer now directly owns 130,242 shares of the company’s stock, valued at $5,336,014.74. This represents a 5.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 23,009 shares of company stock valued at $949,578 in the last 90 days. 0.84% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Northwest Natural

A number of large investors have recently bought and sold shares of the business. Capital Advisors Ltd. LLC increased its position in shares of Northwest Natural by 11,111.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,009 shares of the utilities provider’s stock valued at $40,000 after buying an additional 1,000 shares in the last quarter. LRI Investments LLC raised its position in shares of Northwest Natural by 692.4% during the 3rd quarter. LRI Investments LLC now owns 1,046 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 914 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Northwest Natural in the 3rd quarter valued at about $61,000. Point72 DIFC Ltd purchased a new stake in Northwest Natural during the 3rd quarter worth approximately $78,000. Finally, KBC Group NV lifted its position in shares of Northwest Natural by 74.1% in the fourth quarter. KBC Group NV now owns 2,054 shares of the utilities provider’s stock valued at $81,000 after acquiring an additional 874 shares in the last quarter. Institutional investors and hedge funds own 75.13% of the company’s stock.

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 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.