Trade Report: The Strs Ohio cuts position of Northwest Natural Gas Co. (NWN)

The Strs Ohio cuts position of Northwest Natural Gas Co. (NWN)

Strs Ohio cut its stake in Northwest Natural Gas Co. (NYSE:NWN) by 3.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 18,000 shares of the company’s stock after selling 600 shares during the period. Strs Ohio’s holdings in Northwest Natural Gas were worth $1,166,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of NWN. Louisiana State Employees Retirement System boosted its stake in shares of Northwest Natural Gas by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 12,200 shares of the company’s stock valued at $791,000 after buying an additional 100 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of Northwest Natural Gas by 10.0% in the second quarter. Capstone Asset Management Co. now owns 8,350 shares of the company’s stock valued at $541,000 after buying an additional 760 shares during the last quarter. Barclays PLC boosted its stake in shares of Northwest Natural Gas by 5.1% in the first quarter. Barclays PLC now owns 16,860 shares of the company’s stock valued at $894,000 after buying an additional 816 shares during the last quarter. HL Financial Services LLC boosted its stake in shares of Northwest Natural Gas by 22.0% in the second quarter. HL Financial Services LLC now owns 6,632 shares of the company’s stock valued at $430,000 after buying an additional 1,197 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Northwest Natural Gas by 10.8% in the first quarter. BlackRock Inc. now owns 20,729 shares of the company’s stock valued at $1,116,000 after buying an additional 2,023 shares during the last quarter. 61.09% of the stock is currently owned by institutional investors.

Northwest Natural Gas Co. (NYSE:NWN) traded up 1.15% during midday trading on Thursday, reaching $58.07. The company’s stock had a trading volume of 132,134 shares. The firm has a 50 day moving average price of $59.84 and a 200-day moving average price of $58.89. Northwest Natural Gas Co. has a 12-month low of $45.38 and a 12-month high of $66.17. The company has a market cap of $1.60 billion, a P/E ratio of 25.90 and a beta of 0.36.

Northwest Natural Gas (NYSE:NWN) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01. Northwest Natural Gas had a return on equity of 8.09% and a net margin of 9.09%. The firm earned $99.20 million during the quarter, compared to analyst estimates of $111.12 million. During the same period last year, the company earned $0.08 EPS. Northwest Natural Gas’s quarterly revenue was down 28.2% compared to the same quarter last year. On average, equities research analysts predict that Northwest Natural Gas Co. will post $2.08 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 31st will be paid a dividend of $0.47 per share. This is a positive change from Northwest Natural Gas’s previous quarterly dividend of $0.47. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Thursday, October 27th. Northwest Natural Gas’s dividend payout ratio (DPR) is currently 83.48%.

Separately, Zacks Investment Research raised Northwest Natural Gas from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Wednesday, July 6th.

About Northwest Natural Gas

Northwest Natural Gas Company 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. The local gas distribution business, referred to as the utility segment, serves residential, commercial, and industrial customers in Oregon and southwest Washington.

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