Northwest Natural Gas Co. (NWN) Shares Down 2.4%
Shares of Northwest Natural Gas Co. (NYSE:NWN) traded down 2.4% during mid-day trading on Friday . The company traded as low as $60.22 and last traded at $60.22, with a volume of 74,386 shares trading hands. The stock had previously closed at $61.70.
A number of analysts have recently issued reports on the company. Zacks Investment Research raised Northwest Natural Gas from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Thursday, August 4th. Hilliard Lyons lowered Northwest Natural Gas from a “neutral” rating to an “underperform” rating in a research note on Thursday, May 26th.
The stock has a market cap of $1.66 billion and a P/E ratio of 26.86. The firm has a 50-day moving average price of $63.65 and a 200 day moving average price of $57.03.
Northwest Natural Gas (NYSE:NWN) last issued its earnings results on Tuesday, August 2nd. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The firm earned $99.20 million during the quarter, compared to the consensus estimate of $111.12 million. During the same period in the previous year, the firm earned $0.08 earnings per share. The business’s quarterly revenue was down 28.2% on a year-over-year basis. Equities research analysts expect that Northwest Natural Gas Co. will post $2.08 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Friday, July 29th were issued a dividend of $0.4675 per share. This represents a $1.87 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Wednesday, July 27th.
In other Northwest Natural Gas news, CEO David A. Weber sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $59.38, for a total transaction of $118,760.00. Following the completion of the sale, the chief executive officer now directly owns 2,360 shares of the company’s stock, valued at approximately $140,136.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregg S. Kantor sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of $59.16, for a total value of $59,160.00. Following the sale, the chief executive officer now directly owns 44,210 shares of the company’s stock, valued at $2,615,463.60. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Northwest Natural Gas stock. US Bancorp DE increased its position in Northwest Natural Gas Co. (NYSE:NWN) by 10.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,010 shares of the company’s stock after buying an additional 2,199 shares during the period. US Bancorp DE owned about 0.08% of Northwest Natural Gas worth $1,164,000 at the end of the most recent quarter.
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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