Northwest Natural Gas Co. (NWN) Announces Dividend Increase – $0.47 Per Share
Northwest Natural Gas Co. (NYSE:NWN) announced a quarterly dividend on Thursday, October 6th. Investors of record on Monday, October 31st will be paid a dividend of 0.47 per share on Tuesday, November 15th. This represents a $1.88 annualized dividend and a yield of 3.31%. This is a boost from Northwest Natural Gas’s previous quarterly dividend of $0.47.
Shares of Northwest Natural Gas (NYSE:NWN) opened at 56.81 on Friday. Northwest Natural Gas has a 12 month low of $45.38 and a 12 month high of $66.17. The stock has a market capitalization of $1.57 billion, a P/E ratio of 25.34 and a beta of 0.36. The company’s 50-day moving average is $60.37 and its 200 day moving average is $58.75.
Northwest Natural Gas (NYSE:NWN) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. The company earned $99.20 million during the quarter, compared to analyst estimates of $111.12 million. Northwest Natural Gas had a net margin of 9.09% and a return on equity of 8.09%. Northwest Natural Gas’s quarterly revenue was down 28.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 earnings per share. Equities research analysts predict that Northwest Natural Gas will post $2.08 earnings per share for the current year.
Separately, Zacks Investment Research lowered shares of Northwest Natural Gas from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th.
In other news, CEO Gregg S. Kantor sold 1,000 shares of the business’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $63.91, for a total transaction of $63,910.00. Following the completion of the sale, the chief executive officer now directly owns 43,410 shares of the company’s stock, valued at $2,774,333.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.07% of the company’s stock.
Several hedge funds have recently modified their holdings of NWN. BlackRock Fund Advisors raised its stake in shares of Northwest Natural Gas by 3.6% in the second quarter. BlackRock Fund Advisors now owns 1,810,405 shares of the company’s stock worth $117,350,000 after buying an additional 62,318 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Northwest Natural Gas by 1.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 701,387 shares of the company’s stock valued at $45,464,000 after buying an additional 8,976 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in Northwest Natural Gas by 3.3% in the second quarter. Parametric Portfolio Associates LLC now owns 145,131 shares of the company’s stock valued at $9,407,000 after buying an additional 4,608 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in Northwest Natural Gas by 33.1% in the second quarter. TIAA CREF Investment Management LLC now owns 131,948 shares of the company’s stock valued at $8,553,000 after buying an additional 32,822 shares during the last quarter. Finally, BlackRock Investment Management LLC increased its stake in Northwest Natural Gas by 7.6% in the second quarter. BlackRock Investment Management LLC now owns 123,302 shares of the company’s stock valued at $7,992,000 after buying an additional 8,707 shares during the last quarter. 61.07% of the stock is owned by hedge funds and other institutional investors.
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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