Teacher Retirement System of Texas Buys 471 Shares of Northwest Natural Gas Co. (NWN)
Teacher Retirement System of Texas increased its stake in shares of Northwest Natural Gas Co. (NYSE:NWN) by 14.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 3,828 shares of the company’s stock after buying an additional 471 shares during the period. Teacher Retirement System of Texas’ holdings in Northwest Natural Gas were worth $248,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in NWN. Sharkey Howes & Javer boosted its position in Northwest Natural Gas by 0.8% in the second quarter. Sharkey Howes & Javer now owns 2,148 shares of the company’s stock valued at $139,000 after buying an additional 17 shares during the last quarter. Neuberger Berman Group LLC acquired a new position in Northwest Natural Gas during the second quarter valued at about $204,000. Quotient Investors LLC acquired a new position in Northwest Natural Gas during the second quarter valued at about $207,000. CIBC Asset Management Inc acquired a new position in Northwest Natural Gas during the second quarter valued at about $208,000. Finally, BB&T Securities LLC acquired a new position in Northwest Natural Gas during the second quarter valued at about $211,000. Institutional investors own 61.10% of the company’s stock.
Shares of Northwest Natural Gas Co. (NYSE:NWN) opened at 59.37 on Wednesday. Northwest Natural Gas Co. has a 12-month low of $45.38 and a 12-month high of $66.17. The firm has a market cap of $1.64 billion, a PE ratio of 26.48 and a beta of 0.36. The company has a 50 day moving average price of $59.56 and a 200-day moving average price of $59.06.
Northwest Natural Gas (NYSE:NWN) last issued its 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 net margin of 9.09% and a return on equity of 8.09%. The firm had revenue of $99.20 million for the quarter, compared to analysts’ expectations of $111.12 million. During the same quarter last year, the company posted $0.08 earnings per share. Northwest Natural Gas’s revenue was down 28.2% on a year-over-year basis. Analysts expect that Northwest Natural Gas Co. will post $2.08 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 31st will be issued a $0.47 dividend. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.17%. This is a boost from Northwest Natural Gas’s previous quarterly dividend of $0.47. Northwest Natural Gas’s dividend payout ratio (DPR) is currently 83.48%.
Separately, Zacks Investment Research upgraded Northwest Natural Gas from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Thursday, August 4th.
Northwest Natural Gas Company Profile
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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