PNC Financial Services Group Inc. reduced its stake in shares of Northwest Natural Gas Company (NYSE:NWN) by 22.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,040 shares of the utilities provider’s stock after selling 2,639 shares during the period. PNC Financial Services Group Inc.’s holdings in Northwest Natural Gas were worth $541,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Northwest Natural Gas by 12,672.6% during the 1st quarter. BlackRock Inc. now owns 3,607,352 shares of the utilities provider’s stock valued at $213,194,000 after acquiring an additional 3,579,109 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Northwest Natural Gas by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 2,703,884 shares of the utilities provider’s stock valued at $159,800,000 after purchasing an additional 120,458 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Northwest Natural Gas by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 850,548 shares of the utilities provider’s stock valued at $50,267,000 after purchasing an additional 3,198 shares during the last quarter. State Street Corp lifted its stake in shares of Northwest Natural Gas by 4.9% in the 1st quarter. State Street Corp now owns 700,195 shares of the utilities provider’s stock valued at $41,379,000 after purchasing an additional 32,715 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Northwest Natural Gas by 1.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 461,003 shares of the utilities provider’s stock valued at $27,591,000 after purchasing an additional 5,726 shares during the last quarter. Institutional investors and hedge funds own 63.31% of the company’s stock.

Shares of Northwest Natural Gas Company (NYSE NWN) opened at 65.55 on Monday. The company has a 50 day moving average of $65.87 and a 200 day moving average of $62.48. Northwest Natural Gas Company has a 1-year low of $53.50 and a 1-year high of $68.60. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 29.33 and a beta of 0.42.

Northwest Natural Gas (NYSE:NWN) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The business had revenue of $136.24 million during the quarter, compared to the consensus estimate of $78.51 million. Northwest Natural Gas had a net margin of 8.38% and a return on equity of 7.51%. The firm’s revenue for the quarter was up 37.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.07 earnings per share. On average, equities analysts forecast that Northwest Natural Gas Company will post $2.17 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be given a $0.4725 dividend. The ex-dividend date is Monday, October 30th. This represents a $1.89 dividend on an annualized basis and a yield of 2.88%. This is an increase from Northwest Natural Gas’s previous quarterly dividend of $0.47. Northwest Natural Gas’s dividend payout ratio (DPR) is 85.07%.

NWN has been the subject of several analyst reports. BidaskClub lowered shares of Northwest Natural Gas from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Zacks Investment Research lowered shares of Northwest Natural Gas from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $66.00.

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In other news, CEO David Hugo Anderson sold 8,000 shares of Northwest Natural Gas stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $66.97, for a total value of $535,760.00. Following the completion of the transaction, the chief executive officer now owns 71,484 shares of the company’s stock, valued at approximately $4,787,283.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Lori L. Russell sold 2,000 shares of Northwest Natural Gas stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $66.93, for a total transaction of $133,860.00. Following the completion of the transaction, the vice president now directly owns 3,512 shares of the company’s stock, valued at approximately $235,058.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,202 shares of company stock valued at $879,666. 1.48% of the stock is owned by insiders.

Northwest Natural Gas Company Profile

Northwest Natural Gas Company (NW Natural) 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.

Institutional Ownership by Quarter for Northwest Natural Gas (NYSE:NWN)

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