New York State Common Retirement Fund lessened its stake in Northwest Natural Holding Co (NYSE:NWN) by 14.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,100 shares of the utilities provider’s stock after selling 4,700 shares during the quarter. New York State Common Retirement Fund owned 0.10% of Northwest Natural worth $1,699,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. purchased a new stake in Northwest Natural in the fourth quarter worth approximately $1,158,000. Toronto Dominion Bank bought a new position in shares of Northwest Natural in the 4th quarter worth $541,000. First Trust Advisors LP raised its position in shares of Northwest Natural by 13.7% in the 4th quarter. First Trust Advisors LP now owns 389,278 shares of the utilities provider’s stock worth $23,536,000 after acquiring an additional 46,963 shares in the last quarter. Piedmont Investment Advisors Inc. raised its position in shares of Northwest Natural by 3.4% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 6,861 shares of the utilities provider’s stock worth $415,000 after acquiring an additional 228 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new position in shares of Northwest Natural in the 4th quarter worth $663,000. Institutional investors own 68.52% of the company’s stock.
Shares of NWN stock traded down $0.21 on Monday, reaching $65.45. 60,308 shares of the stock were exchanged, compared to its average volume of 120,016. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 6.64 and a beta of 0.40. The company has a quick ratio of 0.49, a current ratio of 0.58 and a debt-to-equity ratio of 0.93. Northwest Natural Holding Co has a 1-year low of $56.90 and a 1-year high of $71.81.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a $0.475 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.90 annualized dividend and a yield of 2.90%. Northwest Natural’s dividend payout ratio is currently 81.55%.
A number of analysts have recently commented on NWN shares. Zacks Investment Research cut Northwest Natural from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. Wells Fargo & Co upped their target price on Northwest Natural from $65.00 to $67.00 and gave the company a “market perform” rating in a research note on Monday, March 4th. TheStreet upgraded Northwest Natural from a “c” rating to a “b-” rating in a report on Friday, March 1st. Guggenheim restated a “sell” rating and set a $49.00 price objective on shares of Northwest Natural in a report on Monday, January 7th. Finally, Maxim Group began coverage on Northwest Natural in a report on Tuesday, January 8th. They set a “buy” rating and a $72.00 price objective for the company. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $64.00.
In related news, CEO David Hugo Anderson sold 19,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $64.94, for a total value of $1,233,860.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director C Scott Gibson sold 1,746 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $65.31, for a total value of $114,031.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,918 shares of company stock valued at $1,873,347. 1.19% of the stock is owned by insiders.
About Northwest Natural
Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, and industrial customers in Oregon and Southwest Washington. It is also involved in the gas storage activities, water businesses, and other investments and activities.
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