Northwest Natural Gas Co (NYSE:NWN) Stake Decreased by Wells Fargo & Company MN

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Wells Fargo & Company MN reduced its position in Northwest Natural Gas Co (NYSE:NWN) by 1.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 170,398 shares of the utilities provider’s stock after selling 2,261 shares during the quarter. Wells Fargo & Company MN owned about 0.59% of Northwest Natural Gas worth $9,824,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Northwest Natural Gas by 2.7% in the fourth quarter. BlackRock Inc. now owns 3,747,717 shares of the utilities provider’s stock valued at $223,552,000 after acquiring an additional 97,590 shares during the period. Renaissance Technologies LLC raised its stake in shares of Northwest Natural Gas by 8.3% during the fourth quarter. Renaissance Technologies LLC now owns 450,700 shares of the utilities provider’s stock worth $26,884,000 after purchasing an additional 34,500 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Northwest Natural Gas by 20.1% during the fourth quarter. First Trust Advisors LP now owns 403,053 shares of the utilities provider’s stock worth $24,042,000 after purchasing an additional 67,493 shares during the last quarter. OLD Republic International Corp raised its stake in shares of Northwest Natural Gas by 26.1% during the fourth quarter. OLD Republic International Corp now owns 332,000 shares of the utilities provider’s stock worth $19,804,000 after purchasing an additional 68,700 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Northwest Natural Gas by 2.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 209,402 shares of the utilities provider’s stock worth $12,491,000 after purchasing an additional 5,401 shares during the last quarter. 67.47% of the stock is owned by institutional investors and hedge funds.

NYSE:NWN traded up $0.20 during mid-day trading on Wednesday, reaching $63.90. The company’s stock had a trading volume of 152,600 shares, compared to its average volume of 136,169. The company has a current ratio of 0.76, a quick ratio of 0.65 and a debt-to-equity ratio of 0.89. Northwest Natural Gas Co has a twelve month low of $51.50 and a twelve month high of $69.50. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 6.59 and a beta of 0.35.

Northwest Natural Gas (NYSE:NWN) last issued its earnings results on Tuesday, May 8th. The utilities provider reported $1.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.03. Northwest Natural Gas had a negative net margin of 7.46% and a positive return on equity of 8.14%. The company had revenue of $264.70 million for the quarter, compared to analysts’ expectations of $296.20 million. During the same period in the prior year, the business earned $1.40 EPS. The firm’s quarterly revenue was down 11.0% on a year-over-year basis. research analysts forecast that Northwest Natural Gas Co will post 2.23 earnings per share for the current fiscal year.

Several research analysts have issued reports on NWN shares. Bank of America started coverage on Northwest Natural Gas in a research report on Tuesday, February 27th. They issued an “underperform” rating for the company. Hilliard Lyons upgraded Northwest Natural Gas from an “underperform” rating to a “neutral” rating in a research report on Tuesday, February 27th. Zacks Investment Research cut Northwest Natural Gas from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Wells Fargo & Co upgraded Northwest Natural Gas from an “underperform” rating to a “market perform” rating and set a $52.00 price target for the company in a research report on Monday, March 5th. Finally, ValuEngine upgraded Northwest Natural Gas from a “hold” rating to a “buy” rating in a research report on Friday, April 27th. Two analysts have rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $61.00.

Northwest Natural Gas Profile

Northwest Natural Gas Company engages in gas distribution and storage businesses in the United States. It operates in two segments, Local Gas Distribution and Gas Storage. The Local Gas Distribution segment engages in the purchase, sale, and delivery of natural gas and related services to residential, commercial, and industrial customers in Oregon and southwest Washington.

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

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