Northwest Natural (NYSE:NWN) Trading 2.4% Higher – Here’s What Happened

Northwest Natural Holding (NYSE:NWN)’s stock price rose 2.4% on Friday . The company traded as high as $42.59 and last traded at $42.67. Approximately 145,142 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 234,696 shares. The stock had previously closed at $41.69.

Northwest Natural Stock Performance

The company has a market capitalization of $1.71 billion, a P/E ratio of 20.10 and a beta of 0.59. The company’s 50 day moving average is $41.05 and its 200-day moving average is $40.68. The company has a current ratio of 0.72, a quick ratio of 0.53 and a debt-to-equity ratio of 1.15.

Northwest Natural (NYSE:NWN) last announced its earnings results on Friday, February 28th. The utilities provider reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.01). Northwest Natural had a net margin of 6.90% and a return on equity of 5.89%. The business had revenue of $370.90 million for the quarter, compared to the consensus estimate of $395.05 million. During the same period in the prior year, the business posted $1.21 EPS. Northwest Natural’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities analysts anticipate that Northwest Natural Holding will post 2.33 EPS for the current fiscal year.

Northwest Natural Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date was Friday, January 31st. Northwest Natural’s payout ratio is 96.55%.

Insiders Place Their Bets

In other news, CEO David Hugo Anderson sold 7,500 shares of Northwest Natural stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $41.46, for a total value of $310,950.00. Following the completion of the transaction, the chief executive officer now owns 117,382 shares of the company’s stock, valued at $4,866,657.72. The trade was a 6.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 23,009 shares of company stock valued at $949,578. 0.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Northwest Natural

Institutional investors and hedge funds have recently bought and sold shares of the company. Capital Advisors Ltd. LLC lifted its stake in shares of Northwest Natural by 11,111.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,009 shares of the utilities provider’s stock worth $40,000 after buying an additional 1,000 shares in the last quarter. LRI Investments LLC raised its holdings in Northwest Natural by 692.4% in the 3rd quarter. LRI Investments LLC now owns 1,046 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 914 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Northwest Natural in the 3rd quarter valued at approximately $61,000. Point72 DIFC Ltd purchased a new stake in Northwest Natural during the 3rd quarter valued at $78,000. Finally, KBC Group NV boosted its stake in Northwest Natural by 74.1% during the 4th quarter. KBC Group NV now owns 2,054 shares of the utilities provider’s stock valued at $81,000 after purchasing an additional 874 shares during the last quarter. 75.13% of the stock is currently owned by institutional investors.

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 the United States. The company operates a mist gas storage facility contracted to other utilities, third-party marketers, and electric generators; offers natural gas asset management services; and operates an appliance retail center.