Allspring Global Investments Holdings LLC lessened its stake in Northwest Natural Holding (NYSE:NWN – Get Rating) by 1.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 39,027 shares of the utilities provider’s stock after selling 469 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Northwest Natural were worth $1,692,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in NWN. Millennium Management LLC lifted its stake in shares of Northwest Natural by 372.0% in the 2nd quarter. Millennium Management LLC now owns 445,329 shares of the utilities provider’s stock valued at $23,647,000 after purchasing an additional 350,988 shares during the period. Vanguard Group Inc. lifted its stake in shares of Northwest Natural by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 3,878,324 shares of the utilities provider’s stock valued at $200,586,000 after purchasing an additional 277,421 shares during the period. State Street Corp lifted its stake in shares of Northwest Natural by 16.9% in the 1st quarter. State Street Corp now owns 1,562,357 shares of the utilities provider’s stock valued at $80,805,000 after purchasing an additional 226,118 shares during the period. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income acquired a new position in shares of Northwest Natural in the 2nd quarter valued at about $7,176,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Northwest Natural by 41.3% in the 2nd quarter. Victory Capital Management Inc. now owns 449,112 shares of the utilities provider’s stock valued at $23,848,000 after purchasing an additional 131,296 shares during the period. Institutional investors own 74.80% of the company’s stock.
Northwest Natural Stock Up 0.5 %
NWN stock opened at $48.76 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.75 and a current ratio of 0.94. The stock’s 50 day simple moving average is $48.28 and its 200 day simple moving average is $48.76. The company has a market cap of $1.71 billion, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 4.24 and a beta of 0.55. Northwest Natural Holding has a fifty-two week low of $42.37 and a fifty-two week high of $57.63.
Northwest Natural Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Tuesday, January 31st will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Monday, January 30th. Northwest Natural’s dividend payout ratio is currently 74.62%.
Wall Street Analysts Forecast Growth
NWN has been the topic of a number of recent analyst reports. Guggenheim dropped their price objective on Northwest Natural from $49.00 to $40.00 in a research note on Monday, October 24th. StockNews.com raised Northwest Natural from a “sell” rating to a “hold” rating in a research note on Tuesday, November 22nd. Finally, Wells Fargo & Company dropped their price target on Northwest Natural from $55.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 19th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat, Northwest Natural presently has a consensus rating of “Hold” and a consensus target price of $50.60.
Northwest Natural Company Profile
Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, industrial, and transportation customers in Oregon and Southwest Washington. The company also operates 5.7 billion cubic feet of the Mist gas storage facility contracted to other utilities and third-party marketers; offers natural gas asset management services; and operates an appliance retail center.
- Get a free copy of the StockNews.com research report on Northwest Natural (NWN)
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