Allspring Global Investments Holdings LLC Sells 1,054 Shares of Northwest Natural Holding (NYSE:NWN)

Allspring Global Investments Holdings LLC trimmed its stake in Northwest Natural Holding (NYSE:NWN) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,499 shares of the utilities provider’s stock after selling 1,054 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.09% of Northwest Natural worth $1,227,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NWN. Ronald Blue Trust Inc. bought a new position in Northwest Natural during the third quarter valued at approximately $31,000. Spirit of America Management Corp NY grew its position in Northwest Natural by 52.0% during the third quarter. Spirit of America Management Corp NY now owns 1,900 shares of the utilities provider’s stock valued at $73,000 after acquiring an additional 650 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Northwest Natural during the fourth quarter valued at approximately $138,000. Daiwa Securities Group Inc. grew its holdings in shares of Northwest Natural by 125.1% in the third quarter. Daiwa Securities Group Inc. now owns 5,113 shares of the utilities provider’s stock worth $195,000 after purchasing an additional 2,842 shares during the last quarter. Finally, Perigon Wealth Management LLC grew its holdings in shares of Northwest Natural by 5.3% in the third quarter. Perigon Wealth Management LLC now owns 5,775 shares of the utilities provider’s stock worth $220,000 after purchasing an additional 292 shares during the last quarter. 75.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott assumed coverage on shares of Northwest Natural in a report on Wednesday, January 31st. They issued a “neutral” rating and a $39.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $45.20.

Northwest Natural Stock Up 0.8 %

Shares of Northwest Natural stock opened at $38.30 on Wednesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.70 and a current ratio of 0.86. Northwest Natural Holding has a 52-week low of $34.95 and a 52-week high of $48.37. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 14.73 and a beta of 0.57. The company’s 50 day moving average price is $36.84 and its 200-day moving average price is $37.58.

Northwest Natural (NYSE:NWN) last announced its quarterly earnings results on Friday, February 23rd. The utilities provider reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.10). Northwest Natural had a return on equity of 7.52% and a net margin of 7.84%. The business had revenue of $355.71 million during the quarter, compared to analysts’ expectations of $368.78 million. During the same period in the previous year, the business earned $1.36 EPS. Equities research analysts forecast that Northwest Natural Holding will post 2.27 EPS for the current year.

Northwest Natural Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a $0.488 dividend. This represents a $1.95 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date of this dividend is Monday, April 29th. Northwest Natural’s payout ratio is 75.00%.

Northwest Natural Company Profile

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.