Northwest Natural Holding (NYSE:NWN) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Northwest Natural Holding (NYSE:NWN) by 74.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,097 shares of the utilities provider’s stock after purchasing an additional 11,571 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.07% of Northwest Natural worth $1,055,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NWN. JGP Wealth Management LLC lifted its holdings in shares of Northwest Natural by 4.5% during the fourth quarter. JGP Wealth Management LLC now owns 6,009 shares of the utilities provider’s stock worth $234,000 after purchasing an additional 260 shares during the period. Magellan Asset Management Ltd boosted its stake in shares of Northwest Natural by 1.3% in the third quarter. Magellan Asset Management Ltd now owns 22,787 shares of the utilities provider’s stock worth $870,000 after buying an additional 282 shares during the last quarter. Perigon Wealth Management LLC grew its holdings in Northwest Natural by 5.3% during the third quarter. Perigon Wealth Management LLC now owns 5,775 shares of the utilities provider’s stock worth $220,000 after acquiring an additional 292 shares during the period. Spirit of America Management Corp NY increased its holdings in shares of Northwest Natural by 52.0% during the 3rd quarter. Spirit of America Management Corp NY now owns 1,900 shares of the utilities provider’s stock valued at $73,000 after purchasing an additional 650 shares in the last quarter. Finally, Ronald Blue Trust Inc. purchased a new position in Northwest Natural in the third quarter valued at $31,000. Hedge funds and other institutional investors own 75.13% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott began coverage on Northwest Natural in a report on Wednesday, January 31st. They issued a “neutral” rating and a $39.00 price target for the company. One investment 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 an average rating of “Hold” and a consensus price target of $45.20.

Northwest Natural Stock Up 0.8 %

NWN stock opened at $38.30 on Wednesday. Northwest Natural Holding has a 52 week low of $34.95 and a 52 week high of $48.37. The company has a quick ratio of 0.70, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The firm has a 50-day simple moving average of $36.84 and a 200-day simple moving average of $37.58. The stock has a market capitalization of $1.46 billion, a P/E ratio of 14.73 and a beta of 0.57.

Northwest Natural (NYSE:NWN) last announced its 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). The firm had revenue of $355.71 million for the quarter, compared to analyst estimates of $368.78 million. Northwest Natural had a net margin of 7.84% and a return on equity of 7.52%. During the same period in the previous year, the company earned $1.36 EPS. Equities analysts forecast that Northwest Natural Holding will post 2.27 earnings per share for the current fiscal year.

Northwest Natural Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.488 per share. The ex-dividend date is Monday, April 29th. This represents a $1.95 annualized dividend and a yield of 5.10%. Northwest Natural’s dividend payout ratio (DPR) is presently 75.00%.

Northwest Natural 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.