Insider Selling: Northwest Natural Gas (NYSE:NWN) Director Sells $72,045.00 in Stock

Northwest Natural Gas Company (NYSE:NWN) Director David Anderson sold 1,500 shares of the company’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $48.03, for a total value of $72,045.00. Following the transaction, the director owned 49,259 shares of the company’s stock, valued at approximately $2,365,909.77. The trade was a 2.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

David Hugo Anderson also recently made the following trade(s):

• On Tuesday, August 18th, David Anderson sold 1,500 shares of Northwest Natural Gas stock. The stock was sold at an average price of $50.86, for a total transaction of $76,290.00.
• On Monday, July 20th, David Anderson sold 1,500 shares of Northwest Natural Gas stock. The shares were sold at an average price of $51.18, for a total transaction of $76,770.00.

Northwest Natural Gas Stock Down 1.1%

NWN opened at $47.26 on Thursday. Northwest Natural Gas Company has a 12 month low of $43.35 and a 12 month high of $55.99. The stock has a market cap of $1.99 billion, a P/E ratio of 15.75 and a beta of 0.44. The stock’s 50 day moving average price is $49.83 and its 200 day moving average price is $50.76. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.77 and a quick ratio of 0.55.

Northwest Natural Gas (NYSE:NWN) last issued its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The business had revenue of $243.55 million for the quarter, compared to analysts’ expectations of $271.87 million. Northwest Natural Gas had a net margin of 9.75% and a return on equity of 8.33%. The company’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.01 earnings per share. As a group, research analysts predict that Northwest Natural Gas Company will post 3.04 earnings per share for the current year.

Northwest Natural Gas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a dividend of $0.4925 per share. The ex-dividend date was Friday, July 31st. This represents a $1.97 annualized dividend and a dividend yield of 4.2%. Northwest Natural Gas’s dividend payout ratio (DPR) is 65.67%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Versant Capital Management Inc raised its stake in shares of Northwest Natural Gas by 197.5% in the 2nd quarter. Versant Capital Management Inc now owns 723 shares of the utilities provider’s stock valued at $35,000 after buying an additional 480 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Northwest Natural Gas during the second quarter worth approximately $45,000. Larson Financial Group LLC raised its position in Northwest Natural Gas by 57.0% in the 4th quarter. Larson Financial Group LLC now owns 1,116 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 405 shares during the last quarter. Axiom Investment Management LLC bought a new position in shares of Northwest Natural Gas in the first quarter valued at about $71,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Northwest Natural Gas in the second quarter worth about $78,000. 75.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Northwest Natural Gas in a report on Wednesday, August 26th. Wells Fargo & Company upgraded Northwest Natural Gas from an “underweight” rating to an “equal weight” rating and set a $50.00 target price on the stock in a report on Thursday, August 6th. Finally, Huntington began coverage on shares of Northwest Natural Gas in a research note on Monday, September 14th. They issued an “outperform” rating and a $58.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.80.

Northwest Natural Gas Company Profile

Northwest Natural Gas Company, operating under Northwest Natural Holding Company, is an energy and utility company headquartered in Portland, Oregon. Its principal business is the distribution of natural gas to residential, commercial and industrial customers, along with related utility and energy services.

Through its regulated natural gas utility, Northwest Natural serves customers in Oregon and southwest Washington. The company also has expanded beyond its traditional gas-distribution operations through businesses involved in water and wastewater services, renewable natural gas and other energy-related activities.

The company traces its history to 1859 and has developed into one of the Pacific Northwest’s established natural gas utilities.