State Board of Administration of Florida Retirement System Acquires 300 Shares of Northwest Natural Holding (NYSE:NWN)

Posted by Defense World Staff on May 18th, 2023

State Board of Administration of Florida Retirement System lifted its holdings in shares of Northwest Natural Holding (NYSE:NWN – Get Rating) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,638 shares of the utilities provider’s stock after acquiring an additional 300 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Northwest Natural were worth $744,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc lifted its position in Northwest Natural by 83.7% during the third quarter. Versant Capital Management Inc now owns 652 shares of the utilities provider’s stock valued at $28,000 after buying an additional 297 shares during the period. Quadrant Capital Group LLC lifted its position in Northwest Natural by 36.6% during the third quarter. Quadrant Capital Group LLC now owns 930 shares of the utilities provider’s stock valued at $40,000 after buying an additional 249 shares during the period. Rockefeller Capital Management L.P. lifted its position in Northwest Natural by 322.0% during the third quarter. Rockefeller Capital Management L.P. now owns 1,401 shares of the utilities provider’s stock valued at $60,000 after buying an additional 1,069 shares during the period. Tower Research Capital LLC TRC lifted its position in Northwest Natural by 45.5% during the third quarter. Tower Research Capital LLC TRC now owns 1,781 shares of the utilities provider’s stock valued at $78,000 after buying an additional 557 shares during the period. Finally, Captrust Financial Advisors lifted its position in Northwest Natural by 133.2% during the first quarter. Captrust Financial Advisors now owns 2,129 shares of the utilities provider’s stock valued at $110,000 after buying an additional 1,216 shares during the period. Institutional investors own 74.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Stifel Nicolaus lifted their price target on Northwest Natural from $57.00 to $59.00 in a research report on Wednesday. TheStreet upgraded Northwest Natural from a “c+” rating to a “b” rating in a report on Friday, February 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $52.00 price objective on shares of Northwest Natural in a report on Friday, March 10th. Maxim Group downgraded Northwest Natural from a “buy” rating to a “hold” rating in a research note on Friday, May 5th. Finally, StockNews.com began coverage on Northwest Natural in a research note on Thursday. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, Northwest Natural currently has an average rating of “Hold” and a consensus target price of $50.40.

Northwest Natural Stock Up 1.9 %

NYSE NWN opened at $44.90 on Thursday. The stock’s 50 day moving average is $46.99 and its 200 day moving average is $47.84. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.04. Northwest Natural Holding has a 12 month low of $42.37 and a 12 month high of $55.97. The stock has a market cap of $1.62 billion, a PE ratio of 15.70, a P/E/G ratio of 4.61 and a beta of 0.59.

Northwest Natural (NYSE:NWN – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The utilities provider reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.08. The business had revenue of $462.40 million for the quarter, compared to analysts’ expectations of $365.46 million. Northwest Natural had a return on equity of 8.69% and a net margin of 8.85%. The company’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.80 EPS. Research analysts predict that Northwest Natural Holding will post 2.68 EPS for the current fiscal year.

Northwest Natural Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, April 28th were given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 4.32%. The ex-dividend date was Thursday, April 27th. Northwest Natural’s dividend payout ratio is currently 67.83%.

Northwest Natural Profile

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Northwest Natural Holding Co engages in the local distribution of gas and water through its subsidiaries. It supplies natural gas to residential, commercial, and industrial customers in Oregon and southwest Washington. The company founded in 1859 and is headquartered in Portland, OR.