Panagora Asset Management Inc. Sells 5,601 Shares of Northwest Natural Holding (NYSE:NWN)

Posted by on Sep 8th, 2023

Panagora Asset Management Inc. decreased its holdings in shares of Northwest Natural Holding (NYSE:NWN – Free Report) by 21.3% in the 1st quarter, Holdings Channel reports. The fund owned 20,671 shares of the utilities provider’s stock after selling 5,601 shares during the period. Panagora Asset Management Inc.’s holdings in Northwest Natural were worth $983,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Avalon Trust Co bought a new position in Northwest Natural in the 1st quarter valued at approximately $32,000. FMR LLC lifted its stake in Northwest Natural by 23.8% in the 1st quarter. FMR LLC now owns 1,452 shares of the utilities provider’s stock valued at $69,000 after purchasing an additional 279 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Northwest Natural by 45.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,781 shares of the utilities provider’s stock worth $78,000 after acquiring an additional 557 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in Northwest Natural by 40.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,971 shares of the utilities provider’s stock worth $93,000 after purchasing an additional 570 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in Northwest Natural by 113.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,988 shares of the utilities provider’s stock valued at $95,000 after purchasing an additional 1,058 shares during the last quarter. Institutional investors and hedge funds own 73.88% of the company’s stock.

Northwest Natural Trading Up 0.8 %

NYSE:NWN opened at $39.11 on Friday. The firm’s fifty day moving average is $41.60 and its 200-day moving average is $44.38. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.68 and a current ratio of 0.80. Northwest Natural Holding has a 52 week low of $37.79 and a 52 week high of $52.39. The firm has a market cap of $1.41 billion, a P/E ratio of 13.77, a P/E/G ratio of 3.86 and a beta of 0.60.

Northwest Natural (NYSE:NWN – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.10. Northwest Natural had a return on equity of 8.47% and a net margin of 8.49%. The firm had revenue of $237.86 million during the quarter, compared to the consensus estimate of $211.65 million. Equities analysts expect that Northwest Natural Holding will post 2.69 earnings per share for the current year.

Northwest Natural Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were issued a $0.485 dividend. The ex-dividend date was Friday, July 28th. This represents a $1.94 dividend on an annualized basis and a yield of 4.96%. Northwest Natural’s payout ratio is currently 68.31%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wells Fargo & Company lowered their price objective on Northwest Natural from $50.00 to $46.00 and set an “equal weight” rating for the company in a research note on Friday, August 4th. Guggenheim dropped their price target on shares of Northwest Natural from $45.00 to $42.00 in a research note on Friday, July 7th. Royal Bank of Canada reduced their price objective on shares of Northwest Natural from $52.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Stifel Nicolaus raised their target price on Northwest Natural from $57.00 to $59.00 in a research report on Wednesday, May 17th. Finally, TheStreet lowered Northwest Natural from a “b-” rating to a “c+” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $48.00.

View Our Latest Stock Report on NWN

Northwest Natural Profile

(Free Report)

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 operates Mist gas storage facility contracted to other utilities and third-party marketers; offers natural gas asset management services; and operates an appliance retail center.

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Institutional Ownership by Quarter for Northwest Natural (NYSE:NWN)

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