Ameriprise Financial Inc. Has $17.56 Million Holding in Northwest Natural Gas Co (NWN)

Ameriprise Financial Inc. Has $17.56 Million Holding in Northwest Natural Gas Co (NWN)

Ameriprise Financial Inc. boosted its stake in shares of Northwest Natural Gas Co (NYSE:NWN) by 31.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 297,119 shares of the utilities provider’s stock after buying an additional 71,679 shares during the period. Ameriprise Financial Inc.’s holdings in Northwest Natural Gas were worth $17,558,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of NWN. AMP Capital Investors Ltd raised its stake in Northwest Natural Gas by 2.7% in the third quarter. AMP Capital Investors Ltd now owns 22,906 shares of the utilities provider’s stock valued at $1,385,000 after buying an additional 600 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in Northwest Natural Gas during the third quarter worth $126,000. Robecosam AG increased its position in Northwest Natural Gas by 17.5% in the third quarter. Robecosam AG now owns 106,000 shares of the utilities provider’s stock worth $6,410,000 after buying an additional 15,800 shares in the last quarter. Verition Fund Management LLC bought a new position in Northwest Natural Gas during the third quarter worth $715,000. Finally, Russell Investments Group Ltd. bought a new position in Northwest Natural Gas during the fourth quarter worth $3,758,000. Hedge funds and other institutional investors own 59.63% of the company’s stock.

Northwest Natural Gas Co (NYSE:NWN) opened at 62.60 on Monday. Northwest Natural Gas Co has a 12-month low of $53.50 and a 12-month high of $66.17. The company has a 50-day moving average of $60.03 and a 200 day moving average of $59.27. The company has a market capitalization of $1.79 billion, a P/E ratio of 28.13 and a beta of 0.31.

Northwest Natural Gas (NYSE:NWN) last announced its earnings results on Monday, May 8th. The utilities provider reported $1.40 EPS for the quarter, missing the Zacks’ consensus estimate of $1.41 by $0.01. Northwest Natural Gas had a net margin of 8.96% and a return on equity of 7.87%. The business had revenue of $297.30 million for the quarter, compared to analysts’ expectations of $147.56 million. During the same period in the prior year, the company posted $1.40 earnings per share. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. Equities research analysts forecast that Northwest Natural Gas Co will post $2.17 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, April 28th were issued a dividend of $0.47 per share. The ex-dividend date was Wednesday, April 26th. This represents a $1.88 dividend on an annualized basis and a yield of 3.00%. Northwest Natural Gas’s dividend payout ratio is currently 85.84%.

Separately, Zacks Investment Research downgraded shares of Northwest Natural Gas from a “hold” rating to a “sell” rating in a research report on Thursday, March 2nd.

In other Northwest Natural Gas news, CEO David A. Weber sold 575 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $57.49, for a total transaction of $33,056.75. Following the completion of the sale, the chief executive officer now directly owns 26 shares of the company’s stock, valued at $1,494.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Lea Anne Doolittle sold 3,200 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $58.00, for a total transaction of $185,600.00. Following the sale, the insider now directly owns 1,930 shares of the company’s stock, valued at $111,940. The disclosure for this sale can be found here. 2.07% of the stock is currently owned by corporate insiders.

About Northwest Natural Gas

Northwest Natural Gas Company (NW Natural) is engaged in the distribution of natural gas. The Company’s segments include Local Gas Distribution, Gas Storage and other. The Company maintains operations in Oregon, Washington and California and conducts businesses through NW Natural and its subsidiaries.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NWN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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