Pictet Asset Management SA Invests $1.46 Million in Northwest Natural Holding (NYSE:NWN)

Pictet Asset Management SA purchased a new stake in shares of Northwest Natural Holding (NYSE:NWNGet Rating) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 27,497 shares of the utilities provider’s stock, valued at approximately $1,460,000. Pictet Asset Management SA owned about 0.08% of Northwest Natural at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. KBC Group NV bought a new position in Northwest Natural during the 1st quarter valued at about $97,000. Nisa Investment Advisors LLC grew its holdings in Northwest Natural by 28.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 9,380 shares of the utilities provider’s stock valued at $485,000 after purchasing an additional 2,080 shares during the last quarter. Martingale Asset Management L P grew its holdings in Northwest Natural by 1.9% during the 1st quarter. Martingale Asset Management L P now owns 21,159 shares of the utilities provider’s stock valued at $1,096,000 after purchasing an additional 400 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in Northwest Natural during the 1st quarter valued at about $264,000. Finally, American Century Companies Inc. bought a new position in Northwest Natural during the 1st quarter valued at about $15,340,000. 76.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on NWN shares. Guggenheim cut their price target on shares of Northwest Natural from $49.00 to $40.00 in a report on Monday, October 24th. Wells Fargo & Company dropped their target price on shares of Northwest Natural from $55.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 19th. Finally, StockNews.com upgraded shares of Northwest Natural from a “sell” rating to a “hold” rating in a research note on Tuesday. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, Northwest Natural currently has a consensus rating of “Hold” and an average target price of $50.60.

Northwest Natural Price Performance

Shares of NWN stock opened at $49.74 on Wednesday. The company’s 50-day simple moving average is $46.36 and its two-hundred day simple moving average is $50.06. Northwest Natural Holding has a one year low of $42.37 and a one year high of $57.63. The company has a market capitalization of $1.75 billion, a P/E ratio of 19.13, a P/E/G ratio of 4.45 and a beta of 0.55. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.94 and a quick ratio of 0.75.

Northwest Natural Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st were given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend was Friday, October 28th. This is a boost from Northwest Natural’s previous quarterly dividend of $0.48. Northwest Natural’s dividend payout ratio is presently 74.62%.

Northwest Natural Company Profile

(Get Rating)

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 also operates 5.7 billion cubic feet of the 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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