Northwest Natural Holding (NYSE:NWN) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in Northwest Natural Holding (NYSE:NWNFree Report) by 0.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 534,842 shares of the utilities provider’s stock after selling 4,975 shares during the period. Bank of New York Mellon Corp owned 1.49% of Northwest Natural worth $25,437,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. grew its position in Northwest Natural by 8.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,581 shares of the utilities provider’s stock worth $289,000 after purchasing an additional 422 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Northwest Natural by 80.0% during the 1st quarter. JPMorgan Chase & Co. now owns 234,887 shares of the utilities provider’s stock worth $12,149,000 after acquiring an additional 104,423 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Northwest Natural by 20.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 6,526 shares of the utilities provider’s stock worth $338,000 after purchasing an additional 1,108 shares during the period. US Bancorp DE lifted its stake in Northwest Natural by 2.0% during the first quarter. US Bancorp DE now owns 11,286 shares of the utilities provider’s stock worth $584,000 after purchasing an additional 219 shares in the last quarter. Finally, Cetera Advisor Networks LLC purchased a new stake in Northwest Natural during the 1st quarter worth approximately $217,000. 73.12% of the stock is currently owned by institutional investors and hedge funds.

Northwest Natural Stock Performance

Northwest Natural stock opened at $39.80 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.80 and a quick ratio of 0.68. Northwest Natural Holding has a 12 month low of $39.54 and a 12 month high of $52.39. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 3.98 and a beta of 0.59. The stock’s 50-day moving average is $42.18 and its 200-day moving average is $44.93.

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

Northwest Natural Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 4.87%. The ex-dividend date of this dividend was Friday, July 28th. Northwest Natural’s dividend payout ratio (DPR) is presently 68.31%.

Analyst Ratings Changes

Several research analysts have commented on the stock. StockNews.com initiated coverage on shares of Northwest Natural in a report on Wednesday. They set a “sell” rating for the company. Wells Fargo & Company cut their price target on shares of Northwest Natural from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Friday, August 4th. Stifel Nicolaus boosted their target price on shares of Northwest Natural from $57.00 to $59.00 in a research report on Wednesday, May 17th. Maxim Group downgraded Northwest Natural from a “buy” rating to a “hold” rating in a research note on Friday, May 5th. Finally, Guggenheim cut their price objective on shares of Northwest Natural from $45.00 to $42.00 in a research report on Friday, July 7th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, Northwest Natural currently has a consensus rating of “Hold” and a consensus price target of $49.75.

Check Out Our Latest Analysis on NWN

About Northwest Natural

(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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