Raymond James & Associates Has $839,000 Stake in Northwest Natural Holding (NYSE:NWN)

Raymond James & Associates lowered its position in Northwest Natural Holding (NYSE:NWN) by 4.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 21,551 shares of the utilities provider’s stock after selling 961 shares during the quarter. Raymond James & Associates’ holdings in Northwest Natural were worth $839,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Ronald Blue Trust Inc. bought a new position in Northwest Natural in the 3rd quarter valued at $31,000. Spirit of America Management Corp NY raised its holdings in shares of Northwest Natural by 52.0% in the third quarter. Spirit of America Management Corp NY now owns 1,900 shares of the utilities provider’s stock valued at $73,000 after buying an additional 650 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Northwest Natural by 125.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 5,113 shares of the utilities provider’s stock worth $195,000 after acquiring an additional 2,842 shares during the last quarter. Perigon Wealth Management LLC grew its holdings in Northwest Natural by 5.3% during the 3rd quarter. Perigon Wealth Management LLC now owns 5,775 shares of the utilities provider’s stock worth $220,000 after acquiring an additional 292 shares during the last quarter. Finally, JGP Wealth Management LLC increased its position in Northwest Natural by 4.5% in the 4th quarter. JGP Wealth Management LLC now owns 6,009 shares of the utilities provider’s stock valued at $234,000 after acquiring an additional 260 shares in the last quarter. 75.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott began coverage on shares of Northwest Natural in a research note on Wednesday, January 31st. They set a “neutral” rating and a $39.00 price target on the stock. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, Northwest Natural has an average rating of “Hold” and a consensus price target of $45.20.

Northwest Natural Stock Performance

Northwest Natural stock opened at $38.00 on Tuesday. Northwest Natural Holding has a 1 year low of $34.95 and a 1 year high of $48.37. The company’s 50-day moving average is $36.78 and its two-hundred day moving average is $37.58. The company has a current ratio of 0.86, a quick ratio of 0.70 and a debt-to-equity ratio of 1.11. The company has a market cap of $1.45 billion, a PE ratio of 14.62 and a beta of 0.57.

Northwest Natural (NYSE:NWN) last announced its quarterly earnings data on Friday, February 23rd. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.10). The business had revenue of $355.71 million during the quarter, compared to the consensus estimate of $368.78 million. Northwest Natural had a net margin of 7.84% and a return on equity of 7.52%. During the same period in the previous year, the business posted $1.36 earnings per share. Equities analysts anticipate that Northwest Natural Holding will post 2.27 earnings per share for the current year.

Northwest Natural Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a $0.488 dividend. This represents a $1.95 annualized dividend and a yield of 5.14%. The ex-dividend date is Monday, April 29th. Northwest Natural’s payout ratio is 75.00%.

Northwest Natural Company Profile

Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, and industrial customers in the United States. The company operates a mist gas storage facility contracted to other utilities, third-party marketers, and electric generators; offers natural gas asset management services; and operates an appliance retail center.