Federated Hermes Inc. Reduces Stake in Northwest Natural Holding (NYSE:NWN)

Federated Hermes Inc. reduced its stake in shares of Northwest Natural Holding (NYSE:NWN) by 16.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,715 shares of the utilities provider’s stock after selling 347 shares during the quarter. Federated Hermes Inc.’s holdings in Northwest Natural were worth $67,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NWN. JGP Wealth Management LLC increased its position in shares of Northwest Natural by 4.5% during the 4th quarter. JGP Wealth Management LLC now owns 6,009 shares of the utilities provider’s stock valued at $234,000 after purchasing an additional 260 shares during the last quarter. Magellan Asset Management Ltd increased its position in Northwest Natural by 1.3% during the third quarter. Magellan Asset Management Ltd now owns 22,787 shares of the utilities provider’s stock valued at $870,000 after acquiring an additional 282 shares during the last quarter. Perigon Wealth Management LLC raised its stake in shares of Northwest Natural by 5.3% in the third quarter. Perigon Wealth Management LLC now owns 5,775 shares of the utilities provider’s stock valued at $220,000 after acquiring an additional 292 shares during the period. Swiss National Bank lifted its holdings in shares of Northwest Natural by 1.0% in the 3rd quarter. Swiss National Bank now owns 79,100 shares of the utilities provider’s stock worth $3,018,000 after acquiring an additional 800 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Northwest Natural by 4.7% during the 3rd quarter. Raymond James & Associates now owns 22,512 shares of the utilities provider’s stock worth $859,000 after purchasing an additional 1,004 shares during the period. 75.13% of the stock is owned by institutional investors.

Northwest Natural Trading Down 2.0 %

NWN stock opened at $37.87 on Tuesday. The company has a market capitalization of $1.44 billion, a PE ratio of 14.57 and a beta of 0.54. The firm’s 50-day moving average is $37.05 and its 200 day moving average is $37.51. Northwest Natural Holding has a 12 month low of $34.95 and a 12 month high of $47.29. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.70.

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 the consensus estimate of $1.31 by ($0.10). The firm had revenue of $355.71 million during the quarter, compared to the consensus estimate of $368.78 million. Northwest Natural had a return on equity of 7.52% and a net margin of 7.84%. During the same period last year, the company earned $1.36 EPS. On average, research analysts anticipate that Northwest Natural Holding will post 2.27 EPS for the current year.

Northwest Natural Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a $0.488 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.95 annualized dividend and a dividend yield of 5.15%. Northwest Natural’s payout ratio is currently 75.00%.

Wall Street Analysts Forecast Growth

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

Northwest Natural 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.