Northwest Natural Gas (NYSE:NWN) Shares Pass Above 200-Day Moving Average – Time to Sell?

Northwest Natural Gas Company (NYSE:NWN) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $45.02 and traded as high as $48.62. Northwest Natural Gas shares last traded at $48.35, with a volume of 152,923 shares.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NWN. Stifel Nicolaus lifted their target price on shares of Northwest Natural Gas from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Northwest Natural Gas in a research note on Thursday, January 22nd. Finally, BTIG Research reiterated a “buy” rating and set a $55.00 price objective on shares of Northwest Natural Gas in a research report on Friday, January 30th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $51.33.

Northwest Natural Gas Stock Up 1.4%

The company has a quick ratio of 0.43, a current ratio of 0.59 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $2.01 billion, a PE ratio of 19.26 and a beta of 0.57. The business’s 50-day moving average price is $46.89 and its 200-day moving average price is $45.02.

Northwest Natural Gas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be paid a dividend of $1.97 per share. This is an increase from Northwest Natural Gas’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, January 30th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 16.3%. Northwest Natural Gas’s dividend payout ratio (DPR) is 78.49%.

Insider Buying and Selling at Northwest Natural Gas

In related news, Director David Hugo Anderson sold 7,468 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $47.95, for a total transaction of $358,090.60. Following the completion of the sale, the director directly owned 36,954 shares in the company, valued at approximately $1,771,944.30. This trade represents a 16.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd bought a new stake in Northwest Natural Gas in the third quarter worth $26,000. EverSource Wealth Advisors LLC raised its holdings in Northwest Natural Gas by 77.4% during the second quarter. EverSource Wealth Advisors LLC now owns 807 shares of the utilities provider’s stock valued at $32,000 after buying an additional 352 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Northwest Natural Gas by 104.3% in the third quarter. Larson Financial Group LLC now owns 711 shares of the utilities provider’s stock worth $32,000 after buying an additional 363 shares during the last quarter. Torren Management LLC bought a new stake in shares of Northwest Natural Gas during the 4th quarter worth about $41,000. Finally, Hantz Financial Services Inc. increased its holdings in shares of Northwest Natural Gas by 44.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,143 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 351 shares during the last quarter. Institutional investors own 75.13% of the company’s stock.

About Northwest Natural Gas

Northwest Natural Gas (NYSE: NWN), commonly known as NW Natural, is a publicly traded energy utility primarily engaged in the distribution of natural gas to residential, commercial and industrial customers. Headquartered in Portland, Oregon, the company operates an extensive pipeline network spanning thousands of miles across Oregon and southwest Washington. Its core business activities include gas procurement, system operation and maintenance, safety inspections and customer service support.

Dating back to the mid-19th century, Northwest Natural traces its origins to the Portland Gas Light Company, which first illuminated Portland streets with manufactured gas in 1859.