BlackRock Inc. Decreases Holdings in Northwest Natural Holding Co (NYSE:NWN)

BlackRock Inc. trimmed its holdings in shares of Northwest Natural Holding Co (NYSE:NWN) by 0.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 4,292,950 shares of the utilities provider’s stock after selling 35,157 shares during the quarter. BlackRock Inc. owned about 0.15% of Northwest Natural worth $281,748,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Arizona State Retirement System lifted its stake in Northwest Natural by 0.4% during the 1st quarter. Arizona State Retirement System now owns 44,576 shares of the utilities provider’s stock valued at $2,926,000 after acquiring an additional 157 shares during the period. Independent Advisor Alliance lifted its stake in Northwest Natural by 1.8% during the 1st quarter. Independent Advisor Alliance now owns 10,608 shares of the utilities provider’s stock valued at $696,000 after acquiring an additional 185 shares during the period. Cetera Advisor Networks LLC lifted its stake in Northwest Natural by 5.8% during the 1st quarter. Cetera Advisor Networks LLC now owns 3,586 shares of the utilities provider’s stock valued at $236,000 after acquiring an additional 197 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in Northwest Natural by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 11,172 shares of the utilities provider’s stock valued at $733,000 after acquiring an additional 202 shares during the period. Finally, Piedmont Investment Advisors Inc. lifted its stake in Northwest Natural by 3.4% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 6,861 shares of the utilities provider’s stock valued at $415,000 after acquiring an additional 228 shares during the period. Institutional investors and hedge funds own 69.06% of the company’s stock.

NWN has been the subject of several research reports. TheStreet upgraded shares of Northwest Natural from a “c” rating to a “b-” rating in a research note on Friday, March 1st. Maxim Group restated a “buy” rating and set a $72.00 price objective on shares of Northwest Natural in a research note on Thursday, June 6th. Zacks Investment Research upgraded shares of Northwest Natural from a “sell” rating to a “hold” rating and set a $75.00 price objective for the company in a research note on Thursday, May 2nd. Finally, Wells Fargo & Co lifted their price objective on shares of Northwest Natural from $65.00 to $67.00 and gave the company a “market perform” rating in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $65.75.

NWN opened at $68.78 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 0.80. Northwest Natural Holding Co has a 1 year low of $57.20 and a 1 year high of $71.81. The firm has a market capitalization of $1.99 billion, a P/E ratio of 29.52, a PEG ratio of 6.46 and a beta of 0.35.

Northwest Natural (NYSE:NWN) last posted its earnings results on Tuesday, May 7th. The utilities provider reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.28. Northwest Natural had a net margin of 9.10% and a return on equity of 9.86%. The firm had revenue of $285.30 million during the quarter, compared to analysts’ expectations of $250.06 million. During the same period in the previous year, the business posted $1.39 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts forecast that Northwest Natural Holding Co will post 2.37 earnings per share for the current fiscal year.

In related news, insider Lori L. Russell sold 3,500 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $64.59, for a total value of $226,065.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tod R. Hamachek sold 600 shares of the business’s stock in a transaction on Friday, March 29th. The stock was sold at an average price of $65.21, for a total transaction of $39,126.00. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

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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 Oregon and Southwest Washington. It is also involved in the gas storage activities, water businesses, and other investments and activities.

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Institutional Ownership by Quarter for Northwest Natural (NYSE:NWN)

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