Northwest Natural Holding (NYSE:NWN – Get Free Report)’s share price traded up 4% on Tuesday . The stock traded as high as $37.97 and last traded at $37.96. 61,078 shares changed hands during trading, a decline of 76% from the average session volume of 253,744 shares. The stock had previously closed at $36.49.
Wall Street Analyst Weigh In
Separately, Janney Montgomery Scott initiated coverage on Northwest Natural in a research note on Wednesday, January 31st. They set a “neutral” rating and a $39.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, Northwest Natural presently has an average rating of “Hold” and a consensus target price of $45.20.
Northwest Natural Price Performance
The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 3.53 and a beta of 0.58. The business has a fifty day moving average price of $38.03 and a 200 day moving average price of $38.48. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.86 and a quick ratio of 0.70.
Northwest Natural Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Wednesday, January 31st were issued a dividend of $0.488 per share. This represents a $1.95 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date of this dividend was Tuesday, January 30th. Northwest Natural’s payout ratio is currently 70.91%.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC increased its position in shares of Northwest Natural by 372.0% in the second quarter. Millennium Management LLC now owns 445,329 shares of the utilities provider’s stock worth $23,647,000 after acquiring an additional 350,988 shares in the last quarter. Norges Bank purchased a new position in Northwest Natural during the 4th quarter worth approximately $15,541,000. Vanguard Group Inc. raised its holdings in shares of Northwest Natural by 7.7% during the first quarter. Vanguard Group Inc. now owns 3,878,324 shares of the utilities provider’s stock worth $200,586,000 after acquiring an additional 277,421 shares in the last quarter. Brandywine Global Investment Management LLC bought a new stake in shares of Northwest Natural during the 2nd quarter worth about $10,258,000. Finally, State Street Corp lifted its stake in shares of Northwest Natural by 16.9% in the first quarter. State Street Corp now owns 1,562,357 shares of the utilities provider’s stock worth $80,805,000 after buying an additional 226,118 shares during the last quarter. Institutional investors and hedge funds own 73.88% of the company’s stock.
About Northwest Natural
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.