Code Waechter LLC Invests $964,000 in Northwest Natural Holding (NYSE:NWN)

Code Waechter LLC acquired a new position in Northwest Natural Holding (NYSE:NWN) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 23,627 shares of the utilities provider’s stock, valued at approximately $964,000. Northwest Natural accounts for 0.9% of Code Waechter LLC’s portfolio, making the stock its 27th biggest holding. Code Waechter LLC owned 0.06% of Northwest Natural as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Northwest Natural by 173.5% in the 2nd quarter. GAMMA Investing LLC now owns 796 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 505 shares during the period. EntryPoint Capital LLC bought a new stake in Northwest Natural in the first quarter valued at about $32,000. CWM LLC increased its position in Northwest Natural by 686.5% in the first quarter. CWM LLC now owns 1,046 shares of the utilities provider’s stock worth $39,000 after buying an additional 913 shares during the period. Quest Partners LLC increased its stake in shares of Northwest Natural by 12,044.4% during the second quarter. Quest Partners LLC now owns 1,093 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 1,084 shares during the period. Finally, Geneos Wealth Management Inc. bought a new stake in shares of Northwest Natural during the 1st quarter worth $48,000. 75.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on NWN. StockNews.com raised Northwest Natural from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Janney Montgomery Scott raised Northwest Natural from a “neutral” rating to a “buy” rating and upped their price target for the company from $36.00 to $43.00 in a research note on Monday, August 5th.

Northwest Natural Price Performance

NWN traded up $0.84 during trading on Friday, reaching $39.84. 147,962 shares of the company were exchanged, compared to its average volume of 286,381. Northwest Natural Holding has a 12-month low of $34.82 and a 12-month high of $41.20. The company has a quick ratio of 0.73, a current ratio of 0.97 and a debt-to-equity ratio of 1.17. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 17.47 and a beta of 0.57. The company’s 50-day moving average is $39.45 and its two-hundred day moving average is $38.03.

Northwest Natural (NYSE:NWN) last announced its earnings results on Friday, August 2nd. The utilities provider reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.06. Northwest Natural had a net margin of 7.18% and a return on equity of 6.31%. The firm had revenue of $211.70 million for the quarter, compared to analysts’ expectations of $231.99 million. During the same quarter in the previous year, the business posted $0.03 EPS. The company’s quarterly revenue was down 11.0% on a year-over-year basis. Research analysts forecast that Northwest Natural Holding will post 2.32 earnings per share for the current fiscal year.

Northwest Natural Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.92%. This is a boost from Northwest Natural’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, October 31st. Northwest Natural’s dividend payout ratio is presently 85.53%.

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.