Franklin Resources Inc. Sells 3,890 Shares of Northwest Natural Holding (NYSE:NWN)

Franklin Resources Inc. lowered its holdings in Northwest Natural Holding (NYSE:NWN) by 12.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,265 shares of the utilities provider’s stock after selling 3,890 shares during the quarter. Franklin Resources Inc.’s holdings in Northwest Natural were worth $1,097,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of NWN. Thompson Siegel & Walmsley LLC acquired a new position in shares of Northwest Natural during the third quarter valued at about $12,250,000. Glenmede Trust Co. NA acquired a new position in Northwest Natural during the 3rd quarter valued at about $7,390,000. Foundry Partners LLC bought a new stake in Northwest Natural during the 3rd quarter worth approximately $5,068,000. Renaissance Technologies LLC raised its stake in shares of Northwest Natural by 406.0% in the second quarter. Renaissance Technologies LLC now owns 144,198 shares of the utilities provider’s stock worth $5,207,000 after purchasing an additional 115,698 shares during the last quarter. Finally, Brandes Investment Partners LP lifted its holdings in shares of Northwest Natural by 1,040.1% in the second quarter. Brandes Investment Partners LP now owns 68,977 shares of the utilities provider’s stock valued at $2,467,000 after purchasing an additional 62,927 shares in the last quarter. Institutional investors own 75.13% of the company’s stock.

Northwest Natural Stock Down 0.7 %

Northwest Natural stock opened at $39.48 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.53 and a current ratio of 0.72. The stock has a market cap of $1.58 billion, a PE ratio of 18.62 and a beta of 0.61. Northwest Natural Holding has a fifty-two week low of $34.82 and a fifty-two week high of $44.25. The firm’s 50-day simple moving average is $41.14 and its 200 day simple moving average is $39.51.

Northwest Natural (NYSE:NWN) last released its earnings results on Tuesday, November 12th. The utilities provider reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.08. The company had revenue of $136.90 million during the quarter, compared to analyst estimates of $132.47 million. Northwest Natural had a return on equity of 5.89% and a net margin of 6.90%. Northwest Natural’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.65) earnings per share. Research analysts predict that Northwest Natural Holding will post 2.33 EPS for the current fiscal year.

Northwest Natural Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.96%. This is a boost from Northwest Natural’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Thursday, October 31st. Northwest Natural’s payout ratio is presently 92.45%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus decreased their price target on Northwest Natural from $45.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, November 14th.

Insider Buying and Selling

In other Northwest Natural news, CEO David Hugo Anderson sold 7,500 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $39.78, for a total value of $298,350.00. Following the transaction, the chief executive officer now directly owns 144,298 shares in the company, valued at $5,740,174.44. The trade was a 4.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.84% of the stock is owned by insiders.

About Northwest Natural

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.