JPMorgan Chase & Co. Purchases 123,961 Shares of Northwest Natural Holding (NYSE:NWN)

JPMorgan Chase & Co. boosted its holdings in shares of Northwest Natural Holding (NYSE:NWN) by 47.6% during the 3rd quarter, Holdings Channel reports. The fund owned 384,324 shares of the utilities provider’s stock after buying an additional 123,961 shares during the period. JPMorgan Chase & Co.’s holdings in Northwest Natural were worth $15,688,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Asset Management One Co. Ltd. lifted its position in shares of Northwest Natural by 2.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 13,978 shares of the utilities provider’s stock worth $571,000 after purchasing an additional 309 shares during the period. Guardian Wealth Management Inc. raised its stake in Northwest Natural by 3.2% in the third quarter. Guardian Wealth Management Inc. now owns 12,401 shares of the utilities provider’s stock worth $506,000 after buying an additional 389 shares in the last quarter. Arizona State Retirement System lifted its holdings in Northwest Natural by 4.3% during the second quarter. Arizona State Retirement System now owns 10,547 shares of the utilities provider’s stock worth $381,000 after buying an additional 439 shares during the period. GAMMA Investing LLC lifted its holdings in Northwest Natural by 55.2% during the third quarter. GAMMA Investing LLC now owns 1,235 shares of the utilities provider’s stock worth $50,000 after buying an additional 439 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in Northwest Natural by 1.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 29,507 shares of the utilities provider’s stock valued at $1,204,000 after acquiring an additional 457 shares in the last quarter. Hedge funds and other institutional investors own 75.13% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus dropped their price objective on Northwest Natural from $45.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th.

Northwest Natural Trading Down 2.2 %

NYSE NWN opened at $38.31 on Friday. Northwest Natural Holding has a 52 week low of $34.82 and a 52 week high of $44.25. The company has a 50 day moving average price of $40.98 and a 200 day moving average price of $39.75. The company has a quick ratio of 0.53, a current ratio of 0.72 and a debt-to-equity ratio of 1.15. The firm has a market cap of $1.54 billion, a PE ratio of 18.07 and a beta of 0.62.

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

Insider Activity at Northwest Natural

In other Northwest Natural news, CEO David Hugo Anderson sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $39.78, for a total transaction of $298,350.00. Following the transaction, the chief executive officer now owns 144,298 shares in the company, valued at approximately $5,740,174.44. This represents a 4.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.84% of the stock is currently owned by corporate insiders.

Northwest Natural 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.