Hsbc Holdings PLC Takes Position in Northwest Natural Holding (NYSE:NWN)

Hsbc Holdings PLC acquired a new position in shares of Northwest Natural Holding (NYSE:NWN) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,552 shares of the utilities provider’s stock, valued at approximately $235,000.

Several other large investors have also recently modified their holdings of NWN. Nordea Investment Management AB purchased a new position in Northwest Natural in the first quarter worth $2,619,000. Vanguard Group Inc. boosted its position in shares of Northwest Natural by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 4,421,601 shares of the utilities provider’s stock worth $164,572,000 after purchasing an additional 71,214 shares in the last quarter. WINTON GROUP Ltd purchased a new position in Northwest Natural during the 2nd quarter worth $2,031,000. Gabelli Funds LLC increased its position in Northwest Natural by 6.0% during the 1st quarter. Gabelli Funds LLC now owns 475,000 shares of the utilities provider’s stock valued at $17,680,000 after buying an additional 27,000 shares in the last quarter. Finally, Wedge Capital Management L L P NC raised its stake in Northwest Natural by 58.8% in the second quarter. Wedge Capital Management L L P NC now owns 65,116 shares of the utilities provider’s stock valued at $2,351,000 after buying an additional 24,110 shares during the last quarter. Institutional investors own 75.13% of the company’s stock.

Northwest Natural Stock Up 1.0 %

Northwest Natural stock opened at $39.52 on Friday. The business’s 50-day simple moving average is $39.54 and its two-hundred day simple moving average is $37.93. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.97. The company has a market cap of $1.50 billion, a PE ratio of 17.33 and a beta of 0.57. Northwest Natural Holding has a fifty-two week low of $34.82 and a fifty-two week high of $41.20.

Northwest Natural (NYSE:NWN) last issued 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 return on equity of 6.31% and a net margin of 7.18%. The firm had revenue of $211.70 million for the quarter, compared to analyst estimates of $231.99 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. Northwest Natural’s revenue for the quarter was down 11.0% on a year-over-year basis. Equities analysts anticipate that Northwest Natural Holding will post 2.32 EPS for the current year.

Northwest Natural Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were issued a dividend of $0.488 per share. The ex-dividend date was Wednesday, July 31st. This represents a $1.95 annualized dividend and a dividend yield of 4.94%. Northwest Natural’s dividend payout ratio (DPR) is presently 85.53%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NWN shares. Janney Montgomery Scott upgraded Northwest Natural from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $36.00 to $43.00 in a research note on Monday, August 5th. StockNews.com upgraded shares of Northwest Natural from a “sell” rating to a “hold” rating in a research note on Monday, August 5th.

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.