Northwest Natural Gas (NYSE:NWN) Hits New 52-Week High – What’s Next?

Northwest Natural Gas Company (NYSE:NWN) hit a new 52-week high on Wednesday . The company traded as high as $50.90 and last traded at $50.1760, with a volume of 223998 shares. The stock had previously closed at $50.35.

Analyst Ratings Changes

NWN has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price objective on shares of Northwest Natural Gas from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Northwest Natural Gas in a research report on Thursday, January 22nd. Finally, BTIG Research reaffirmed a “buy” rating and set a $55.00 price objective on shares of Northwest Natural Gas in a research report on Friday, January 30th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $51.33.

Northwest Natural Gas Stock Up 0.9%

The company has a quick ratio of 0.43, a current ratio of 0.59 and a debt-to-equity ratio of 1.48. The company has a fifty day moving average price of $47.34 and a 200-day moving average price of $45.41. The stock has a market capitalization of $2.06 billion, a P/E ratio of 19.75 and a beta of 0.57.

Northwest Natural Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were issued a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a yield of 15.9%. The ex-dividend date was Friday, January 30th. This is a positive change from Northwest Natural Gas’s previous quarterly dividend of $0.49. Northwest Natural Gas’s dividend payout ratio (DPR) is 78.49%.

Hedge Funds Weigh In On Northwest Natural Gas

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC grew its stake in Northwest Natural Gas by 5.6% in the first quarter. AQR Capital Management LLC now owns 106,605 shares of the utilities provider’s stock valued at $4,554,000 after purchasing an additional 5,644 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Northwest Natural Gas by 17.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 164,729 shares of the utilities provider’s stock worth $7,037,000 after acquiring an additional 24,906 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Northwest Natural Gas by 650.9% during the first quarter. Jane Street Group LLC now owns 64,966 shares of the utilities provider’s stock worth $2,775,000 after acquiring an additional 56,314 shares during the last quarter. CWM LLC raised its position in shares of Northwest Natural Gas by 25.7% in the 2nd quarter. CWM LLC now owns 7,013 shares of the utilities provider’s stock valued at $279,000 after purchasing an additional 1,436 shares during the last quarter. Finally, First Citizens Bank & Trust Co. grew its position in Northwest Natural Gas by 206.7% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 15,489 shares of the utilities provider’s stock worth $615,000 after purchasing an additional 10,439 shares during the last quarter. 75.13% of the stock is owned by hedge funds and other institutional investors.

Northwest Natural Gas Company Profile

Northwest Natural Gas (NYSE: NWN), commonly known as NW Natural, is a publicly traded energy utility primarily engaged in the distribution of natural gas to residential, commercial and industrial customers. Headquartered in Portland, Oregon, the company operates an extensive pipeline network spanning thousands of miles across Oregon and southwest Washington. Its core business activities include gas procurement, system operation and maintenance, safety inspections and customer service support.

Dating back to the mid-19th century, Northwest Natural traces its origins to the Portland Gas Light Company, which first illuminated Portland streets with manufactured gas in 1859.