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

JPMorgan Chase & Co. grew its holdings in Northwest Natural Holding (NYSE:NWN) by 47.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 384,324 shares of the utilities provider’s stock after buying an additional 123,961 shares during the period. JPMorgan Chase & Co. owned approximately 0.96% of Northwest Natural worth $15,688,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new position in Northwest Natural in the third quarter worth about $34,000. LRI Investments LLC lifted its stake in shares of Northwest Natural by 692.4% in the 3rd quarter. LRI Investments LLC now owns 1,046 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 914 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Northwest Natural by 12,044.4% in the 2nd quarter. Quest Partners LLC now owns 1,093 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 1,084 shares during the period. GAMMA Investing LLC increased its position in shares of Northwest Natural by 55.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,235 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 439 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Northwest Natural during the 3rd quarter valued at $61,000. 75.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, CEO David Hugo Anderson sold 7,500 shares of Northwest Natural 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 completion of the sale, the chief executive officer now owns 144,298 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this link. Insiders own 0.84% of the company’s stock.

Northwest Natural Stock Performance

Northwest Natural stock opened at $38.31 on Friday. Northwest Natural Holding has a 1-year low of $34.82 and a 1-year high of $44.25. The company’s 50-day moving average is $40.98 and its 200 day moving average is $39.75. The firm has a market capitalization of $1.54 billion, a P/E ratio of 18.07 and a beta of 0.62. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.72 and a quick ratio of 0.53.

Northwest Natural (NYSE:NWN) last issued its quarterly earnings results on Tuesday, November 12th. The utilities provider reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.08. The firm 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% compared to the same quarter last year. During the same period last year, the company earned ($0.65) EPS. Research analysts forecast that Northwest Natural Holding will post 2.33 EPS for the current year.

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.