Northwest Natural Holding (NYSE:NWN) Holdings Cut by Corebridge Financial Inc.

Corebridge Financial Inc. cut its stake in shares of Northwest Natural Holding (NYSE:NWN) by 5.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,588 shares of the utilities provider’s stock after selling 1,209 shares during the quarter. Corebridge Financial Inc. owned approximately 0.05% of Northwest Natural worth $814,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Capital Advisors Ltd. LLC grew its stake in Northwest Natural by 11,111.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,009 shares of the utilities provider’s stock worth $40,000 after buying an additional 1,000 shares during the last quarter. LRI Investments LLC grew its position in shares of Northwest Natural by 692.4% during the third quarter. LRI Investments LLC now owns 1,046 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 914 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Northwest Natural in the 3rd quarter worth about $61,000. Point72 DIFC Ltd bought a new stake in Northwest Natural in the 3rd quarter valued at about $78,000. Finally, KBC Group NV boosted its stake in Northwest Natural by 74.1% during the 4th quarter. KBC Group NV now owns 2,054 shares of the utilities provider’s stock valued at $81,000 after purchasing an additional 874 shares during the period. 75.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Northwest Natural news, CEO David Hugo Anderson sold 7,500 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $40.97, for a total transaction of $307,275.00. Following the sale, the chief executive officer now directly owns 130,242 shares of the company’s stock, valued at $5,336,014.74. The trade was a 5.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David A. Weber sold 2,183 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $42.46, for a total value of $92,690.18. Following the completion of the sale, the vice president now directly owns 255 shares of the company’s stock, valued at approximately $10,827.30. This represents a 89.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,192 shares of company stock worth $1,042,268. Corporate insiders own 0.84% of the company’s stock.

Northwest Natural Price Performance

Shares of NYSE:NWN opened at $41.08 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.53 and a debt-to-equity ratio of 1.15. The firm’s 50 day moving average is $41.30 and its two-hundred day moving average is $40.78. The firm has a market capitalization of $1.65 billion, a P/E ratio of 19.38 and a beta of 0.59. Northwest Natural Holding has a 52 week low of $34.82 and a 52 week high of $44.25.

Northwest Natural (NYSE:NWN) last posted its quarterly earnings data on Friday, February 28th. The utilities provider reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.01). The company had revenue of $370.90 million during the quarter, compared to analyst estimates of $395.05 million. Northwest Natural had a return on equity of 5.89% and a net margin of 6.90%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 EPS. Analysts anticipate that Northwest Natural Holding will post 2.33 earnings per share for the current year.

Northwest Natural Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend was Friday, January 31st. Northwest Natural’s payout ratio is 96.55%.

Northwest Natural Company 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.