Allspring Global Investments Holdings LLC Raises Position in Northwest Natural Holding (NYSE:NWN)

Allspring Global Investments Holdings LLC grew its position in shares of Northwest Natural Holding (NYSE:NWN) by 1.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 29,507 shares of the utilities provider’s stock after acquiring an additional 457 shares during the period. Allspring Global Investments Holdings LLC owned about 0.08% of Northwest Natural worth $1,204,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NWN. Inspire Advisors LLC raised its holdings in Northwest Natural by 8.7% in the third quarter. Inspire Advisors LLC now owns 41,917 shares of the utilities provider’s stock worth $1,711,000 after purchasing an additional 3,351 shares in the last quarter. Creative Planning bought a new position in shares of Northwest Natural in the 3rd quarter worth about $211,000. Code Waechter LLC purchased a new position in Northwest Natural during the 3rd quarter valued at about $964,000. CWM LLC boosted its stake in Northwest Natural by 50.7% during the third quarter. CWM LLC now owns 5,633 shares of the utilities provider’s stock worth $230,000 after acquiring an additional 1,895 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Northwest Natural by 55.2% in the third quarter. GAMMA Investing LLC now owns 1,235 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 439 shares during the period. Institutional investors own 75.13% of the company’s stock.

Analyst Upgrades and Downgrades

NWN has been the topic of a number of analyst reports. Janney Montgomery Scott raised 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 report 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 Trading Down 2.7 %

NYSE NWN opened at $38.93 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. The stock has a market cap of $1.51 billion, a PE ratio of 17.86 and a beta of 0.57. The company’s 50-day moving average price is $39.97 and its 200-day moving average price is $38.40. Northwest Natural Holding has a 12 month low of $34.82 and a 12 month high of $41.25.

Northwest Natural (NYSE:NWN) last released its earnings results on Friday, August 2nd. The utilities provider reported ($0.07) EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $231.99 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company’s revenue was down 11.0% compared to the same quarter last year. Equities research analysts forecast that Northwest Natural Holding will post 2.32 earnings per share for the current year.

Northwest Natural Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a $0.49 dividend. This is a boost from Northwest Natural’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, October 31st. This represents a $1.96 dividend on an annualized basis and a yield of 5.03%. Northwest Natural’s dividend payout ratio is presently 89.91%.

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.