Janney Montgomery Scott LLC Cuts Stake in Northwest Natural Gas Company $NWN

Janney Montgomery Scott LLC reduced its holdings in shares of Northwest Natural Gas Company (NYSE:NWN) by 33.7% during the first quarter, Holdings Channel reports. The fund owned 44,189 shares of the utilities provider’s stock after selling 22,458 shares during the period. Janney Montgomery Scott LLC’s holdings in Northwest Natural Gas were worth $2,352,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. AQR Capital Management LLC lifted its holdings in shares of Northwest Natural Gas by 5.6% in the 1st quarter. AQR Capital Management LLC now owns 106,605 shares of the utilities provider’s stock worth $4,554,000 after acquiring an additional 5,644 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Northwest Natural Gas by 17.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 164,729 shares of the utilities provider’s stock valued at $7,037,000 after purchasing an additional 24,906 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Northwest Natural Gas by 650.9% during the 1st quarter. Jane Street Group LLC now owns 64,966 shares of the utilities provider’s stock valued at $2,775,000 after purchasing an additional 56,314 shares during the last quarter. Cetera Investment Advisers raised its position in Northwest Natural Gas by 28.5% in the 2nd quarter. Cetera Investment Advisers now owns 6,446 shares of the utilities provider’s stock worth $256,000 after purchasing an additional 1,428 shares during the period. Finally, Norges Bank purchased a new position in Northwest Natural Gas in the 2nd quarter worth $1,431,000. 75.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on NWN shares. Wells Fargo & Company initiated coverage on shares of Northwest Natural Gas in a research note on Monday, May 11th. They issued an “underweight” rating and a $50.00 price target for the company. Freedom Capital upgraded Northwest Natural Gas from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Northwest Natural Gas in a research note on Friday, May 29th. Finally, TD Cowen began coverage on Northwest Natural Gas in a research note on Thursday, April 16th. They issued a “hold” rating and a $58.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Northwest Natural Gas has an average rating of “Moderate Buy” and an average price target of $55.25.

Northwest Natural Gas Stock Down 0.2%

Shares of NYSE:NWN opened at $49.72 on Thursday. The stock’s 50-day moving average is $49.83 and its 200 day moving average is $50.07. The company has a market cap of $2.09 billion, a PE ratio of 16.97 and a beta of 0.43. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.80 and a quick ratio of 0.62. Northwest Natural Gas Company has a 1 year low of $39.29 and a 1 year high of $55.99.

Northwest Natural Gas (NYSE:NWN) last released its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.40 by ($0.07). The business had revenue of $490.40 million during the quarter, compared to analysts’ expectations of $538.57 million. Northwest Natural Gas had a return on equity of 8.46% and a net margin of 9.56%.The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the business posted $2.28 EPS. Sell-side analysts anticipate that Northwest Natural Gas Company will post 3.05 EPS for the current year.

Northwest Natural Gas 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.