On September 14, 2023, it was reported that Empower Advisory Group LLC had acquired a new position in shares of Northwest Natural Holding (NYSE:NWN) during the first quarter. This information came from the company’s most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 266,946 shares of the utilities provider’s stock, which were valued at approximately $12,541,000. As of its most recent SEC filing, Empower Advisory Group LLC owned around 0.74% of Northwest Natural.
In addition to this acquisition, Northwest Natural recently announced a quarterly dividend that was paid on August 15th. Shareholders who were listed on record as of July 31st received a dividend payment of $0.485 per share. The ex-dividend date for this payment was July 28th. At an annualized rate, this represents a dividend payout of $1.94 and a yield of 4.83%. Currently, Northwest Natural has a dividend payout ratio of 68.31%.
Northwest Natural Holding is an energy utility company that specializes in natural gas distribution and storage services in the Pacific Northwest region of the United States. With operations dating back to over a century ago, the company has established itself as a reliable provider of essential energy services to residential, commercial, and industrial customers.
This recent acquisition by Empower Advisory Group LLC showcases their confidence in Northwest Natural’s growth potential and long-term stability in the utilities industry. As an institutional investor with significant holdings in various companies, their decision to invest in Northwest Natural signifies trust in the company’s financial performance and strategic direction.
The quarterly dividend payment also solidifies Northwest Natural as an attractive investment option for income-seeking investors. With a generous annualized yield and consistent dividend payouts demonstrated by their reasonable payout ratio, shareholders can rely on regular income from their investments.
Overall, Empower Advisory Group LLC’s acquisition of a new position in Northwest Natural reflects positive sentiment towards the company’s prospects and financial standing. It is an endorsement of Northwest Natural’s ability to deliver value to its shareholders through both capital appreciation and stable dividend payments. As the company continues to navigate the dynamic energy industry, investors can keep a close watch on its performance and potential future developments.
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Shift in Institutional Holdings and Mixed Reviews: Analyzing the Potential for Growth in Northwest Natural (NYSE:NWN)
In recent months, there has been a notable shift in the holdings of institutional investors and hedge funds regarding Northwest Natural (NYSE:NWN). Envestnet Asset Management Inc. increased its position in NWN shares by 8.2% during the first quarter, now owning 5,581 shares worth $289,000. Furthermore, JPMorgan Chase & Co. raised its position by a staggering 80%, now possessing 234,887 shares valued at $12,149,000.
Raymond James Financial Services Advisors Inc. also saw an increase in their NWN holdings by 20.5% during the first quarter and Bank of New York Mellon Corp followed suit with a 1.5% increase in their own holdings. US Bancorp DE rounded out the list of institutional investors with a modest increase of 2%.
It is worth mentioning that these institutional investors now own approximately 73.88% of Northwest Natural’s stock, indicating a significant level of confidence in the company’s future prospects.
Several research firms have provided their analysis on Northwest Natural’s performance as well. TheStreet downgraded NWN from a “b-” rating to a “c+” rating while Royal Bank of Canada lowered their target price from $52.00 to $45.00 and gave the stock a “sector perform” rating.
Guggenheim also reduced their target price to $42.00 and Wells Fargo & Company decreased theirs to $46.00 while maintaining an “equal weight” rating for the company.
In terms of the consensus rating compiled by Bloomberg.com, Northwest Natural currently holds a “Hold” rating with an average price target of $48.00.
Shares of NWN were trading at $40.16 on September 14th with a market capitalizationof around $1.45 billion.The stock has demonstrated volatility over the past year with a high of $52.39and lowof$37.79. The stock’s price-to-earnings ratio stands at 14.14, indicating a relatively low valuation.
Northwest Natural recently released its earnings results for the quarter ending on August 3rd, reporting earnings per share (EPS) of $0.03. This figure exceeded the consensus estimate of ($0.07) by $0.10, highlighting the company’s ability to outperform expectations.
With a return on equity of 8.47% and a net margin of 8.49%, Northwest Natural showcased its profitability in the recent quarter. The company generated $237.86 million in revenue during this period, surpassing analysts’ expectations of $211.65 million.
Equity research analysts project that Northwest Natural Holding will achieve earnings per share of 2.69 for the current fiscal year.
In conclusion, Northwest Natural has seen adjustments in its institutional holdings over recent months, with several notable investors increasing their positions in the utilities provider’s stock.The company’s performance has received mixed reviews from research firms, resulting in a Hold” consensus rating.Investors should analyze these factors along with financial indicators such as market capitalization and price-to-earnings ratio to make informed decisions about NWN shares’ potential for future growth.