As of the second quarter of 2023, financial services firm Hennessy Advisors Inc. has revealed a reduction in its holdings in Northwest Natural Holding (NYSE:NWN) by 9.7%. The disclosure, made with the Securities & Exchange Commission, shows that Hennessy Advisors Inc. now owns 54,903 shares of the utilities provider’s stock, after selling 5,900 shares during the quarter. This amounts to approximately 0.15% ownership of Northwest Natural and corresponds to a value of $2,364,000 at the end of the quarter.
Northwest Natural recently released its quarterly earnings data on Thursday, August 3rd. For this period, the company reported earnings per share of $0.03, surpassing analysts’ estimates by $0.10 as they had expected a loss of ($0.07) per share. The firm generated revenue of $237.86 million during that time frame, outperforming analysts’ expectations which stood at $211.65 million.
Furthermore, Northwest Natural exhibited a return on equity (ROE) of 8.47% and a net margin of 8.49%. These figures depict the company’s profitability and efficiency in generating profits from shareholders’ investments.
Equity research analysts predict that Northwest Natural Holding will post earnings per share (EPS) amounting to $2.69 for this year.
To gain further insights into the recent performance and future prospects of Northwest Natural Holding, we recommend referring to our latest report on NWN available for your perusal.
*Please note that this article is purely fictional and does not represent real facts or events.*
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Hedge Funds Show Mixed Interest in Northwest Natural Holding Company (NWN) as Analysts Remain Cautious
Northwest Natural Holding Company (NWN) has recently caught the attention of several hedge funds, with some increasing their stakes while others have reduced theirs. Some notable investors include Avalon Trust Co, Belpointe Asset Management LLC, FMR LLC, Tower Research Capital LLC TRC, and Rockefeller Capital Management L.P. These institutional investors and hedge funds collectively own 73.88% of the company’s stock.
In the first quarter of this year, Avalon Trust Co acquired a new position in Northwest Natural worth approximately $32,000. Similarly, Belpointe Asset Management LLC increased its holdings by 185.7%, now owning 820 shares valued at $39,000. FMR LLC also boosted its stake by 23.8%, bringing its total ownership to 1,452 shares valued at $69,000.
Meanwhile, Tower Research Capital LLC TRC grew its holdings by 45.5% during the third quarter to reach 1,781 shares with a value of $78,000. Lastly, Rockefeller Capital Management L.P. increased its position by 40.7% during the fourth quarter, now holding 1,971 shares worth $93,000.
Northwest Natural Holding Company opened at $39.44 on Tuesday and has seen fluctuations in its stock price over recent months. With a fifty-day moving average of $41.03 and a two-hundred-day moving average of $43.74, the company’s stock showcases an uncertain pattern within the market.
The utility provider currently holds a market capitalization of $1.42 billion and exhibits key financial ratios that provide insight into its performance and stability as an investment opportunity: a price-to-earnings ratio (P/E) of 13.89 and a price/earnings-to-growth (PEG) ratio of 3.98.
Although these numbers may indicate positive prospects for Northwest Natural Holding Company, it is crucial to consider external factors such as its beta of 0.60, illustrating the stock’s volatility in relation to the broader market.
Furthermore, Northwest Natural recently declared a quarterly dividend, which was paid out on August 15th. Shareholders of record on July 31st were issued a dividend amounting to $0.485 per share. This equates to an annualized dividend of $1.94 and a yield of 4.92%. The ex-dividend date for this payment was July 28th. Currently, Northwest Natural’s dividend payout ratio stands at 68.31%.
Several research firms have provided their insights on NWN’s performance and projected value. Wells Fargo & Company reduced its price target from $50.00 to $46.00 while maintaining an “equal weight” rating on the stock in a recent research report.
StockNews.com initiated coverage on Northwest Natural, assigning it a “sell” rating. Royal Bank of Canada also lowered its price target from $52.00 to $45.00 and labeled the company as “sector perform.” Additionally, Guggenheim reduced its price target from $45.00 to $42.00.
Lastly, TheStreet downgraded Northwest Natural from a “b-” rating to a “c+” rating in another research note released recently.
Overall, with an average rating of “Hold” according to Bloomberg and consensus target price of $48.00, analysts seem cautious about Northwest Natural Holding Company’s future performance despite recent activity within the hedge fund community.
Investors interested in NWN would benefit from monitoring any updates that may affect the stock’s performance and consulting with financial advisors or experts whose expertise aligns with their investment goals before making any decisions based on these findings
