Rep. Earl Blumenauer Buys Northwest Natural Holding (NYSE:NWN) Shares

Representative Earl Blumenauer (D-Oregon) recently bought shares of Northwest Natural Holding (NYSE:NWN). In a filing disclosed on December 07th, the Representative disclosed that they had bought between $1,001 and $15,000 in Northwest Natural stock on November 15th.

Representative Earl Blumenauer also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of Ventas (NYSE:VTR) on 9/19/2024.

Northwest Natural Stock Performance

Shares of NWN opened at $41.76 on Tuesday. Northwest Natural Holding has a 12-month low of $34.82 and a 12-month high of $44.25. The stock has a market cap of $1.68 billion, a P/E ratio of 19.70 and a beta of 0.61. 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 company has a 50-day moving average of $40.97 and a two-hundred day moving average of $39.14.

Northwest Natural (NYSE:NWN) last issued its quarterly earnings data on Tuesday, November 12th. The utilities provider reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.08. Northwest Natural had a return on equity of 5.89% and a net margin of 6.90%. The firm had revenue of $136.90 million during the quarter, compared to the consensus estimate of $132.47 million. During the same period in the previous year, the firm posted ($0.65) EPS. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. As a group, research analysts predict that Northwest Natural Holding will post 2.33 EPS for the current fiscal year.

Northwest Natural Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.69%. This is a boost from Northwest Natural’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Thursday, October 31st. Northwest Natural’s dividend payout ratio is presently 92.45%.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus dropped their target price on Northwest Natural from $45.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, November 14th.

Institutional Investors Weigh In On Northwest Natural

A number of large investors have recently modified their holdings of the stock. State Street Corp grew its stake in Northwest Natural by 2.9% during the 3rd quarter. State Street Corp now owns 1,817,813 shares of the utilities provider’s stock valued at $74,203,000 after purchasing an additional 51,391 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Northwest Natural by 1.8% in the third quarter. Geode Capital Management LLC now owns 884,205 shares of the utilities provider’s stock worth $36,101,000 after buying an additional 15,289 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Northwest Natural by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 568,991 shares of the utilities provider’s stock valued at $23,226,000 after acquiring an additional 29,682 shares in the last quarter. Gabelli Funds LLC boosted its stake in Northwest Natural by 6.5% during the 2nd quarter. Gabelli Funds LLC now owns 506,000 shares of the utilities provider’s stock valued at $18,272,000 after acquiring an additional 31,000 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Northwest Natural by 3.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 471,939 shares of the utilities provider’s stock valued at $17,042,000 after acquiring an additional 15,523 shares during the last quarter. Institutional investors and hedge funds own 75.13% of the company’s stock.

About Representative BLUMENAUER

Earl Blumenauer (Democratic Party) is a member of the U.S. House, representing Oregon’s 3rd Congressional District. He assumed office on May 21, 1996. His current term ends on January 3, 2025. Blumenauer (Democratic Party) is running for re-election to the U.S. House to represent Oregon’s 3rd Congressional District. He declared candidacy for the 2024 election. He was first elected to the House in a special election in 1996. At the start of the 116th Congress, Blumenauer was a member of the House Committee on Ways and Means. Before joining Congress, Blumenauer was a member of the Oregon House of Representatives from 1973 to 1978, a county commissioner in Multnomah County, Oregon from 1978 to 1985, and a city commissioner in Portland, Oregon from 1986 to 1996. Blumenauer was born in Portland, Oregon, on August 16, 1948. He graduated from Centennial High School in 1966, received a B.A. from Lewis and Clark College in 1970 and his J.D. from Lewis and Clark Law School in 1976. He served as assistant to the president of Portland State University from 1970 to 1977.

About Northwest Natural

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.