Northwest Natural (NYSE:NWN) Sets New 52-Week High – Still a Buy?

Northwest Natural Holding (NYSE:NWN)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $42.55 and last traded at $42.49, with a volume of 38769 shares traded. The stock had previously closed at $41.44.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NWN. StockNews.com upgraded shares of Northwest Natural from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Janney Montgomery Scott upgraded Northwest Natural from a “neutral” rating to a “buy” rating and raised their target price for the company from $36.00 to $43.00 in a research note on Monday, August 5th.

Northwest Natural Stock Performance

The business has a 50 day moving average of $39.93 and a 200-day moving average of $38.55. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.97. The company has a market capitalization of $1.61 billion, a P/E ratio of 19.00 and a beta of 0.58.

Northwest Natural Increases Dividend

The business also recently announced 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. This represents a $1.96 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend is Thursday, October 31st. Northwest Natural’s dividend payout ratio (DPR) is currently 89.91%.

Hedge Funds Weigh In On Northwest Natural

A number of large investors have recently bought and sold shares of NWN. GAMMA Investing LLC boosted its stake in shares of Northwest Natural by 173.5% during the 2nd quarter. GAMMA Investing LLC now owns 796 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 505 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Northwest Natural during the third quarter worth about $34,000. EntryPoint Capital LLC acquired a new stake in Northwest Natural in the first quarter valued at about $32,000. Quest Partners LLC increased its stake in shares of Northwest Natural by 12,044.4% during the 2nd quarter. Quest Partners LLC now owns 1,093 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 1,084 shares in the last quarter. Finally, Quarry LP grew its stake in Northwest Natural by 155.0% in the 2nd quarter. Quarry LP now owns 1,923 shares of the utilities provider’s stock worth $69,000 after acquiring an additional 1,169 shares during the period. Institutional investors own 75.13% of the company’s stock.

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.