Elite Wealth Management adds Northwest Natural Gas Co (NWN) to its portfolio

Northwest Natural Gas Co (NWN) : Elite Wealth Management added new position in Northwest Natural Gas Co during the most recent quarter end. The investment management firm now holds 3,461 shares of Northwest Natural Gas Co which is valued at $201,153 , the company said in a statement filed on Oct 14, 2016 with the SEC.Northwest Natural Gas Co makes up approximately 0.29% of Elite Wealth Management’s portfolio.

Other Hedge Funds, Including , Capstone Asset Management Co boosted its stake in NWN in the latest quarter, The investment management firm added 30 additional shares and now holds a total of 8,380 shares of Northwest Natural Gas Co which is valued at $471,124. Northwest Natural Gas Co makes up approx 0.01% of Capstone Asset Management Co’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in NWN by selling 4,352 shares or 46.31% in the most recent quarter. The Hedge Fund company now holds 5,046 shares of NWN which is valued at $285,503.

Northwest Natural Gas Co opened for trading at $60 and hit $60 on the upside on Friday, eventually ending the session at $58.12, with a gain of 0.09% or 0.05 points. The heightened volatility saw the trading volume jump to 70,348 shares. Company has a market cap of $1,601 M.

On the company’s financial health, Northwest Natural Gas Co reported $0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.06. The company had revenue of $99.20 million for the quarter, compared to analysts expectations of $99.93 million. The company’s revenue was down -28.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.08 EPS.

Investors should note that on Oct 6, 2016, Northwest Natural Gas Co announced a cash dividend of $0.4700. The company’s management has announced Oct 27, 2016 as the ex-dividend date and fixed the record date on Oct 31, 2016. The payable date has been fixed on Nov 15, 2016.

Northwest Natural Gas Company is engaged in the distribution of natural gas. The Company operates in two business segments: Local Gas Distribution and Gas Storage. The Company maintains operations in Oregon Washington and California and conducts businesses through NW Natural and its subsidiaries. The local gas distribution business referred to as the utility segment serves residential commercial and industrial customers in Oregon and southwest Washington; and the gas storage business referred to as the gas storage segment provides storage services for utilities gas marketers electric generators and industrial users from storage facilities located in Oregon and California. As of December 31 2014 the Company had 700000 customers with around 89% located in Oregon and 11% located in Washington. It provides natural gas service to over 100 cities in around 18 counties.

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