Mengis Capital Management Lowers stake in Northwest Natural Gas Co (NWN)

Northwest Natural Gas Co (NWN) : Mengis Capital Management reduced its stake in Northwest Natural Gas Co by 40.2% during the most recent quarter end. The investment management company now holds a total of 17,630 shares of Northwest Natural Gas Co which is valued at $1,113,863 after selling 11,850 shares in Northwest Natural Gas Co , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Northwest Natural Gas Co makes up approximately 0.94% of Mengis Capital Management’s portfolio.

Other Hedge Funds, Including , Feltz Wealth Plan reduced its stake in NWN by selling 312 shares or 32.1% in the most recent quarter. The Hedge Fund company now holds 660 shares of NWN which is valued at $41,699. Old Mutual Global Investors (uk) Ltd. added NWN to its portfolio by purchasing 4,232 company shares during the most recent quarter which is valued at $277,154. Acadian Asset Management added NWN to its portfolio by purchasing 19,426 company shares during the most recent quarter which is valued at $1,252,783. Northwest Natural Gas Co makes up approx 0.01% of Acadian Asset Management’s portfolio.

Northwest Natural Gas Co closed down -0.68 points or -1.07% at $62.65 with 1,05,033 shares getting traded on Monday. Post opening the session at $63.35, the shares hit an intraday low of $62.63 and an intraday high of $63.62 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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.

Many Wall Street Analysts have commented on Northwest Natural Gas Co. Northwest Natural Gas Co was Downgraded by Hilliard Lyons to ” Underperform” on May 26, 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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