David Hugo Anderson, CEO of Northwest Natural Holding Co (NYSE:NWN), recently sold 7,500 shares of the company's common stock. The transaction, executed on January 21, 2025, was conducted under a pre-established Rule 10b5-1 trading plan. The shares were sold at a weighted average price of $41.329, with prices ranging from $40.775 to $41.51. According to InvestingPro data, the stock currently trades at $39.75, suggesting the timing of the sale was favorable.
Following this transaction, Anderson holds 137,742 shares directly. Additionally, he has 10,133.896 shares credited to his account under Northwest Natural Gas Company's Deferred Compensation Plan for Directors and Executives. This sale is part of Anderson's strategy to diversify his holdings in light of his upcoming retirement on April 1, 2025. The company maintains a strong dividend track record, having raised dividends for 54 consecutive years, with a current yield of 4.92%. InvestingPro analysis reveals 6 additional key insights about NWN's financial health and future prospects, available to subscribers.
In other recent news, NW Natural Holdings concluded its acquisition of SiEnergy Operating, LLC, a rapidly expanding natural gas utility company. This acquisition expands NW Natural Holdings' reach in the Texas market, particularly in the bustling metropolitan areas of Houston, Dallas, and Austin. SiEnergy has shown significant growth, serving around 70,000 residential and commercial customers, and has reported a rate base of approximately $247 million as of December 2024.
NW Natural Holdings also issued $135 million in senior notes, consisting of two series: $90 million of 5.52% Senior Notes, Series C, due in 2029, and $45 million of 5.86% Senior Notes, Series D, due in 2034. The proceeds from this debt issuance are typically used for corporate expenses, infrastructure investment, debt refinancing, or other operational needs.
On the earnings front, NW Natural Holdings reported a Q3 net loss of $27.2 million, an increase from the previous year's Q3 loss. Despite this, the company reaffirmed its full-year earnings guidance, attributing this confidence to growth in its customer base and an approved $93.3 million revenue requirement increase.
The company is also expanding into the water sector and advancing renewable natural gas initiatives, with its first renewable project already operational and contributing to revenue and cash flow. However, a $13.7 million disallowance related to line extension allowances is set to impact Q4 with a non-cash adjustment of $10.1 million.
These recent developments reflect NW Natural Holdings' strategic efforts to navigate challenges and position itself for future growth. The company is actively pursuing acquisition opportunities and expects to maintain strong capital expenditures in 2024.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.