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NEW YORK ( TheStreet) -- The ex-dividend date for Northwest Natural Gas (NYSE: NWN) is tomorrow, January 27, 2012. Owners of shares as of market close today will be eligible for a dividend of 45 cents per share. At a price of $47.45 as of 9:30 a.m. ET, the dividend yield is 3.8%. The average volume for Northwest Natural Gas has been 103,100 shares per day over the past 30 days. Northwest Natural Gas has a market cap of $1.25 billion and is part of the utilities sector and utilities industry. Shares are down 1.4% year to date as of the close of trading on Wednesday. Northwest Natural Gas Company stores and distributes natural gas primarily in Oregon, Washington, and California. The company operates in two segments, Local Gas Distribution and Gas Storage. The Local Gas Distribution segment distributes natural gas in Oregon and southwest Washington. The company has a P/E ratio of 19.5, equal to the average utilities industry P/E ratio and above the S&P 500 P/E ratio of 17.7.