Northwest Natural (NYSE:NWN) Releases Q2 2024 Earnings Guidance

Northwest Natural (NYSE:NWN) updated its second quarter 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of -0.160–0.080 for the period, compared to the consensus estimate of 0.000. The company issued revenue guidance of -. Northwest Natural also updated its FY 2024 guidance to 2.200-2.400 EPS.

Analysts Set New Price Targets

Several brokerages have commented on NWN. Stifel Nicolaus raised their price target on shares of Northwest Natural from $39.00 to $40.00 and gave the company a buy rating in a research report on Tuesday. Janney Montgomery Scott initiated coverage on Northwest Natural in a research report on Wednesday, January 31st. They set a neutral rating and a $39.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Northwest Natural currently has a consensus rating of Hold and a consensus target price of $41.40.

Northwest Natural Stock Performance

NYSE:NWN traded up $0.09 during trading hours on Wednesday, reaching $38.46. 149,496 shares of the company’s stock were exchanged, compared to its average volume of 331,025. The company has a 50-day moving average of $37.09 and a 200 day moving average of $37.50. The company has a quick ratio of 0.70, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 14.76 and a beta of 0.54. Northwest Natural has a 1-year low of $34.95 and a 1-year high of $47.29.

Northwest Natural (NYSE:NWN) last issued its quarterly earnings results on Monday, May 6th. The utilities provider reported $1.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.13). Northwest Natural had a return on equity of 7.52% and a net margin of 7.84%. The firm had revenue of $433.50 million for the quarter, compared to analyst estimates of $447.81 million. During the same quarter last year, the firm earned $2.01 earnings per share. The company’s revenue was down 6.3% compared to the same quarter last year. Research analysts anticipate that Northwest Natural will post 2.27 EPS for the current year.

Northwest Natural Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a $0.488 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.95 dividend on an annualized basis and a yield of 5.08%. Northwest Natural’s dividend payout ratio (DPR) is presently 75.00%.

Northwest Natural Company Profile

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.