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

Northwest Natural (NYSE:NWN) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 2.200-2.400 for the period, compared to the consensus earnings per share estimate of 2.310. The company issued revenue guidance of -.

Northwest Natural Price Performance

Shares of NYSE NWN traded down $1.07 during trading on Thursday, reaching $38.93. The company had a trading volume of 186,771 shares, compared to its average volume of 280,772. Northwest Natural has a 52 week low of $34.82 and a 52 week high of $41.25. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.97. The business’s 50 day moving average price is $39.97 and its 200-day moving average price is $38.40. The stock has a market cap of $1.51 billion, a PE ratio of 17.86 and a beta of 0.57.

Northwest Natural (NYSE:NWN) last released its earnings results on Friday, August 2nd. The utilities provider reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.06. The company had revenue of $211.70 million during the quarter, compared to analysts’ expectations of $231.99 million. Northwest Natural had a return on equity of 6.31% and a net margin of 7.18%. The business’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same period last year, the firm earned $0.03 EPS. Analysts expect that Northwest Natural will post 2.32 earnings per share for the current year.

Northwest Natural Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a $0.49 dividend. This is a positive change from Northwest Natural’s previous quarterly dividend of $0.49. This represents a $1.96 annualized dividend and a yield of 5.03%. The ex-dividend date of this dividend is Thursday, October 31st. Northwest Natural’s dividend payout ratio is currently 89.91%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. StockNews.com raised Northwest Natural from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Janney Montgomery Scott raised shares of Northwest Natural from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $36.00 to $43.00 in a research note on Monday, August 5th.

About Northwest Natural

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.