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 guidance of -0.160–0.080 for the period, compared to the consensus earnings per share estimate of 0.000. The company issued revenue guidance of -. Northwest Natural also updated its FY 2024 guidance to 2.200-2.400 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Stifel Nicolaus increased their price objective on 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 target price for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $41.40.

Northwest Natural Trading Up 0.2 %

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

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

Northwest Natural Announces Dividend

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

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.