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

Northwest Natural (NYSE:NWN) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 2.200-2.400 for the period, compared to the consensus earnings per share estimate of 2.290. The company issued revenue guidance of -. Northwest Natural also updated its FY24 guidance to $2.20-2.40 EPS.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus increased their target price on shares of Northwest Natural from $39.00 to $40.00 and gave the stock a buy rating in a research report on Tuesday. Janney Montgomery Scott began coverage on shares of Northwest Natural in a research note on Wednesday, January 31st. They issued a neutral rating and a $39.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $41.40.

Northwest Natural Trading Up 0.4 %

Shares of Northwest Natural stock traded up $0.15 on Tuesday, reaching $38.01. 40,213 shares of the company’s stock were exchanged, compared to its average volume of 330,755. The company has a market capitalization of $1.45 billion, a P/E ratio of 14.58 and a beta of 0.54. Northwest Natural has a 52 week low of $34.95 and a 52 week high of $47.29. The firm’s 50-day moving average is $37.05 and its two-hundred day moving average is $37.51. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.70 and a current ratio of 0.86.

Northwest Natural (NYSE:NWN) last released its quarterly earnings results on Monday, May 6th. The utilities provider reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.13). Northwest Natural had a net margin of 7.84% and a return on equity of 7.52%. The company had revenue of $433.50 million during the quarter, compared to analysts’ expectations of $447.81 million. During the same period in the previous year, the company posted $2.01 earnings per share. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. Sell-side analysts predict that Northwest Natural will post 2.27 EPS 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 paid a dividend of $0.488 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.95 annualized dividend and a dividend yield of 5.14%. Northwest Natural’s payout ratio is 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.