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 EPS guidance of 2.200-2.400 for the period, compared to the consensus EPS estimate of 2.310. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. StockNews.com upgraded Northwest Natural from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Janney Montgomery Scott raised shares of Northwest Natural from a “neutral” rating to a “buy” rating and upped their price target for the stock from $36.00 to $43.00 in a research note on Monday, August 5th.

Northwest Natural Stock Performance

Shares of NWN traded down $1.07 during mid-day trading on Thursday, hitting $38.93. The company’s stock had a trading volume of 186,771 shares, compared to its average volume of 280,772. The stock’s 50-day moving average is $39.97 and its two-hundred day moving average is $38.40. 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 firm has a market capitalization of $1.51 billion, a PE ratio of 17.86 and a beta of 0.57. Northwest Natural has a one year low of $34.82 and a one year high of $41.25.

Northwest Natural (NYSE:NWN) last released its quarterly earnings data on Friday, August 2nd. The utilities provider reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.06. Northwest Natural had a return on equity of 6.31% and a net margin of 7.18%. The business had revenue of $211.70 million for the quarter, compared to analysts’ expectations of $231.99 million. During the same period in the previous year, the business posted $0.03 earnings per share. Northwest Natural’s quarterly revenue was down 11.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Northwest Natural will post 2.32 EPS for the current year.

Northwest Natural Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid 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 dividend 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%.

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.