Northwest Natural (NYSE:NWN) Updates FY24 Earnings Guidance

Northwest Natural (NYSE:NWN) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $2.20-2.40 for the period, compared to the consensus earnings per share estimate of $2.29. Northwest Natural also updated its FY 2024 guidance to 2.200-2.400 EPS.

Northwest Natural Price Performance

Shares of NYSE NWN opened at $38.63 on Monday. The firm has a market cap of $1.47 billion, a PE ratio of 14.86 and a beta of 0.54. The firm has a fifty day moving average of $37.03 and a 200 day moving average of $37.52. 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 has a one year low of $34.95 and a one year high of $48.37.

Northwest Natural (NYSE:NWN) last issued its quarterly earnings results on Friday, February 23rd. The utilities provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.10). The company had revenue of $355.71 million during the quarter, compared to analysts’ expectations of $368.78 million. Northwest Natural had a return on equity of 7.52% and a net margin of 7.84%. During the same period in the previous year, the firm posted $1.36 EPS. As a group, research analysts predict that Northwest Natural will post 2.27 EPS for the current fiscal year.

Northwest Natural Announces Dividend

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 paid a $0.488 dividend. This represents a $1.95 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date is Monday, April 29th. Northwest Natural’s dividend payout ratio (DPR) is presently 75.00%.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott started coverage on shares of 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 investment analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat, Northwest Natural presently has an average rating of Hold and an average target price of $45.20.

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.