Northwest Natural (NYSE:NWN) Updates Q2 2024 Earnings Guidance

Northwest Natural (NYSE:NWN) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided EPS guidance of -0.160–0.080 for the period, compared to the consensus EPS estimate of 0.000. The company issued revenue guidance of -. Northwest Natural also updated its FY 2024 guidance to 2.200-2.400 EPS.

Analysts Set New Price Targets

Several research firms recently issued reports on NWN. Stifel Nicolaus lifted their price objective on Northwest Natural from $39.00 to $40.00 and gave the company a buy rating in a research note on Tuesday. Janney Montgomery Scott started coverage on Northwest Natural in a research report on Wednesday, January 31st. They set a neutral rating and a $39.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $41.40.

Northwest Natural Stock Up 0.1 %

Shares of NYSE NWN traded up $0.05 during mid-day trading on Tuesday, hitting $37.91. 29,153 shares of the stock traded hands, compared to its average volume of 330,624. The stock has a fifty day moving average price of $37.05 and a 200-day moving average price of $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. The company has a market cap of $1.44 billion, a price-to-earnings 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.

Northwest Natural (NYSE:NWN) last released its earnings results on Monday, May 6th. The utilities provider reported $1.69 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.13). Northwest Natural had a return on equity of 7.52% and a net margin of 7.84%. The business had revenue of $433.50 million during the quarter, compared to analysts’ expectations of $447.81 million. During the same period in the prior year, the company earned $2.01 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. Research analysts anticipate that Northwest Natural will post 2.27 EPS for the current year.

Northwest Natural Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors 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 yield of 5.15%. The ex-dividend date is Monday, April 29th. 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.