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

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

NWN has been the subject of several research analyst reports. Stifel Nicolaus lifted their price target on shares of Northwest Natural from $39.00 to $40.00 and gave the company a buy rating in a research note on Tuesday. Janney Montgomery Scott initiated coverage on Northwest Natural in a research note on Wednesday, January 31st. They set a neutral rating and a $39.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $41.40.

Northwest Natural Price Performance

NWN stock remained flat at $38.47 during mid-day trading on Thursday. The company’s stock had a trading volume of 15,698 shares, compared to its average volume of 329,475. The firm has a market cap of $1.46 billion, a PE ratio of 14.79 and a beta of 0.54. Northwest Natural has a fifty-two week low of $34.95 and a fifty-two week high of $47.29. The company has a fifty day simple moving average of $37.12 and a 200 day simple moving average of $37.51. The company has a current ratio of 0.86, a quick ratio of 0.70 and a debt-to-equity ratio of 1.11.

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

Northwest Natural Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Monday, April 29th. This represents a $1.95 annualized dividend and a yield of 5.07%. Northwest Natural’s dividend payout ratio (DPR) 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.