Northwest Natural (NYSE:NWN) Releases FY24 Earnings Guidance

Northwest Natural (NYSE:NWN) updated its FY24 earnings guidance on Monday. 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.

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott assumed coverage on Northwest Natural in a research report on Wednesday, January 31st. They set a neutral rating and a $39.00 target price on the stock. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $45.20.

Northwest Natural Stock Down 0.4 %

Shares of NYSE:NWN opened at $38.63 on Monday. The business’s 50 day simple moving average is $37.03 and its two-hundred day simple moving average is $37.52. The firm has a market cap of $1.47 billion, a P/E ratio of 14.86 and a beta of 0.54. 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 52-week low of $34.95 and a 52-week high of $48.37.

Northwest Natural (NYSE:NWN) last issued its quarterly earnings data 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 last year, the company earned $1.36 earnings per share. As a group, research analysts forecast that Northwest Natural will post 2.27 EPS for the current fiscal year.

Northwest Natural Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a $0.488 dividend. This represents a $1.95 annualized dividend 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%.

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.