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

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

Analyst Upgrades and Downgrades

NWN has been the topic of several analyst reports. Janney Montgomery Scott started coverage on Northwest Natural in a research note on Wednesday, January 31st. They issued a neutral rating and a $39.00 price objective on the stock. 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $41.40.

Northwest Natural Stock Performance

Shares of NYSE NWN traded up $0.05 during midday trading on Tuesday, hitting $37.91. 29,153 shares of the company’s stock were exchanged, compared to its average volume of 330,624. The stock’s 50 day moving average price is $37.05 and its 200-day moving average price is $37.51. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.70. The firm has a market cap of $1.44 billion, a P/E ratio of 14.58 and a beta of 0.54. Northwest Natural has a twelve month low of $34.95 and a twelve month high of $47.29.

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

Northwest Natural Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.95 dividend on an annualized basis and a yield of 5.15%. Northwest Natural’s payout ratio 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.