Northwest Natural (NYSE:NWN) Updates Q3 2024 Earnings Guidance

Northwest Natural (NYSE:NWN) updated its third quarter 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of -0.860–0.740 for the period. The company issued revenue guidance of -. Northwest Natural also updated its FY 2024 guidance to 2.200-2.400 EPS.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Stifel Nicolaus increased their price target on shares of Northwest Natural from $39.00 to $40.00 and gave the stock a buy rating in a research note on Tuesday. Janney Montgomery Scott started coverage on shares of Northwest Natural in a research report on Wednesday, January 31st. They issued a neutral rating and a $39.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Northwest Natural presently has an average rating of Hold and an average price target of $41.40.

Northwest Natural Stock Performance

Northwest Natural stock remained flat at $38.47 during midday trading on Thursday. The company had a trading volume of 15,698 shares, compared to its average volume of 329,475. Northwest Natural has a 1 year low of $34.95 and a 1 year high of $47.29. 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 capitalization of $1.46 billion, a PE ratio of 14.79 and a beta of 0.54. The business’s 50 day moving average is $37.12 and its two-hundred day moving average is $37.51.

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

Northwest Natural Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a $0.488 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.95 dividend on an annualized basis 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.