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

Northwest Natural (NYSE:NWN) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 2.200-2.400 for the period, compared to the consensus earnings per share estimate of 2.290. The company issued revenue guidance of -. Northwest Natural also updated its FY24 guidance to $2.20-2.40 EPS.

Northwest Natural Stock Up 0.2 %

Shares of NWN traded up $0.09 during midday trading on Wednesday, hitting $38.46. The stock had a trading volume of 327,471 shares, compared to its average volume of 333,082. 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 $1.46 billion, a price-to-earnings ratio of 14.76 and a beta of 0.54. The company has a 50 day simple moving average of $37.09 and a two-hundred day simple moving average of $37.50. 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 quarterly earnings data 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). 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 for the quarter, compared to the consensus estimate of $447.81 million. During the same quarter in the prior year, the company earned $2.01 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, analysts anticipate that Northwest Natural will post 2.27 EPS for the current year.

Northwest Natural Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.488 per share. This represents a $1.95 annualized dividend and a dividend yield of 5.08%. The ex-dividend date is Monday, April 29th. Northwest Natural’s dividend payout ratio (DPR) is currently 75.00%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Stifel Nicolaus raised their price objective on shares of Northwest Natural from $39.00 to $40.00 and gave the stock a buy rating in a report on Tuesday. Janney Montgomery Scott began coverage on Northwest Natural in a report on Wednesday, January 31st. They issued a neutral rating and a $39.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $41.40.

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.