Northwest Natural (NYSE:NWN) Updates 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 Ratings Changes

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

Northwest Natural Stock Performance

NYSE NWN traded up $0.09 on Wednesday, hitting $38.46. 327,471 shares of the stock traded hands, compared to its average volume of 333,082. The business’s fifty day moving average is $37.12 and its two-hundred day moving average is $37.51. 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 12 month low of $34.95 and a 12 month high of $47.29. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 14.79 and a beta of 0.54.

Northwest Natural (NYSE:NWN) last released 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). The company had revenue of $433.50 million for 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 revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.01 earnings per share. As a group, equities analysts anticipate that Northwest Natural will post 2.27 EPS for the current fiscal year.

Northwest Natural Dividend Announcement

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