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

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NWN. Stifel Nicolaus upped their price target on Northwest Natural from $39.00 to $40.00 and gave the company a buy rating in a research note on Tuesday. Janney Montgomery Scott assumed coverage on shares of Northwest Natural in a research note on Wednesday, January 31st. They issued a neutral rating and a $39.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Northwest Natural presently has an average rating of Hold and a consensus price target of $41.40.

Northwest Natural Stock Performance

Shares of NYSE NWN remained flat at $38.47 during mid-day trading on Thursday. The stock had a trading volume of 15,698 shares, compared to its average volume of 329,475. The company has a quick ratio of 0.70, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The company has a 50 day moving average price of $37.12 and a 200-day moving average price of $37.51. The company has a market cap of $1.46 billion, a P/E ratio of 14.79 and a beta of 0.54. Northwest Natural has a 12 month low of $34.95 and a 12 month high of $47.29.

Northwest Natural (NYSE:NWN) last released 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 net margin of 7.84% and a return on equity of 7.52%. The firm had revenue of $433.50 million during the quarter, compared to the consensus estimate of $447.81 million. During the same period in the prior year, the business posted $2.01 earnings per share. Northwest Natural’s quarterly revenue was down 6.3% compared to the same quarter last year. Sell-side analysts expect that Northwest Natural will post 2.27 earnings per share for the current fiscal year.

Northwest Natural Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.488 per share. This represents a $1.95 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date is Monday, April 29th. 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.