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

Northwest Natural (NYSE:NWN) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 2.200-2.400 for the period, compared to the consensus earnings per share estimate of 2.310. The company issued revenue guidance of -.

Analysts Set New Price Targets

Several research analysts have commented on the company. StockNews.com raised Northwest Natural from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Janney Montgomery Scott raised Northwest Natural from a “neutral” rating to a “buy” rating and raised their price objective for the company from $36.00 to $43.00 in a research report on Monday, August 5th.

Northwest Natural Stock Up 0.0 %

Shares of Northwest Natural stock traded up $0.01 during trading hours on Wednesday, hitting $40.01. 161,168 shares of the company’s stock traded hands, compared to its average volume of 281,220. The stock has a 50 day simple moving average of $39.97 and a 200-day simple moving average of $38.38. The company has a quick ratio of 0.73, a current ratio of 0.97 and a debt-to-equity ratio of 1.17. The company has a market cap of $1.55 billion, a PE ratio of 18.34 and a beta of 0.57. Northwest Natural has a twelve month low of $34.82 and a twelve month high of $41.25.

Northwest Natural (NYSE:NWN) last announced its earnings results on Friday, August 2nd. The utilities provider reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.06. The company had revenue of $211.70 million during the quarter, compared to the consensus estimate of $231.99 million. Northwest Natural had a return on equity of 6.31% and a net margin of 7.18%. The company’s revenue was down 11.0% on a year-over-year basis. During the same period last year, the firm earned $0.03 earnings per share. Equities research analysts anticipate that Northwest Natural will post 2.32 earnings per share for the current fiscal year.

Northwest Natural Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.90%. This is an increase from Northwest Natural’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, October 31st. Northwest Natural’s dividend payout ratio (DPR) is 89.45%.

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.