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

Northwest Natural (NYSE:NWN) issued an update on its third quarter 2024 earnings guidance on Monday morning. The company provided earnings per share 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.

Northwest Natural Trading Up 0.2 %

Shares of NYSE:NWN traded up $0.09 on Wednesday, hitting $38.46. 149,496 shares of the company’s stock were exchanged, compared to its average volume of 331,025. The business’s 50 day simple moving average is $37.09 and its two-hundred day simple moving average is $37.50. 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 stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 14.76 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 quarterly earnings data on Monday, May 6th. The utilities provider reported $1.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.13). The company had revenue of $433.50 million during the quarter, compared to analysts’ expectations of $447.81 million. Northwest Natural had a net margin of 7.84% and a return on equity of 7.52%. Northwest Natural’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the firm earned $2.01 earnings per share. Analysts anticipate that Northwest Natural will post 2.27 EPS for the current fiscal year.

Northwest Natural Dividend Announcement

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

Analyst Ratings Changes

NWN has been the subject of several recent research reports. Janney Montgomery Scott initiated coverage on shares of Northwest Natural in a report on Wednesday, January 31st. They issued a neutral rating and a $39.00 price target for the company. Stifel Nicolaus raised their price target on shares of Northwest Natural from $39.00 to $40.00 and gave the company a buy rating in a report on Tuesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Northwest Natural currently has an average rating of Hold and an average 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.