Northwest Natural (NYSE:NWN) Releases FY24 Earnings Guidance

Northwest Natural (NYSE:NWN) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $2.20-2.40 for the period, compared to the consensus estimate of $2.29. Northwest Natural also updated its FY 2024 guidance to 2.200-2.400 EPS.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NWN shares. Stifel Nicolaus boosted their price target 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 started coverage on shares of Northwest Natural in a report on Wednesday, January 31st. They issued a neutral rating and a $39.00 price target on the stock. One 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’s stock. Based on data from MarketBeat, Northwest Natural has a consensus rating of Hold and an average price target of $41.40.

Northwest Natural Trading Down 0.6 %

Shares of NYSE:NWN traded down $0.23 during trading on Thursday, reaching $38.24. 25,805 shares of the company traded hands, compared to its average volume of 329,558. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 14.79 and a beta of 0.54. Northwest Natural has a 52-week low of $34.95 and a 52-week high of $47.29. The company has a current ratio of 0.86, a quick ratio of 0.70 and a debt-to-equity ratio of 1.11. The business’s fifty day moving average is $37.12 and its 200-day moving average is $37.51.

Northwest Natural (NYSE:NWN) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $447.81 million. During the same period in the previous year, the company earned $2.01 earnings per share. Northwest Natural’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, analysts forecast that Northwest Natural will post 2.27 EPS for the current year.

Northwest Natural Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a dividend of $0.488 per share. This represents a $1.95 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date is Monday, April 29th. Northwest Natural’s dividend payout ratio (DPR) 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.