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

Northwest Natural (NYSE:NWN) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 2.200-2.400 for the period, compared to the consensus earnings per share estimate of 2.290. The company issued revenue guidance of -. Northwest Natural also updated its FY24 guidance to $2.20-2.40 EPS.

Analysts Set New Price Targets

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

Northwest Natural Stock Performance

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

Northwest Natural (NYSE:NWN) last posted its quarterly earnings data 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). The company had revenue of $433.50 million during the quarter, compared to analyst estimates of $447.81 million. Northwest Natural had a return on equity of 7.52% and a net margin of 7.84%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.01 EPS. Equities analysts expect that Northwest Natural will post 2.27 earnings per share for the current fiscal 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 paid a dividend of $0.488 per share. The ex-dividend date is Monday, April 29th. This represents a $1.95 dividend on an annualized basis and a dividend yield of 5.07%. Northwest Natural’s dividend payout ratio is presently 75.00%.

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.