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

Northwest Natural (NYSE:NWN) updated its third quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of -0.860–0.740 for the period, compared to the consensus earnings per share estimate of -0.780. The company issued revenue guidance of -. Northwest Natural also updated its FY 2024 guidance to 2.200-2.400 EPS.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. StockNews.com downgraded Northwest Natural from a hold rating to a sell rating in a research note on Tuesday, July 16th. Stifel Nicolaus increased 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, May 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $41.40.

Northwest Natural Stock Down 3.6 %

Shares of Northwest Natural stock traded down $1.44 on Friday, reaching $38.92. 423,438 shares of the company were exchanged, compared to its average volume of 234,778. Northwest Natural has a one year low of $34.82 and a one year high of $42.92. The company has a 50-day moving average of $37.11 and a 200 day moving average of $37.21. The company has a current ratio of 1.15, a quick ratio of 0.93 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 17.07 and a beta of 0.57.

Northwest Natural (NYSE:NWN) last posted its quarterly earnings results on Friday, August 2nd. The utilities provider reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05. Northwest Natural had a return on equity of 6.76% and a net margin of 7.36%. The business had revenue of $211.70 million for the quarter, compared to analysts’ expectations of $231.99 million. During the same quarter in the prior year, the business earned $0.03 EPS. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis. On average, equities research analysts forecast that Northwest Natural will post 2.28 earnings per share for the current year.

Northwest Natural Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be issued a $0.488 dividend. This represents a $1.95 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend is Wednesday, July 31st. Northwest Natural’s dividend payout ratio is 85.53%.

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.