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

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

Northwest Natural Trading Down 0.9 %

Shares of NYSE NWN traded down $0.34 during trading hours on Friday, hitting $38.55. The company’s stock had a trading volume of 65,840 shares, compared to its average volume of 279,758. The business has a 50-day simple moving average of $39.97 and a 200-day simple moving average of $38.40. Northwest Natural has a 12 month low of $34.82 and a 12 month high of $41.25. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 17.86 and a beta of 0.57. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.97.

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

Northwest Natural Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend is Thursday, October 31st. This is an increase from Northwest Natural’s previous quarterly dividend of $0.49. Northwest Natural’s payout ratio is 89.45%.

Analyst Upgrades and Downgrades

A number of research firms have commented on NWN. Janney Montgomery Scott raised shares of Northwest Natural from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $36.00 to $43.00 in a research report on Monday, August 5th. StockNews.com raised shares of Northwest Natural from a “sell” rating to a “hold” rating in a research report on Monday, August 5th.

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.