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

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NWN shares. Janney Montgomery Scott assumed coverage on Northwest Natural in a research note on Wednesday, January 31st. They issued a neutral rating and a $39.00 price objective on the stock. Stifel Nicolaus lifted their price objective on Northwest Natural from $39.00 to $40.00 and gave the stock a buy rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $41.40.

Northwest Natural Price Performance

Shares of Northwest Natural stock remained flat at $38.47 during trading hours on Thursday. The stock had a trading volume of 15,698 shares, compared to its average volume of 329,475. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.70 and a current ratio of 0.86. Northwest Natural has a 52-week low of $34.95 and a 52-week high of $47.29. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 14.79 and a beta of 0.54. The business has a 50 day moving average price of $37.12 and a two-hundred day moving average price of $37.51.

Northwest Natural (NYSE:NWN) last announced 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 firm had revenue of $433.50 million during the quarter, compared to analysts’ expectations of $447.81 million. During the same period in the previous year, the company posted $2.01 earnings per share. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, research analysts forecast that Northwest Natural will post 2.27 EPS for the current year.

Northwest Natural Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given 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 (DPR) is currently 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.