Northwest Natural (NYSE:NWN) Releases Q2 2024 Earnings Guidance

Northwest Natural (NYSE:NWN) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of -0.160–0.080 for the period, compared to the consensus estimate of 0.000. The company issued revenue guidance of -. Northwest Natural also updated its FY 2024 guidance to 2.200-2.400 EPS.

Northwest Natural Stock Performance

NYSE:NWN opened at $38.63 on Monday. 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 firm has a 50-day moving average price of $37.03 and a two-hundred day moving average price of $37.52. Northwest Natural has a twelve month low of $34.95 and a twelve month high of $48.37. The company has a market capitalization of $1.47 billion, a P/E ratio of 14.86 and a beta of 0.54.

Northwest Natural (NYSE:NWN) last released its quarterly earnings results on Friday, February 23rd. The utilities provider reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.10). Northwest Natural had a return on equity of 7.52% and a net margin of 7.84%. The company had revenue of $355.71 million for the quarter, compared to analysts’ expectations of $368.78 million. During the same period in the previous year, the business posted $1.36 EPS. As a group, research analysts expect that Northwest Natural will post 2.27 earnings per share for the current fiscal year.

Northwest Natural Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a $0.488 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.95 dividend on an annualized basis and a yield of 5.05%. Northwest Natural’s dividend payout ratio (DPR) is 75.00%.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott began coverage on shares of Northwest Natural in a research report on Wednesday, January 31st. They set a neutral rating and a $39.00 target price on the stock. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, Northwest Natural presently has an average rating of Hold and a consensus price target of $45.20.

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.