Northwest Natural (NYSE:NWN) Releases Q2 Earnings Guidance

Northwest Natural (NYSE:NWN) updated its second quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of ($0.16)-($0.08) for the period, compared to the consensus estimate of ($0.03). Northwest Natural also updated its FY 2024 guidance to 2.200-2.400 EPS.

Analyst Upgrades and Downgrades

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

Northwest Natural Price Performance

NYSE NWN opened at $38.63 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $1.47 billion, a PE ratio of 14.86 and a beta of 0.54. The company 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 12-month low of $34.95 and a 12-month high of $48.37.

Northwest Natural (NYSE:NWN) last announced its earnings results on Friday, February 23rd. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $368.78 million. During the same period last year, the firm posted $1.36 EPS. As a group, equities analysts predict that Northwest Natural will post 2.27 earnings per share for the current fiscal year.

Northwest Natural Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders 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 yield of 5.05%. Northwest Natural’s dividend payout ratio 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.