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

Northwest Natural (NYSE:NWN) updated its second quarter 2024 earnings guidance on Monday. The company provided EPS guidance of -0.160–0.080 for the period, compared to the consensus EPS 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 Price Performance

Shares of NWN opened at $38.63 on Monday. The stock has a market cap of $1.47 billion, a P/E ratio of 14.86 and a beta of 0.54. The business’s fifty day moving average is $37.03 and its 200 day moving average is $37.52. The company has a quick ratio of 0.70, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. Northwest Natural has a 12-month low of $34.95 and a 12-month high of $48.37.

Northwest Natural (NYSE:NWN) last issued its quarterly earnings data on Friday, February 23rd. The utilities provider reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.10). The company had revenue of $355.71 million for the quarter, compared to the consensus estimate of $368.78 million. Northwest Natural had a return on equity of 7.52% and a net margin of 7.84%. During the same period in the prior year, the firm posted $1.36 earnings per share. Sell-side analysts anticipate that Northwest Natural will post 2.27 earnings per share for the current fiscal year.

Northwest Natural Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.