Northwest Natural (NYSE:NWN) Releases Q2 Earnings Guidance

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

Northwest Natural Stock Performance

Shares of NYSE:NWN remained flat at $38.47 on Thursday. The stock had a trading volume of 15,698 shares, compared to its average volume of 329,475. The business has a 50-day moving average of $37.12 and a 200 day moving average of $37.51. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.70 and a current ratio of 0.86. The firm has a market capitalization of $1.46 billion, a P/E ratio of 14.79 and a beta of 0.54. Northwest Natural has a twelve month low of $34.95 and a twelve month high of $47.29.

Northwest Natural (NYSE:NWN) last issued its 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 for the quarter, compared to analysts’ expectations of $447.81 million. During the same quarter in the previous year, the firm posted $2.01 EPS. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities analysts predict that Northwest Natural will post 2.27 EPS for the current year.

Northwest Natural Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a $0.488 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.95 dividend on an annualized basis and a yield of 5.07%. Northwest Natural’s dividend payout ratio (DPR) is 75.00%.

Analysts Set New Price Targets

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

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.