Northwest Natural (NYSE:NWN) Updates FY 2022 Earnings Guidance

Northwest Natural (NYSE:NWNGet Rating) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.45-$2.65 for the period, compared to the consensus earnings per share estimate of $2.53. The company issued revenue guidance of -.

NYSE NWN opened at $49.24 on Wednesday. The firm has a market cap of $1.69 billion, a P/E ratio of 20.35, a P/E/G ratio of 4.31 and a beta of 0.49. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.59 and a quick ratio of 0.52. The stock’s 50-day moving average is $51.80 and its 200-day moving average is $48.80. Northwest Natural has a one year low of $43.07 and a one year high of $57.63.

Northwest Natural (NYSE:NWNGet Rating) last announced its earnings results on Wednesday, May 4th. The utilities provider reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Northwest Natural had a net margin of 8.43% and a return on equity of 8.07%. The firm had revenue of $350.30 million during the quarter, compared to analyst estimates of $324.26 million. During the same period in the prior year, the business posted $1.94 EPS. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. Equities analysts anticipate that Northwest Natural will post 2.52 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Investors of record on Friday, April 29th will be given a $0.482 dividend. This represents a $1.93 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date is Thursday, April 28th. Northwest Natural’s dividend payout ratio is presently 79.75%.

NWN has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on Northwest Natural from $51.00 to $54.00 and gave the company an equal weight rating in a research report on Monday, February 28th. Royal Bank of Canada boosted their price target on Northwest Natural from $49.00 to $50.00 and gave the stock a sector perform rating in a research report on Thursday, April 14th. TheStreet upgraded Northwest Natural from a c+ rating to a b- rating in a research note on Monday, February 28th. StockNews.com began coverage on Northwest Natural in a research note on Thursday, March 31st. They set a hold rating for the company. Finally, Maxim Group reduced their target price on Northwest Natural from $74.00 to $62.00 in a research note on Monday, April 4th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Northwest Natural presently has an average rating of Hold and a consensus price target of $53.40.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NWN. BlackRock Inc. boosted its stake in Northwest Natural by 6.4% in the 4th quarter. BlackRock Inc. now owns 5,291,365 shares of the utilities provider’s stock valued at $258,112,000 after purchasing an additional 318,905 shares during the period. Norges Bank bought a new stake in shares of Northwest Natural during the 4th quarter valued at $13,019,000. State Street Corp raised its holdings in shares of Northwest Natural by 5.9% during the 4th quarter. State Street Corp now owns 1,336,239 shares of the utilities provider’s stock worth $65,182,000 after buying an additional 74,334 shares in the last quarter. Morgan Stanley raised its holdings in shares of Northwest Natural by 22.0% during the 2nd quarter. Morgan Stanley now owns 216,080 shares of the utilities provider’s stock worth $11,348,000 after buying an additional 39,001 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Northwest Natural by 3.4% during the 4th quarter. Legal & General Group Plc now owns 278,905 shares of the utilities provider’s stock worth $13,605,000 after buying an additional 9,122 shares in the last quarter. Institutional investors and hedge funds own 64.11% of the company’s stock.

About Northwest Natural (Get Rating)

Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, industrial, and transportation customers in Oregon and Southwest Washington. The company also operates 5.7 billion cubic feet of the Mist gas storage facility contracted to other utilities and third-party marketers; offers natural gas asset management services; and operates an appliance retail center.

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