Northwest Natural Holding (NYSE:NWN – Get Free Report) declared a quarterly dividend on Thursday, October 10th, RTT News reports. Stockholders of record on Thursday, October 31st will be given a dividend of 0.49 per share by the utilities provider on Friday, November 15th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date of this dividend is Thursday, October 31st. This is a boost from Northwest Natural’s previous quarterly dividend of $0.49.
Northwest Natural has raised its dividend payment by an average of 0.5% annually over the last three years and has raised its dividend annually for the last 70 consecutive years. Northwest Natural has a dividend payout ratio of 68.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Northwest Natural to earn $2.93 per share next year, which means the company should continue to be able to cover its $1.96 annual dividend with an expected future payout ratio of 66.9%.
Northwest Natural Price Performance
NWN opened at $39.99 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 0.97 and a debt-to-equity ratio of 1.17. The company’s 50-day moving average price is $39.97 and its 200 day moving average price is $38.38. Northwest Natural has a fifty-two week low of $34.82 and a fifty-two week high of $41.25. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 18.34 and a beta of 0.57.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on NWN shares. Janney Montgomery Scott raised shares of Northwest Natural from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $36.00 to $43.00 in a report on Monday, August 5th. StockNews.com upgraded shares of Northwest Natural from a “sell” rating to a “hold” rating in a research note on Monday, August 5th.
Get Our Latest Analysis on NWN
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.
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