Northwest Natrl - NWN STOCK NEWS

NW Natural Holdings (NYSE:NWN) has appointed Megan H. Berge as deputy general counsel and corporate secretary, effective March 3. Berge joins from Baker Botts law firm, where she was a partner specializing in environmental law and civil litigation. She brings extensive experience in rulemaking and advocacy work related to federal and state environmental law, including advocacy for water providers on permitting and regulations.

The company, headquartered in Portland, Oregon, serves nearly one million customers across six states through its subsidiaries: NW Natural Gas Company, SiEnergy Operating, NW Natural Water Company, and NW Natural Renewables Holdings. NW Natural provides gas service to about 2 million people through 800,000 meters in Oregon and Southwest Washington, while SiEnergy serves approximately 70,000 customers in Texas metropolitan areas. NW Natural Water serves over 189,000 people through 76,100 meters across multiple states.

Northwest Natural Holding Company (NYSE: NWN) has announced its upcoming fourth quarter and full year 2024 earnings release and conference call, scheduled for Friday, February 28, 2025 at 8 a.m. Pacific Time. The company serves nearly one million customers across six states through multiple subsidiaries, including NW Natural (serving 2 million people through 800,000 meters), SiEnergy (serving 70,000 customers in Texas), and NW Natural Water (serving 189,000 people through 76,100 meters).

The company provides natural gas, water distribution, and wastewater services, with NW Natural operating 21.6 Bcf of underground gas storage capacity in Oregon. Their subsidiary NW Natural Renewables focuses on providing renewable fuels for decarbonization efforts across various sectors.

NW Natural Holdings (NYSE: NWN) has declared a quarterly dividend of 49 cents per share on its common stock, payable on February 14, 2025, to shareholders of record on January 31, 2025. The company's indicated annual dividend rate is $1.96 per share.

NW Natural Holdings operates through several subsidiaries, including Northwest Natural Gas Company, serving 2 million people across 140 communities, SiEnergy Operating serving 70,000 customers in Texas, and NW Natural Water providing services to over 189,000 people through 76,100 meters across multiple states. The company owns 21.6 Bcf of underground gas storage capacity and has been recognized by Ethisphere® for three consecutive years as one of the World's Most Ethical Companies®.

NW Natural has appointed Kim Rush as its next president, effective April 1, 2025. Rush, a 26-year veteran of the company, will assume full strategic, financial, and operational responsibilities for the 166-year-old Portland-headquartered utility. The appointment aligns with Justin B. Palfreyman's expected transition to CEO of NW Natural Holdings and NW Natural, replacing retiring David H. Anderson.

Rush has served in multiple leadership roles since joining in 1998, most recently as senior vice president and chief operating officer since 2023. Her previous positions included chief marketing officer and chief corporate communications officer. Before NW Natural, she held senior positions at Alltel and Bank of America

Currently serving on the Northwest Gas Association board and American Gas Association committees, Rush holds a Bachelor's in Communications from the University of Iowa and a Master's from Northwestern University.

Ridgewood Infrastructure has announced the sale of its 80% stake in SiEnergy to Northwest Natural Holding Company (NYSE: NWN). SiEnergy operates as a regulated natural gas utility serving residential and commercial customers in the Houston, Dallas, and Austin metropolitan areas.

Under Ridgewood's ownership since 2019, SiEnergy has experienced significant growth, expanding its customer base from approximately 20,000 to over 70,000 customers, establishing itself as one of the fastest-growing natural gas distribution utilities in the nation. RBC Capital Markets served as financial advisor, while White & Case LLP provided legal counsel for the transaction.

Northwest Natural Holding Company (NYSE: NWN) has completed its acquisition of SiEnergy Operating, one of the fastest-growing natural gas distribution utilities in the nation. The acquisition, initially announced in November 2024, expands NWN's presence in the Texas Triangle region, serving approximately 70,000 residential and commercial customers in Houston, Dallas, and Austin metropolitan areas.

SiEnergy is expected to have a rate base of $247 million as of December 31, 2024, with impressive growth metrics including a 26% compound annual rate base growth and 22% customer growth over the five years ending in 2024. The company has achieved organic growth by providing infrastructure to residential and commercial developments in high-growth areas.

NW Natural Holdings (NYSE: NWN) has announced the acquisition of SiEnergy Operating for $273 million in cash plus $152 million in debt assumption. SiEnergy serves approximately 70,000 customers in Texas's major metropolitan areas with a contracted customer backlog exceeding 180,000. The company has achieved 26% rate base growth and 22% customer growth annually over the past five years, with expected capital expenditures of $450-650 million over the next five years. The acquisition is expected to close in Q1 2025, supporting NW Natural Holdings' EPS growth outlook of 4-6%. The company plans to finance the cash portion through junior subordinated notes without issuing common equity.

NW Natural Holdings reported Q3 2024 financial results with a net loss of $27.2 million ($0.71 per share), compared to a $23.7 million loss in Q3 2023. For the first nine months of 2024, net income was $33.9 million ($0.88 per share), down from $49.2 million in 2023. The company added nearly 17,000 gas and water utility connections, achieved a 1.9% growth rate, and invested $294 million in infrastructure. New rates effective Nov. 1, 2024, include a $93.3 million revenue requirement increase. The company reaffirmed its 2024 EPS guidance of $1.94-$2.14 (GAAP) and long-term EPS growth target of 4-6% through 2027.

Northwest Natural Holding Company (NYSE: NWN) has announced its third quarter and year-to-date 2024 earnings release and analyst conference call, scheduled for Tuesday, Nov. 12, 2024 at 8 a.m. Pacific Time. The company will host a webcast on its corporate website and a conference call accessible via phone. NW Natural Holdings is the parent company of Northwest Natural Gas Company, NW Natural Water Company, and NW Natural Renewables Holdings, serving approximately 2 million people across various states. The company has been recognized for its ethical practices and high customer satisfaction scores.