Welcome to our dedicated page for Northwest Natural Holding Company news (Ticker: NWN), a resource for investors and traders seeking the latest updates and insights on Northwest Natural Holding Company stock.
Northwest Natural Holding Company (NYSE: NWN), headquartered in Portland, Oregon, serves as the largest independent natural gas utility in the Pacific Northwest. With a robust network, the company provides reliable natural gas service to approximately 700,000 residential, commercial, and industrial customers in Oregon and southwest Washington. Founded on a commitment to delivering safe and efficient energy, NW Natural focuses on the distribution and purchase of natural gas through its primary subsidiary, NW Natural.
NW Natural's operations are strategically centered around its natural gas distribution segment. This segment is essential in ensuring the seamless purchase and distribution of natural gas, primarily catering to the substantial demand in Oregon and southwest Washington. The company's diverse customer base predominantly includes residential and commercial sectors, which significantly contribute to its revenue and profitability.
Recent achievements highlight NW Natural's dedication to innovation and sustainability. The company has embarked on several projects aimed at enhancing energy efficiency and reducing carbon emissions. Their commitment to environmental stewardship is evident through investments in renewable natural gas and cutting-edge technologies designed to optimize operational performance.
Financially, NW Natural maintains a solid standing with consistent revenue generation primarily driven by its residential and commercial customers. The company's strategic partnerships and customer-centric approach further bolster its market position, ensuring stable growth and long-term value creation for shareholders.
NW Natural continues to prioritize safety, reliability, and customer satisfaction. The company's forward-looking projects and initiatives are designed to meet the evolving energy needs of its customers while adhering to stringent regulatory standards. Stay updated on the latest developments, financial performance, and strategic initiatives of NW Natural by visiting www.nwnatural.com.
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.
Northwest Natural Holding Company (NYSE: NWN) has increased its quarterly dividend to 49 cents per share on common stock, payable on Nov. 15, 2024, to shareholders of record on Oct. 31, 2024. This marks the 69th consecutive year of dividend increases, with an indicated annual dividend rate of $1.96 per share.
NW Natural Holdings, headquartered in Portland, Oregon, has been in business for over 165 years. It owns NW Natural Gas Company, NW Natural Water Company, and NW Natural Renewables Holdings. The company has been recognized by Ethisphere® for three consecutive years as one of the World's Most Ethical Companies® and consistently leads the industry in J.D. Power & Associates customer satisfaction scores.
NW Natural Holdings (NYSE: NWN) has appointed Brian Fellon as its new vice president, Chief Information Officer/Chief Information Security Officer, effective September 23. Fellon brings extensive experience from his previous role as director of applications services, AI and data at Puget Sound Energy. He has also held key IT positions at Eddie Bauer, Recreational Equipment, Inc., and Boeing. CEO David H. Anderson praised Fellon's understanding of IT fundamentals and his track record in executing organization-wide IT strategies. Fellon expressed enthusiasm about joining NW Natural and emphasized the pivotal role of technology in supporting operations and enhancing customer experience.
NW Natural Holding Company (NYSE: NWN) has elected Mary E. Ludford to its board of directors, effective August 19, 2024. Ludford brings extensive energy industry experience, having served in various executive roles at Exelon and its subsidiaries. Her most recent position was deputy chief security officer at Exelon from 2018 until her retirement in 2020. Ludford also currently serves on the board of Otter Tail (NASDAQ: OTTR).
Malia H. Wasson, NW Natural Holdings' board chair, expressed confidence in Ludford's ability to contribute valuable insights to the company's work. Ludford will also join the board of Northwest Natural Gas Company, NW Natural Holdings' wholly owned subsidiary, on the same date.
Northwest Natural Holding Company (NYSE:NWN) has appointed Raymond Kaszuba as its new senior vice president and chief financial officer, effective August 31, 2024. Kaszuba joins NW Natural Holdings from AmeriGas, where he served as interim president and CFO. His extensive background includes leadership roles at UGI , Enviva, ExxonMobil, Allegheny Energy, and US Bank.
CEO David H. Anderson praised Kaszuba's financial expertise and strategic mindset, highlighting his experience in utility, energy, and renewable industries. Kaszuba expressed enthusiasm for joining NW Natural Holdings, noting the company's strong position in the gas utility sector, expanding water and wastewater utility platform, and innovative renewables business.
NW Natural Holdings (NYSE: NWN) reported a net loss of $2.8 million ($0.07 per share) for Q2 2024, compared to a net income of $1.2 million ($0.03 per share) in Q2 2023. For the first half of 2024, net income was $61.0 million ($1.60 per share), down from $72.9 million ($2.03 per share) in the same period of 2023. The decrease was primarily due to regulatory lag.
Key highlights include adding nearly 16,000 gas and water utility connections, signing an acquisition agreement for Puttman and ICH Water, and reaffirming 2024 earnings guidance between $2.20 and $2.40 per share. Margin increased by $0.4 million due to customer growth, while operations and maintenance expenses decreased by $3.5 million.
However, net income decreased by $4.0 million for Q2 and by $11.9 million for the first half of 2024 due to higher depreciation, pension expenses, and lower interest income. Cash flow from operations was $246.1 million for the first six months, down from $297.9 million in 2023. A quarterly dividend of $0.4875 per share was declared, payable on August 15, 2024.
NW Natural Holdings (NYSE: NWN) has announced it will release its Q2 and year-to-date 2024 earnings on Friday, Aug. 2, 2024. An analyst conference call and webcast will follow at 8 a.m. Pacific Time (11 a.m. Eastern Time). The call can be accessed via NW Natural Holdings' corporate website or by phone. Replay options are available post-conference. NW Natural Holdings, headquartered in Portland, Oregon, comprises NW Natural Gas, NW Natural Water, and NW Natural Renewables. It serves approximately 2 million people with natural gas and 180,000 in water distribution across the Pacific Northwest, Texas, and Arizona. The company is recognized for its commitment to safety, environmental stewardship, and high customer satisfaction scores.
Northwest Natural Holding Company (NYSE: NWN) has declared a quarterly dividend of 48.75 cents per share on its common stock. The dividend will be paid on August 15, 2024, to shareholders of record on July 31, 2024. The indicated annual dividend rate stands at $1.95 per share.
NW Natural Holdings, headquartered in Portland, Oregon, has been in business for over 165 years. It owns NW Natural Gas Company, NW Natural Water Company, NW Natural Renewables Holdings, and other business interests. NW Natural provides natural gas service to around 2 million people in Oregon and Southwest Washington, owning 21.6 Bcf of underground gas storage capacity in Oregon. NW Natural Water serves over 180,000 people across the Pacific Northwest, Texas, and Arizona.
The company has been recognized as one of the World’s Most Ethical Companies® by Ethisphere® for three consecutive years and consistently achieves high customer satisfaction scores.
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