Welcome to our dedicated page for Northwest Natrl news (Ticker: NWN), a resource for investors and traders seeking the latest updates and insights on Northwest Natrl stock.
Northwest Natural Holding Company (NYSE: NWN) generates a steady flow of news as a regulated utility holding company with operations in natural gas distribution, water and wastewater services, and renewable fuels. Headquartered in Portland, Oregon and in business for more than 166 years, NW Natural Holdings reports developments across its gas utilities in Oregon, southwest Washington and Texas, its water utility operations in several western states, and its renewables platform.
On this NWN news page, readers can follow company announcements about quarterly and year-to-date financial results, earnings guidance, and segment performance for NWN Gas Utility, SiEnergy Gas Utility, NWN Water Utility and NWN Renewables. Recent releases have covered net income and adjusted net income trends, customer growth in gas and water connections, capital investment levels, and the impact of new rates from general rate cases on utility margins.
News items also highlight regulatory milestones, such as general rate case settlements and final orders from the Public Utility Commission of Oregon, multi-year rate case filings in Washington, and the effects of updated depreciation studies and rate base changes. In Texas, NW Natural Holdings has issued releases on acquisitions like Hughes Gas Resources, Inc., rebranded as Pines Holdings, which expand the SiEnergy gas utility footprint and contracted customer backlog.
Corporate governance, leadership and capital allocation are recurring themes. Company updates include appointments of new independent directors, executive leadership changes in roles such as General Counsel and Chief People Officer, amendments to corporate bylaws, and regular dividend declarations, including a long record of consecutive annual dividend increases. Financing activities, such as bond issuances at the utility level, may also be reflected in related communications.
Investors, analysts and other stakeholders can use this news feed to monitor how Northwest Natural Holding Company manages its regulated utilities, executes acquisitions, navigates rate proceedings and communicates its approach to safety, environmental stewardship and the energy transition. Bookmark this page to review the latest NWN press releases, earnings announcements and regulatory updates as they are issued.
NW Natural has released a report titled Vision 2050: Destination Zero, outlining strategies for achieving carbon neutrality by 2050. This comprehensive assessment showcases multiple pathways utilizing enhanced building energy efficiency, renewable natural gas, clean hydrogen, and carbon capture technologies. The report emphasizes the collaboration of electric and gas systems to ensure reliability against climate challenges. The company serves approximately 2.5 million customers in Oregon and Southwest Washington, showcasing a commitment to environmental stewardship.
NW Natural Holdings (NYSE: NWN) successfully closed a $130 million sustainable bond on November 15, 2021, under its Sustainable Financing Framework. The funds will support renewable natural gas investments and various sustainability initiatives. Additionally, the company amended its credit facility on November 3, 2021, increasing its borrowing capacity to $600 million, linked to environmental metrics. NW Natural aims for 30% carbon savings by 2035 and strives to be carbon neutral by 2050.
Archaea Energy Inc. (NYSE: LFG) announced its third quarter 2021 financial results following its business combination with Aria Energy LLC. The company reported a net loss of $21.9 million over three months, contrasting with a net income of $52.7 million for the nine-month period. Combined RNG production reached 1.43 million MMBtu, with full-year guidance for RNG production set at approximately 5.4 million MMBtu. Archaea has also partnered with NW Natural for a 21-year RNG agreement, enhancing its market position and demonstrating confidence in future growth as it moves toward operational completion of its Project Assai facility.
Archaea Energy (NYSE: LFG) announced a long-term RNG purchase agreement with Northwest Natural Gas Company (NYSE: NWN) for up to 1 million MMBtu of renewable natural gas annually, starting in early 2022, with full delivery by 2025. This contract is part of NW Natural's commitment to sustainability, aiming for carbon neutrality. The agreement is a significant milestone, affirming Archaea's role in the renewable energy sector and NW Natural's efforts towards reducing methane emissions. The contracts are aligned with Oregon's Senate Bill 98, targeting renewable energy procurement.
Northwest Natural Holding Company (NWN) reported a net loss of $0.67 per share for Q3 2021, up from a loss of $0.61 per share in Q3 2020. However, net income for the first nine months rose to $1.24 per share, a 55% increase year-over-year due to customer growth and new rates in Oregon. The company invested over $200 million in utility systems to enhance reliability. NWN also launched a competitive renewable energy strategy and raised its annual indicated dividend to $1.93 per share. The company reaffirmed 2021 earnings guidance between $2.40 and $2.60 per share.
Northwest Natural Holding Company (NYSE: NWN) will release its third quarter and year-to-date 2021 earnings on November 5, 2021, at 8 a.m. PT (11 a.m. ET). An analyst conference call will follow to review results. NW Natural serves approximately 2.5 million customers and operates over 780,000 meters in Oregon and Southwest Washington. The company also owns 20 Bcf of underground gas storage capacity and provides water services to around 65,000 customers in the Pacific Northwest and Texas.
The Board of Directors of Northwest Natural Holding Company (NYSE: NWN) has announced a quarterly dividend increase to 48.25 cents per share, raising the annual dividend rate from $1.92 to $1.93. The dividend will be distributed on November 15, 2021, for shareholders on record as of October 29, 2021.
NW Natural Holding Company (NYSE: NWN) has appointed Malia H. Wasson as the new board chair effective August 9, 2021, marking a significant milestone as she is the first woman to hold this position. Wasson, a board member for seven years and former chair of the audit committee, brings extensive experience from her roles as CEO of Sand Creek Advisors and executive VP at U.S. Bank. Her leadership will guide the board on strategic matters, contributing to NW Natural's commitment to the community and its ongoing efforts in providing natural gas and water services to millions in the Pacific Northwest.
Northwest Natural Holdings (NWN) reported a net loss of $0.02 per share for Q2 2021, an improvement from a loss of $0.17 per share in Q2 2020. Year-to-date, net income rose to $1.92 per share, up from $1.41 per share in 2020. The company added nearly 12,000 natural gas meters, achieving a growth rate of 1.6%. NWN reaffirmed its 2021 earnings guidance between $2.40 and $2.60 per share. The firm filed a settlement in its Washington general rate case, aiming for a revenue increase starting November 2021.
NW Natural has entered into a new agreement with Element Markets to purchase renewable natural gas (RNG) for Oregon customers, aligning with Oregon Senate Bill 98. This is NW Natural's second RNG contract, following a previous agreement made in December 2020. The latest contract will supply RNG amounting to approximately 2% of NW Natural's annual sales volume, enough to heat around 36,000 homes. The agreement allows NW Natural to acquire Renewable Thermal Certificates (RTCs) from RNG facilities in New York City and Wisconsin, starting as early as September 2021.