Northwest Natrl Stock Price, News & Analysis

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.

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.