Canada Pension Plan Investment Board lifted its stake in NorthWestern Corp (NYSE:NWE) by 101.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 715,800 shares of the utilities provider’s stock after purchasing an additional 359,800 shares during the quarter. Canada Pension Plan Investment Board owned about 1.42% of NorthWestern worth $40,980,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in NWE. Victory Capital Management Inc. raised its position in shares of NorthWestern by 1,656.9% in the 2nd quarter. Victory Capital Management Inc. now owns 510,169 shares of the utilities provider’s stock valued at $29,208,000 after purchasing an additional 481,131 shares during the last quarter. Prudential Financial Inc. raised its position in shares of NorthWestern by 65.4% in the 1st quarter. Prudential Financial Inc. now owns 901,070 shares of the utilities provider’s stock valued at $48,477,000 after purchasing an additional 356,191 shares during the last quarter. Dalton Greiner Hartman Maher & Co. purchased a new position in shares of NorthWestern in the 2nd quarter valued at approximately $19,075,000. Robeco Institutional Asset Management B.V. raised its position in shares of NorthWestern by 2,904.3% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 302,290 shares of the utilities provider’s stock valued at $17,308,000 after purchasing an additional 292,228 shares during the last quarter. Finally, LSV Asset Management raised its position in shares of NorthWestern by 2,336.0% in the 1st quarter. LSV Asset Management now owns 258,214 shares of the utilities provider’s stock valued at $13,891,000 after purchasing an additional 247,614 shares during the last quarter. 94.87% of the stock is owned by hedge funds and other institutional investors.
In other NorthWestern news, VP Curtis T. Pohl sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $58.73, for a total transaction of $70,476.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.40% of the company’s stock.
NWE opened at $61.89 on Friday. NorthWestern Corp has a 12-month low of $50.01 and a 12-month high of $64.47. The company has a quick ratio of 0.62, a current ratio of 0.77 and a debt-to-equity ratio of 1.07. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 7.59 and a beta of 0.18.
NorthWestern (NYSE:NWE) last posted its quarterly earnings results on Thursday, July 19th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.43. NorthWestern had a net margin of 14.84% and a return on equity of 10.28%. The company had revenue of $261.82 million during the quarter, compared to analyst estimates of $286.14 million. During the same period last year, the firm posted $0.47 EPS. NorthWestern’s revenue for the quarter was down 7.8% compared to the same quarter last year. analysts expect that NorthWestern Corp will post 3.45 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Thursday, September 13th. NorthWestern’s dividend payout ratio is presently 66.67%.
Several equities analysts recently commented on the stock. Credit Suisse Group increased their price objective on shares of NorthWestern from $54.00 to $55.00 and gave the company a “$58.28” rating in a research report on Thursday, July 19th. Zacks Investment Research raised shares of NorthWestern from a “hold” rating to a “strong-buy” rating and set a $67.00 price objective for the company in a research report on Tuesday, July 24th. KeyCorp raised shares of NorthWestern from a “sector weight” rating to an “overweight” rating in a research report on Monday, June 4th. Barclays assumed coverage on shares of NorthWestern in a research report on Tuesday, July 10th. They issued an “equal weight” rating and a $60.00 price objective for the company. Finally, ValuEngine raised shares of NorthWestern from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $58.20.
NorthWestern Corporation, doing business as NorthWestern Energy, provides electricity and natural gas to residential, commercial, and industrial customers. The company operates through Electric Operations and Natural Gas Operations segments. It generates, transmits, and distributes electricity; and produces, stores, transmits, and distributes natural gas, as well as owns municipal franchises to provide natural gas service in the communities.
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