Burney Co. purchased a new position in shares of NorthWestern Corp (NYSE:NWE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,450 shares of the utilities provider’s stock, valued at approximately $427,000.
Several other hedge funds also recently modified their holdings of the company. Trexquant Investment LP acquired a new stake in NorthWestern during the first quarter worth about $579,000. American Century Companies Inc. raised its stake in NorthWestern by 9.9% during the first quarter. American Century Companies Inc. now owns 2,544,356 shares of the utilities provider’s stock worth $136,886,000 after acquiring an additional 230,085 shares during the period. Victory Capital Management Inc. raised its stake in NorthWestern by 8.9% during the first quarter. Victory Capital Management Inc. now owns 29,038 shares of the utilities provider’s stock worth $1,562,000 after acquiring an additional 2,367 shares during the period. Prudential Financial Inc. raised its stake in NorthWestern by 65.4% during the first quarter. Prudential Financial Inc. now owns 901,070 shares of the utilities provider’s stock worth $48,477,000 after acquiring an additional 356,191 shares during the period. Finally, Swiss National Bank raised its stake in NorthWestern by 2.3% during the first quarter. Swiss National Bank now owns 84,483 shares of the utilities provider’s stock worth $4,545,000 after acquiring an additional 1,900 shares during the period. 95.92% of the stock is currently owned by institutional investors and hedge funds.
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 value of $70,476.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.40% of the stock is currently owned by company insiders.
NWE has been the topic of several research reports. KeyCorp upgraded shares of NorthWestern from a “sector weight” rating to an “overweight” rating in a research note on Monday, June 4th. Zacks Investment Research upgraded shares of NorthWestern from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Thursday, May 24th. Barclays initiated coverage on shares of NorthWestern in a research note on Tuesday, July 10th. They set an “equal weight” rating and a $60.00 price objective on the stock. Credit Suisse Group increased their price objective on shares of NorthWestern from $54.00 to $55.00 and gave the stock a “$58.28” rating in a research note on Thursday, July 19th. Finally, ValuEngine upgraded shares of NorthWestern from a “sell” rating to a “hold” rating in a research note on Monday, July 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. NorthWestern currently has an average rating of “Hold” and an average target price of $58.20.
Shares of NYSE:NWE opened at $60.39 on Friday. NorthWestern Corp has a 52 week low of $50.01 and a 52 week high of $64.47. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 7.76 and a beta of 0.13. The company has a current ratio of 0.77, a quick ratio of 0.62 and a debt-to-equity ratio of 1.07.
NorthWestern (NYSE:NWE) last announced its quarterly earnings results on Thursday, July 19th. The utilities provider reported $0.87 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $286.14 million. During the same quarter last year, the business earned $0.47 earnings per share. NorthWestern’s revenue was down 7.8% compared to the same quarter last year. sell-side analysts predict that NorthWestern Corp will post 3.45 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $2.20 annualized dividend and a dividend yield of 3.64%. NorthWestern’s payout ratio is currently 66.67%.
NorthWestern Company Profile
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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