Virginia Retirement Systems ET AL bought a new position in shares of NorthWestern Corporation (NYSE:NWE) during the second quarter, according to its most recent filing with the SEC. The fund bought 20,600 shares of the utilities provider’s stock, valued at approximately $1,257,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in NorthWestern Corporation by 25.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,983 shares of the utilities provider’s stock worth $116,000 after acquiring an additional 397 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in NorthWestern Corporation during the 2nd quarter valued at about $155,000. North Star Investment Management Corp. grew its holdings in NorthWestern Corporation by 100.4% during the 2nd quarter. North Star Investment Management Corp. now owns 3,295 shares of the utilities provider’s stock valued at $201,000 after buying an additional 1,651 shares in the last quarter. Capstone Asset Management Co. grew its holdings in NorthWestern Corporation by 8.2% during the 1st quarter. Capstone Asset Management Co. now owns 3,830 shares of the utilities provider’s stock valued at $225,000 after buying an additional 290 shares in the last quarter. Finally, LS Investment Advisors LLC grew its holdings in NorthWestern Corporation by 19.8% during the 2nd quarter. LS Investment Advisors LLC now owns 3,837 shares of the utilities provider’s stock valued at $234,000 after buying an additional 633 shares in the last quarter. 98.40% of the stock is owned by institutional investors.
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NWE has been the subject of a number of recent analyst reports. Zacks Investment Research lowered NorthWestern Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Credit Suisse Group lowered NorthWestern Corporation from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $62.00 to $60.00 in a report on Monday, July 24th. Finally, BidaskClub raised NorthWestern Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The company has a consensus rating of “Sell” and an average target price of $60.00.
Shares of NorthWestern Corporation (NWE) traded down 0.46% during mid-day trading on Friday, hitting $58.96. The stock had a trading volume of 572,527 shares. The stock’s 50-day moving average is $59.96 and its 200 day moving average is $60.12. The company has a market cap of $2.86 billion, a PE ratio of 17.09 and a beta of 0.36. NorthWestern Corporation has a 12 month low of $53.85 and a 12 month high of $63.86.
NorthWestern Corporation (NYSE:NWE) last released its quarterly earnings results on Tuesday, July 25th. The utilities provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.15). The firm had revenue of $283.86 million for the quarter, compared to analysts’ expectations of $302.42 million. NorthWestern Corporation had a net margin of 13.17% and a return on equity of 9.31%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. On average, equities research analysts forecast that NorthWestern Corporation will post $3.39 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Thursday, September 14th. NorthWestern Corporation’s dividend payout ratio is presently 60.34%.
In other NorthWestern Corporation news, CEO Robert C. Rowe sold 3,626 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $60.43, for a total transaction of $219,119.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.33% of the company’s stock.
NorthWestern Corporation Company Profile
NorthWestern Corporation, doing business as North-Western Energy, provides electricity and natural gas. The Company’s segments are Electric operations, Natural gas operations and All other. As of December 31, 2016, the Company provided electricity and natural gas to approximately 709,600 customers in Montana, South Dakota and Nebraska.
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