NorthWestern Corp. (NWE) Sees Unusually-High Trading Volume
NorthWestern Corp. (NYSE:NWE) shares saw an uptick in trading volume on Friday . 657,059 shares changed hands during trading, an increase of 37% from the previous session’s volume of 480,622 shares.The stock last traded at $61.68 and had previously closed at $61.23.
Several brokerages have commented on NWE. Zacks Investment Research downgraded NorthWestern Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. Mizuho began coverage on NorthWestern Corp. in a report on Wednesday, March 30th. They set a “neutral” rating on the stock.
The company has a market cap of $2.98 billion and a price-to-earnings ratio of 21.45. The stock has a 50 day moving average of $60.18 and a 200 day moving average of $58.40.
NorthWestern Corp. (NYSE:NWE) last released its quarterly earnings data on Wednesday, April 20th. The company reported $1.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by $0.12. The firm earned $332.50 million during the quarter, compared to analyst estimates of $377.39 million. During the same quarter in the previous year, the business earned $1.18 EPS. NorthWestern Corp.’s quarterly revenue was down 3.9% compared to the same quarter last year. Analysts expect that NorthWestern Corp. will post $3.29 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Monday, June 13th.
In other NorthWestern Corp. news, Director Jan Robert Horsfall sold 3,200 shares of the business’s stock in a transaction that occurred on Tuesday, April 26th. The stock was sold at an average price of $56.38, for a total value of $180,416.00. Following the sale, the director now owns 2,400 shares in the company, valued at approximately $135,312. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP H. Grahame Heather sold 3,300 shares of the business’s stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $60.55, for a total value of $199,815.00. Following the completion of the sale, the vice president now owns 22,501 shares in the company, valued at approximately $1,362,435.55. The disclosure for this sale can be found here.
Other large investors have recently added to or reduced their stakes in the company. US Bancorp DE boosted its stake in NorthWestern Corp. by 14.6% in the fourth quarter. US Bancorp DE now owns 19,017 shares of the company’s stock valued at $1,033,000 after buying an additional 2,428 shares during the last quarter. TD Asset Management Inc. boosted its stake in NorthWestern Corp. by 2.8% in the fourth quarter. TD Asset Management Inc. now owns 25,470 shares of the company’s stock valued at $1,382,000 after buying an additional 700 shares during the last quarter. FCA Corp TX boosted its stake in NorthWestern Corp. by 2.8% in the fourth quarter. FCA Corp TX now owns 41,408 shares of the company’s stock valued at $2,246,000 after buying an additional 1,139 shares during the last quarter. Comerica Bank boosted its stake in NorthWestern Corp. by 4.0% in the fourth quarter. Comerica Bank now owns 49,505 shares of the company’s stock valued at $2,614,000 after buying an additional 1,893 shares during the last quarter. Finally, Dean Investment Associates LLC boosted its stake in NorthWestern Corp. by 13.9% in the fourth quarter. Dean Investment Associates LLC now owns 54,470 shares of the company’s stock valued at $2,955,000 after buying an additional 6,630 shares during the last quarter.
NorthWestern Corporation, doing business as North-Western Energy, provides electricity and natural gas. The Company provides electricity and natural gas to over 701,000 customers in Montana, South Dakota and Nebraska. It generates and distributes electricity in South Dakota; distributes natural gas in South Dakota and Nebraska, and generates and distributes electricity and distributed natural gas in Montana.
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