NorthWestern Corp. (NWE) Trading Down 1%
NorthWestern Corp. (NYSE:NWE)’s share price traded down 1% during trading on Monday . The stock traded as low as $58.95 and last traded at $58.95, with a volume of 86,006 shares changing hands. The stock had previously closed at $59.57.
Separately, Zacks Investment Research raised NorthWestern Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th.
The firm’s 50 day moving average is $61.07 and its 200-day moving average is $59.64. The company has a market cap of $2.83 billion and a P/E ratio of 19.81.
NorthWestern Corp. (NYSE:NWE) last announced its quarterly earnings data on Friday, July 22nd. The company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.12. The company earned $293.10 million during the quarter, compared to the consensus estimate of $320.68 million. During the same quarter in the previous year, the business earned $0.64 EPS. NorthWestern Corp.’s revenue was up 8.3% on a year-over-year basis. Equities research analysts predict that NorthWestern Corp. will post $3.27 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Tuesday, September 13th.
In other news, CEO Robert C. Rowe sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $59.32, for a total value of $415,240.00. Following the completion of the transaction, the chief executive officer now owns 134,815 shares in the company, valued at approximately $7,997,225.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Curtis T. Pohl sold 2,650 shares of the firm’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $60.48, for a total value of $160,272.00. The disclosure for this sale can be found here.
Several institutional investors recently made changes to their positions in the stock. New York State Common Retirement Fund boosted its position in shares of NorthWestern Corp. by 0.5% in the fourth quarter. New York State Common Retirement Fund now owns 165,150 shares of the company’s stock valued at $8,959,000 after buying an additional 800 shares during the last quarter. Principal Financial Group Inc. boosted its position in NorthWestern Corp. by 6.7% in the fourth quarter. Principal Financial Group Inc. now owns 326,351 shares of the company’s stock worth $17,704,000 after buying an additional 20,604 shares during the last quarter. US Bancorp DE boosted its position in NorthWestern Corp. by 14.6% in the fourth quarter. US Bancorp DE now owns 19,017 shares of the company’s stock worth $1,033,000 after buying an additional 2,428 shares during the last quarter. Dean Investment Associates LLC boosted its position in NorthWestern Corp. by 13.9% in the fourth quarter. Dean Investment Associates LLC now owns 54,470 shares of the company’s stock worth $2,955,000 after buying an additional 6,630 shares during the last quarter. Finally, State of Tennessee Treasury Department acquired a new position in NorthWestern Corp. during the fourth quarter worth approximately $1,991,000.
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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