NorthWestern Corp. (NWE) Sees Strong Trading Volume
NorthWestern Corp. (NYSE:NWE) saw strong trading volume on Wednesday . 241,332 shares were traded during mid-day trading, an increase of 24% from the previous session’s volume of 195,236 shares.The stock last traded at $59.24 and had previously closed at $58.59.
Separately, Zacks Investment Research cut NorthWestern Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th.
The firm has a 50-day moving average of $58.61 and a 200-day moving average of $59.63. The firm has a market capitalization of $2.90 billion, a PE ratio of 20.30 and a beta of 0.43.
NorthWestern Corp. (NYSE:NWE) last released its earnings results on Friday, July 22nd. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.12. The firm had revenue of $293.10 million for the quarter, compared to analysts’ expectations of $320.68 million. NorthWestern Corp. had a return on equity of 9.56% and a net margin of 11.64%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. On average, equities analysts expect that NorthWestern Corp. will post $3.27 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $2.00 annualized dividend and a yield of 3.34%. NorthWestern Corp.’s dividend payout ratio (DPR) is currently 67.80%.
In related news, CFO Brian B. Bird sold 9,320 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $60.95, for a total value of $568,054.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Curtis T. Pohl sold 2,650 shares of the stock in a transaction that occurred on Wednesday, July 27th. The stock was 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. 1.34% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in NWE. BlackRock Fund Advisors boosted its stake in shares of NorthWestern Corp. by 4.9% in the second quarter. BlackRock Fund Advisors now owns 5,981,454 shares of the company’s stock valued at $377,250,000 after buying an additional 279,392 shares during the period. Vanguard Group Inc. boosted its stake in shares of NorthWestern Corp. by 4.9% in the second quarter. Vanguard Group Inc. now owns 4,136,896 shares of the company’s stock valued at $260,914,000 after buying an additional 193,484 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of NorthWestern Corp. by 4.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,393,912 shares of the company’s stock valued at $86,074,000 after buying an additional 64,948 shares during the period. Macquarie Group Ltd. boosted its stake in shares of NorthWestern Corp. by 10.2% in the second quarter. Macquarie Group Ltd. now owns 1,393,659 shares of the company’s stock valued at $87,898,000 after buying an additional 128,647 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of NorthWestern Corp. by 37.9% in the second quarter. American Century Companies Inc. now owns 1,341,395 shares of the company’s stock valued at $84,602,000 after buying an additional 368,598 shares during the period. 99.14% of the stock is currently owned by institutional investors.
About NorthWestern Corp.
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.
Receive News & Ratings for NorthWestern Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NorthWestern Corp. and related companies with MarketBeat.com's FREE daily email newsletter.