Conning Inc. Continues to Hold Stake in NorthWestern Corp. (NWE)
Conning Inc. held its position in NorthWestern Corp. (NYSE:NWE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,997 shares of the company’s stock at the end of the second quarter. Conning Inc. owned approximately 0.18% of NorthWestern Corp. worth $5,424,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. LS Investment Advisors LLC boosted its stake in shares of NorthWestern Corp. by 3.5% in the second quarter. LS Investment Advisors LLC now owns 1,698 shares of the company’s stock worth $107,000 after buying an additional 58 shares during the period. BlackRock Japan Co. Ltd purchased a new stake in shares of NorthWestern Corp. during the first quarter worth about $167,000. Boothbay Fund Management LLC purchased a new stake in shares of NorthWestern Corp. during the first quarter worth about $207,000. Genesee Valley Trust Co. purchased a new stake in shares of NorthWestern Corp. during the second quarter worth about $209,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of NorthWestern Corp. by 56.1% in the first quarter. Envestnet Asset Management Inc. now owns 3,938 shares of the company’s stock worth $243,000 after buying an additional 1,416 shares during the period. Institutional investors and hedge funds own 99.14% of the company’s stock.
Shares of NorthWestern Corp. (NYSE:NWE) traded up 0.27% during mid-day trading on Thursday, hitting $60.10. 7,326,614 shares of the stock were exchanged. The company has a market cap of $2.90 billion, a P/E ratio of 20.35 and a beta of 0.43. NorthWestern Corp. has a 52-week low of $51.13 and a 52-week high of $63.75. The stock’s 50-day moving average price is $58.61 and its 200-day moving average price is $59.63.
NorthWestern Corp. (NYSE:NWE) last released its earnings results on Friday, July 22nd. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.12. The company had revenue of $293.10 million for the quarter, compared to the consensus estimate of $320.68 million. NorthWestern Corp. had a net margin of 11.64% and a return on equity of 9.56%. NorthWestern Corp.’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. Equities research analysts anticipate that NorthWestern Corp. will post $3.27 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.33%. The ex-dividend date is Tuesday, September 13th. NorthWestern Corp.’s dividend payout ratio is presently 67.80%.
Separately, Zacks Investment Research cut shares of NorthWestern Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, July 21st.
In other NorthWestern Corp. news, CEO Robert C. Rowe sold 3,011 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $58.00, for a total transaction of $174,638.00. Following the sale, the chief executive officer now owns 132,843 shares of the company’s stock, valued at approximately $7,704,894. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian B. Bird sold 9,320 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $60.95, for a total transaction of $568,054.00. The disclosure for this sale can be found here. Company insiders own 1.34% of the company’s stock.
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.
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