Traders Sell NorthWestern Corp. (NWE) on Strength After Insider Selling
Traders sold shares of NorthWestern Corp. (NYSE:NWE) on strength during trading on Thursday after an insider sold shares in the company. $10.20 million flowed into the stock on the tick-up and $202.89 million flowed out of the stock on the tick-down, for a money net flow of $192.69 million out of the stock. Of all stocks tracked, NorthWestern Corp. had the 0th highest net out-flow for the day. NorthWestern Corp. traded up $0.16 for the day and closed at $60.10Specifically, CEO Robert C. Rowe sold 3,011 shares of NorthWestern Corp. stock in a transaction on Monday, September 19th. The stock was sold at an average price of $58.00, for a total value of $174,638.00. Following the sale, the chief executive officer now owns 132,843 shares in the company, valued at $7,704,894. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian B. Bird sold 9,320 shares of NorthWestern Corp. stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $60.95, for a total value of $568,054.00. The disclosure for this sale can be found here. Corporate insiders own 1.34% of the company’s stock.
Separately, Zacks Investment Research upgraded NorthWestern Corp. from a “sell” rating to a “hold” rating in a research report on Friday, June 17th.
The stock’s 50 day moving average is $58.61 and its 200-day moving average is $59.63. The stock has a market cap of $2.90 billion, a PE ratio of 20.35 and a beta of 0.43.
NorthWestern Corp. (NYSE:NWE) last released its quarterly earnings results on Friday, July 22nd. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. The business 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 revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 EPS. Analysts forecast that NorthWestern Corp. will post $3.27 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Tuesday, September 13th. NorthWestern Corp.’s dividend payout ratio is currently 67.80%.
Large investors have recently added to or reduced their stakes in the company. Societe Generale purchased a new stake in NorthWestern Corp. during the second quarter worth $104,000. LS Investment Advisors LLC boosted its stake in 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 in the last quarter. Assetmark Inc. boosted its stake in NorthWestern Corp. by 129.1% in the second quarter. Assetmark Inc. now owns 1,858 shares of the company’s stock worth $117,000 after buying an additional 1,047 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in NorthWestern Corp. by 2.3% in the second quarter. Public Employees Retirement System of Ohio now owns 2,599 shares of the company’s stock worth $164,000 after buying an additional 58 shares in the last quarter. Finally, BlackRock Japan Co. Ltd purchased a new stake in NorthWestern Corp. during the first quarter worth $167,000. Institutional investors and hedge funds own 99.14% 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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