NorthWestern Corp. (NWE) Raised to Buy at Williams Capital
Williams Capital upgraded shares of NorthWestern Corp. (NYSE:NWE) from a hold rating to a buy rating in a research report sent to investors on Monday. They currently have $58.00 price target on the stock.
Separately, Zacks Investment Research downgraded NorthWestern Corp. from a hold rating to a sell rating in a research note on Wednesday, June 29th.
NorthWestern Corp. (NYSE:NWE) opened at 54.63 on Monday. The firm’s 50-day moving average price is $57.56 and its 200 day moving average price is $59.22. The firm has a market cap of $2.64 billion, a PE ratio of 18.50 and a beta of 0.39. NorthWestern Corp. has a 52-week low of $51.27 and a 52-week high of $63.75.
NorthWestern Corp. (NYSE:NWE) last announced its earnings results on Friday, July 22nd. The company reported $0.65 earnings per share for the quarter, beating the 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. 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% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share. On average, equities analysts anticipate that NorthWestern Corp. will post $3.27 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were paid a $0.50 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $2.00 dividend on an annualized basis and a yield of 3.66%. NorthWestern Corp.’s dividend payout ratio (DPR) is 67.80%.
In other NorthWestern Corp. news, CFO Brian B. Bird sold 9,320 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were 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 this link. Also, CEO Robert C. Rowe sold 3,011 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $58.00, for a total transaction of $174,638.00. Following the completion of the transaction, the chief executive officer now directly owns 132,843 shares in the company, valued at approximately $7,704,894. The disclosure for this sale can be found here. 1.34% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of NWE. Nisa Investment Advisors LLC boosted its position in shares of NorthWestern Corp. by 9.9% in the third quarter. Nisa Investment Advisors LLC now owns 92,440 shares of the company’s stock worth $5,318,000 after buying an additional 8,350 shares in the last quarter. Capstone Asset Management Co. boosted its position in shares of NorthWestern Corp. by 0.8% in the third quarter. Capstone Asset Management Co. now owns 14,510 shares of the company’s stock worth $835,000 after buying an additional 110 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of NorthWestern Corp. during the third quarter worth about $213,000. Macquarie Group Ltd. boosted its position 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 worth $87,898,000 after buying an additional 128,647 shares in the last quarter. Finally, Mason Street Advisors LLC acquired a new position in shares of NorthWestern Corp. during the second quarter worth about $594,000. 99.14% of the stock is currently owned by hedge funds and other institutional investors.
NorthWestern Corp. Company Profile
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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