NorthWestern Corp. (NWE) CEO Sells $174,638.00 in Stock
NorthWestern Corp. (NYSE:NWE) CEO Robert C. Rowe sold 3,011 shares of the business’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $58.00, for a total value of $174,638.00. Following the transaction, the chief executive officer now owns 130,960 shares in the company, valued at approximately $7,595,680. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of NorthWestern Corp. (NYSE:NWE) opened at 56.10 on Thursday. NorthWestern Corp. has a 52-week low of $51.95 and a 52-week high of $63.75. The company has a market capitalization of $2.71 billion, a PE ratio of 16.71 and a beta of 0.34. The firm’s 50-day moving average price is $56.31 and its 200 day moving average price is $58.54.
NorthWestern Corp. (NYSE:NWE) last released its quarterly earnings data on Thursday, October 20th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.58 by $0.10. NorthWestern Corp. had a net margin of 13.04% and a return on equity of 9.94%. The business earned $301 million during the quarter, compared to the consensus estimate of $282.30 million. During the same quarter in the prior year, the firm earned $0.51 EPS. The business’s revenue was up 10.4% on a year-over-year basis. On average, equities analysts forecast that NorthWestern Corp. will post $3.20 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Tuesday, December 13th. NorthWestern Corp.’s dividend payout ratio (DPR) is presently 59.52%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NWE. Societe Generale bought a new position in NorthWestern Corp. during the second quarter valued at approximately $104,000. LS Investment Advisors LLC increased its position 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 last quarter. Assetmark Inc. increased its position in shares of NorthWestern Corp. by 1.6% in the third quarter. Assetmark Inc. now owns 1,887 shares of the company’s stock worth $109,000 after buying an additional 29 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of NorthWestern Corp. during the third quarter worth approximately $118,000. Finally, Public Employees Retirement System of Ohio increased its position in shares of 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 during the last quarter. 97.31% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on the company. Zacks Investment Research downgraded NorthWestern Corp. from a “buy” rating to a “hold” rating in a report on Wednesday. Mizuho reduced their price target on NorthWestern Corp. from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, October 20th. Finally, Williams Capital upgraded NorthWestern Corp. from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Monday, October 10th.
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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