NorthWestern Corporation (NWE) Position Held by South Dakota Investment Council
South Dakota Investment Council continued to hold its stake in shares of NorthWestern Corporation (NYSE:NWE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,400 shares of the utilities provider’s stock at the close of the second quarter. South Dakota Investment Council’s holdings in NorthWestern Corporation were worth $574,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in NWE. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of NorthWestern Corporation by 25.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,983 shares of the utilities provider’s stock valued at $116,000 after acquiring an additional 397 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of NorthWestern Corporation during the 2nd quarter valued at about $155,000. North Star Investment Management Corp. increased its stake in shares of NorthWestern Corporation by 100.4% during the 2nd quarter. North Star Investment Management Corp. now owns 3,295 shares of the utilities provider’s stock valued at $201,000 after acquiring an additional 1,651 shares during the last quarter. Capstone Asset Management Co. increased its stake in shares of NorthWestern Corporation by 8.2% during the 1st quarter. Capstone Asset Management Co. now owns 3,830 shares of the utilities provider’s stock valued at $225,000 after acquiring an additional 290 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of NorthWestern Corporation by 2.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,956 shares of the utilities provider’s stock valued at $232,000 after acquiring an additional 88 shares during the last quarter. 98.40% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on NWE shares. Zacks Investment Research downgraded shares of NorthWestern Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Credit Suisse Group cut NorthWestern Corporation from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $62.00 to $60.00 in a report on Monday, July 24th. Finally, BidaskClub upgraded NorthWestern Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The stock presently has an average rating of “Sell” and a consensus price target of $60.00.
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NorthWestern Corporation (NWE) opened at 58.96 on Friday. NorthWestern Corporation has a 12-month low of $53.85 and a 12-month high of $63.86. The stock has a market cap of $2.86 billion, a PE ratio of 17.09 and a beta of 0.36. The firm has a 50-day moving average price of $59.96 and a 200-day moving average price of $60.12.
NorthWestern Corporation (NYSE:NWE) last released its earnings results on Tuesday, July 25th. The utilities provider reported $0.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.15). The business had revenue of $283.86 million during the quarter, compared to analyst estimates of $302.42 million. NorthWestern Corporation had a net margin of 13.17% and a return on equity of 9.31%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business earned $0.65 EPS. Analysts forecast that NorthWestern Corporation will post $3.39 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend is Thursday, September 14th. NorthWestern Corporation’s dividend payout ratio (DPR) is currently 60.34%.
In other NorthWestern Corporation news, CEO Robert C. Rowe sold 3,626 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $60.43, for a total value of $219,119.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.33% of the company’s stock.
About NorthWestern Corporation
NorthWestern Corporation, doing business as North-Western Energy, provides electricity and natural gas. The Company’s segments are Electric operations, Natural gas operations and All other. As of December 31, 2016, the Company provided electricity and natural gas to approximately 709,600 customers in Montana, South Dakota and Nebraska.
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