Ramsey Quantitative Systems Takes Position in NorthWestern Corporation (NWE)
Ramsey Quantitative Systems acquired a new stake in shares of NorthWestern Corporation (NYSE:NWE) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,204 shares of the utilities provider’s stock, valued at approximately $318,000.
Other large investors also recently made changes to their positions in the company. State Street Corp grew its stake in shares of NorthWestern Corporation by 4.3% during the 1st quarter. State Street Corp now owns 1,681,545 shares of the utilities provider’s stock valued at $98,705,000 after acquiring an additional 69,473 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of NorthWestern Corporation by 110.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 26,364 shares of the utilities provider’s stock valued at $1,609,000 after acquiring an additional 13,847 shares during the period. Legal & General Group Plc grew its stake in shares of NorthWestern Corporation by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 185,983 shares of the utilities provider’s stock valued at $11,352,000 after acquiring an additional 15,472 shares during the period. Prudential Financial Inc. grew its stake in shares of NorthWestern Corporation by 119.2% during the 2nd quarter. Prudential Financial Inc. now owns 609,981 shares of the utilities provider’s stock valued at $37,221,000 after acquiring an additional 331,703 shares during the period. Finally, Tudor Investment Corp ET AL grew its stake in shares of NorthWestern Corporation by 14.3% during the 1st quarter. Tudor Investment Corp ET AL now owns 9,600 shares of the utilities provider’s stock valued at $564,000 after acquiring an additional 1,200 shares during the period. Institutional investors own 98.33% of the company’s stock.
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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.33% of the stock is currently owned by company insiders.
A number of brokerages recently issued reports on NWE. Zacks Investment Research upgraded NorthWestern Corporation from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Friday, July 7th. Credit Suisse Group downgraded NorthWestern Corporation from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $62.00 to $60.00 in a research note on Monday, July 24th. Williams Capital boosted their price objective on NorthWestern Corporation from $61.00 to $64.00 and gave the company a “hold” rating in a research note on Wednesday, July 5th. Finally, BidaskClub downgraded NorthWestern Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The company has an average rating of “Sell” and an average price target of $60.00.
NorthWestern Corporation (NYSE:NWE) last posted its earnings results on Tuesday, July 25th. The utilities provider reported $0.47 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.15). The company had revenue of $283.86 million for the quarter, compared to analyst estimates of $302.42 million. NorthWestern Corporation had a return on equity of 9.31% and a net margin of 13.17%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same period last year, the business earned $0.65 earnings per share.
The firm also recently disclosed 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 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Thursday, September 14th. NorthWestern Corporation’s payout ratio is currently 60.34%.
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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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