Parallel Advisors LLC Raises Holdings in NorthWestern Corp (NWE)
Parallel Advisors LLC raised its position in NorthWestern Corp (NYSE:NWE) by 32.0% in the first quarter, Holdings Channel reports. The institutional investor owned 754 shares of the utilities provider’s stock after purchasing an additional 183 shares during the period. Parallel Advisors LLC’s holdings in NorthWestern were worth $53,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. raised its position in NorthWestern by 5.0% in the fourth quarter. BlackRock Inc. now owns 7,325,060 shares of the utilities provider’s stock worth $435,402,000 after acquiring an additional 351,359 shares in the last quarter. JPMorgan Chase & Co. raised its position in NorthWestern by 3.1% in the third quarter. JPMorgan Chase & Co. now owns 2,528,462 shares of the utilities provider’s stock worth $148,319,000 after acquiring an additional 76,651 shares in the last quarter. Macquarie Group Ltd. raised its position in NorthWestern by 6.5% in the fourth quarter. Macquarie Group Ltd. now owns 1,504,219 shares of the utilities provider’s stock worth $89,411,000 after acquiring an additional 91,298 shares in the last quarter. Northern Trust Corp raised its position in NorthWestern by 0.4% in the fourth quarter. Northern Trust Corp now owns 1,382,029 shares of the utilities provider’s stock worth $82,148,000 after acquiring an additional 5,360 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in NorthWestern by 170.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,311,111 shares of the utilities provider’s stock worth $77,932,000 after acquiring an additional 827,202 shares in the last quarter. Institutional investors own 96.79% of the company’s stock.
Several equities analysts recently weighed in on the company. Zacks Investment Research upgraded NorthWestern from a “hold” rating to a “strong-buy” rating and set a $80.00 target price on the stock in a research report on Wednesday, April 17th. Williams Capital reiterated a “sell” rating on shares of NorthWestern in a research report on Monday, March 18th. Barclays downgraded NorthWestern from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $62.00 to $65.00 in a research report on Wednesday, March 20th. Bank of America reiterated an “underperform” rating and set a $55.00 target price on shares of NorthWestern in a research report on Thursday, March 14th. Finally, Credit Suisse Group reduced their target price on NorthWestern from $60.00 to $56.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 13th. Four analysts have rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $64.00.
NorthWestern (NYSE:NWE) last released its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.05. The company had revenue of $384.22 million for the quarter. NorthWestern had a return on equity of 9.80% and a net margin of 17.11%. On average, equities analysts forecast that NorthWestern Corp will post 3.38 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.575 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 3.23%. NorthWestern’s dividend payout ratio (DPR) is 67.85%.
In other news, VP Michael R. Cashell sold 1,656 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $67.85, for a total value of $112,359.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Curtis T. Pohl sold 2,200 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $65.54, for a total value of $144,188.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,156 shares of company stock worth $411,430. Company insiders own 1.17% of the company’s stock.
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NorthWestern Corporation, doing business as NorthWestern Energy, provides electricity and natural gas to residential, commercial, and industrial customers. The company operates through Electric Operations and Natural Gas Operations segments. It generates, transmits, and distributes electricity; and produces, stores, transmits, and distributes natural gas, as well as owns municipal franchises to provide natural gas service in the communities.
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