NorthWestern Corp. (NWE) Upgraded to “Buy” at Williams Capital
NorthWestern Corp. (NYSE:NWE) was upgraded by stock analysts at Williams Capital from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage presently has a $58.00 price target on the stock. Williams Capital’s target price points to a potential upside of 7.23% from the stock’s current price.
Separately, Zacks Investment Research upgraded shares of NorthWestern Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th.
NorthWestern Corp. (NYSE:NWE) opened at 54.09 on Monday. The stock’s 50 day moving average is $57.95 and its 200-day moving average is $59.35. NorthWestern Corp. has a 52-week low of $51.27 and a 52-week high of $63.75. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 18.32 and a beta of 0.39.
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NorthWestern Corp. (NYSE:NWE) last issued its earnings results on Friday, July 22nd. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.12. The firm had revenue of $293.10 million for the quarter, compared to the consensus estimate of $320.68 million. NorthWestern Corp. had a net margin of 11.64% and a return on equity of 9.56%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Equities research analysts anticipate that NorthWestern Corp. will post $3.27 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $2.00 annualized dividend and a yield of 3.70%. NorthWestern Corp.’s payout ratio is presently 67.80%.
In other news, CFO Brian B. Bird sold 9,320 shares of the stock in a transaction on 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 Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert C. Rowe sold 3,011 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 132,843 shares of the company’s stock, valued at $7,704,894. The disclosure for this sale can be found here. 1.34% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new stake in shares of NorthWestern Corp. during the first quarter worth about $1,470,000. Kennedy Capital Management Inc. boosted its position in NorthWestern Corp. by 23.1% in the first quarter. Kennedy Capital Management Inc. now owns 97,297 shares of the company’s stock valued at $6,008,000 after buying an additional 18,277 shares during the last quarter. Geode Capital Management LLC boosted its position in NorthWestern Corp. by 2.1% in the first quarter. Geode Capital Management LLC now owns 309,678 shares of the company’s stock valued at $19,122,000 after buying an additional 6,352 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in NorthWestern Corp. by 4.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,393,912 shares of the company’s stock valued at $86,074,000 after buying an additional 64,948 shares during the last quarter. Finally, UBS Group AG boosted its position in NorthWestern Corp. by 57.9% in the first quarter. UBS Group AG now owns 9,026 shares of the company’s stock valued at $557,000 after buying an additional 3,311 shares during the last quarter. 99.14% of the stock is owned by hedge funds and other institutional investors.
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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