NorthWestern Corp. (NWE) Upgraded to Buy at Williams Capital
NorthWestern Corp. (NYSE:NWE) was upgraded by analysts at Williams Capital from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The brokerage presently has a $58.00 price objective on the stock. Williams Capital’s price objective indicates a potential upside of 7.23% from the company’s previous close.
Separately, Zacks Investment Research cut shares of NorthWestern Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, October 5th.
Shares of NorthWestern Corp. (NYSE:NWE) opened at 54.09 on Monday. The company has a market capitalization of $2.61 billion, a PE ratio of 18.32 and a beta of 0.39. The stock’s 50 day moving average is $57.95 and its 200 day moving average is $59.35. NorthWestern Corp. has a 1-year low of $51.27 and a 1-year high of $63.75.
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NorthWestern Corp. (NYSE:NWE) last issued its quarterly earnings data on Friday, July 22nd. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.12. NorthWestern Corp. had a net margin of 11.64% and a return on equity of 9.56%. The business earned $293.10 million during the quarter, compared to analysts’ expectations of $320.68 million. During the same quarter in the previous year, the company earned $0.64 EPS. The business’s revenue was up 8.3% on a year-over-year basis. On average, equities research analysts anticipate that NorthWestern Corp. will post $3.27 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Tuesday, September 13th. NorthWestern Corp.’s payout ratio is presently 67.80%.
In other news, VP Curtis T. Pohl sold 2,650 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $60.48, for a total value of $160,272.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert C. Rowe sold 3,011 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $58.00, for a total transaction of $174,638.00. Following the completion of the transaction, the chief executive officer now 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 insiders.
Several institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. boosted its position in shares of NorthWestern Corp. by 10.2% in the second quarter. Macquarie Group Ltd. now owns 1,393,659 shares of the company’s stock valued at $87,898,000 after buying an additional 128,647 shares during the last quarter. Mason Street Advisors LLC bought a new position in NorthWestern Corp. during the second quarter worth about $594,000. Public Employees Retirement System of Ohio boosted its position in 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 in the last quarter. Personal Capital Advisors Corp boosted its position in NorthWestern Corp. by 12.7% in the second quarter. Personal Capital Advisors Corp now owns 325,900 shares of the company’s stock worth $20,555,000 after buying an additional 36,792 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in NorthWestern Corp. by 4.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 237,048 shares of the company’s stock worth $14,951,000 after buying an additional 11,132 shares in the last quarter. Institutional investors own 99.14% of the company’s stock.
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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