NorthWestern Corp. to Post Q3 2016 Earnings of $0.54 Per Share, KeyCorp Forecasts (NWE)
NorthWestern Corp. (NYSE:NWE) – Stock analysts at KeyCorp issued their Q3 2016 earnings estimates for shares of NorthWestern Corp. in a research report issued to clients and investors on Monday. KeyCorp analyst P. Ridzon anticipates that the firm will earn $0.54 per share for the quarter.
NorthWestern Corp. (NYSE:NWE) last issued its quarterly earnings results on Friday, July 22nd. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. The business earned $293.10 million during the quarter, compared to analysts’ expectations of $320.68 million. NorthWestern Corp. had a return on equity of 9.56% and a net margin of 11.64%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 earnings per share.
A number of other research firms have also recently weighed in on NWE. Zacks Investment Research raised NorthWestern Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Williams Capital raised NorthWestern Corp. from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Monday, October 10th.
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Shares of NorthWestern Corp. (NYSE:NWE) traded down 0.34% during mid-day trading on Wednesday, reaching $55.91. The company’s stock had a trading volume of 97,068 shares. NorthWestern Corp. has a 12-month low of $51.27 and a 12-month high of $63.75. The firm has a market cap of $2.70 billion, a P/E ratio of 18.93 and a beta of 0.39. The firm’s 50-day moving average price is $57.23 and its 200 day moving average price is $59.03.
A number of hedge funds have recently modified their holdings of the company. Prudential Financial Inc. boosted its stake in shares of NorthWestern Corp. by 1.7% in the second quarter. Prudential Financial Inc. now owns 127,259 shares of the company’s stock worth $8,026,000 after buying an additional 2,120 shares in the last quarter. State Street Corp boosted its stake in shares of NorthWestern Corp. by 0.4% in the first quarter. State Street Corp now owns 1,042,098 shares of the company’s stock worth $64,354,000 after buying an additional 4,415 shares in the last quarter. Magnetar Financial LLC purchased a new stake in shares of NorthWestern Corp. during the first quarter worth approximately $408,000. Genesee Valley Trust Co. purchased a new stake in shares of NorthWestern Corp. during the second quarter worth approximately $209,000. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of NorthWestern Corp. by 0.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 64,802 shares of the company’s stock worth $4,002,000 after buying an additional 219 shares in the last quarter. 99.13% of the stock is owned by institutional investors.
In other NorthWestern Corp. news, CFO Brian B. Bird sold 9,320 shares of NorthWestern Corp. stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $60.95, for a total transaction of $568,054.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert C. Rowe sold 3,011 shares of NorthWestern Corp. stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $58.00, for a total value of $174,638.00. Following the sale, the chief executive officer now directly owns 132,843 shares of the company’s stock, valued at approximately $7,704,894. The disclosure for this sale can be found here. 1.34% of the stock is owned by insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.57%. NorthWestern Corp.’s payout ratio is 67.80%.
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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