Equities research analysts at Bank of America Corporation initiated coverage on shares of NorthWestern Corporation (NYSE:NWE) in a research note issued on Tuesday. The brokerage set an “underperform” rating and a $54.00 price target on the utilities provider’s stock. Bank of America Corporation’s target price points to a potential downside of 8.27% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. Williams Capital cut shares of NorthWestern Corporation from a “hold” rating to a “sell” rating and dropped their price target for the company from $64.00 to $52.00 in a research note on Monday, July 31st. BidaskClub cut shares of NorthWestern Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Credit Suisse Group cut shares of NorthWestern Corporation from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $62.00 to $60.00 in a research report on Monday, July 24th. Zacks Investment Research cut shares of NorthWestern Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, July 29th. Finally, KeyCorp reaffirmed a “hold” rating on shares of NorthWestern Corporation in a research report on Friday. Four research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The stock currently has an average rating of “Sell” and a consensus price target of $58.50.

NorthWestern Corporation (NYSE NWE) traded down 0.76% on Tuesday, reaching $58.42. The company had a trading volume of 169,449 shares. NorthWestern Corporation has a 1-year low of $54.06 and a 1-year high of $63.86. The company’s 50-day moving average price is $58.47 and its 200 day moving average price is $60.11. The firm has a market capitalization of $2.83 billion, a P/E ratio of 16.94 and a beta of 0.36.

NorthWestern Corporation (NYSE:NWE) last posted its quarterly earnings results on Tuesday, July 25th. The utilities provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.15). NorthWestern Corporation had a net margin of 13.17% and a return on equity of 9.31%. The firm had revenue of $283.86 million during the quarter, compared to analysts’ expectations of $302.42 million. During the same period last year, the company earned $0.65 EPS. The business’s quarterly revenue was down 3.2% on a year-over-year basis. On average, equities analysts forecast that NorthWestern Corporation will post $3.39 EPS for the current year.

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In other NorthWestern Corporation news, CEO Robert C. Rowe sold 3,626 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $60.43, for a total transaction of $219,119.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.33% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA lifted its holdings in NorthWestern Corporation by 110.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 26,364 shares of the utilities provider’s stock worth $1,609,000 after buying an additional 13,847 shares in the last quarter. State Street Corp raised its holdings in shares of NorthWestern Corporation by 4.3% in the 1st quarter. State Street Corp now owns 1,681,545 shares of the utilities provider’s stock valued at $98,705,000 after purchasing an additional 69,473 shares in the last quarter. Federated Investors Inc. PA raised its holdings in shares of NorthWestern Corporation by 6.5% in the 2nd quarter. Federated Investors Inc. PA now owns 130,224 shares of the utilities provider’s stock valued at $7,946,000 after purchasing an additional 7,926 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of NorthWestern Corporation by 9.1% in the 2nd quarter. Legal & General Group Plc now owns 185,983 shares of the utilities provider’s stock valued at $11,352,000 after purchasing an additional 15,472 shares in the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of NorthWestern Corporation in the 2nd quarter valued at $1,257,000. Institutional investors own 98.34% of the company’s stock.

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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