NorthWestern Corp (NYSE:NWE) announced a quarterly dividend on Tuesday, October 23rd, Zacks reports. Shareholders of record on Friday, December 14th will be paid a dividend of 0.55 per share by the utilities provider on Monday, December 31st. This represents a $2.20 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Thursday, December 13th.
NorthWestern has increased its dividend payment by an average of 9.5% per year over the last three years and has raised its dividend every year for the last 9 years. NorthWestern has a payout ratio of 63.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect NorthWestern to earn $3.43 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 64.1%.
NWE opened at $64.28 on Friday. NorthWestern has a one year low of $50.01 and a one year high of $65.74. The stock has a market capitalization of $3.22 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 8.32 and a beta of 0.12. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.07.
NorthWestern (NYSE:NWE) last released its quarterly earnings data on Tuesday, October 23rd. The utilities provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.14). NorthWestern had a net margin of 14.53% and a return on equity of 9.64%. The business had revenue of $279.87 million during the quarter, compared to analysts’ expectations of $312.21 million. During the same quarter in the previous year, the company posted $0.74 EPS. The company’s revenue was down 9.7% compared to the same quarter last year. On average, research analysts expect that NorthWestern will post 3.4 earnings per share for the current year.
In related news, VP H. Grahame Heather sold 1,900 shares of the company’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $64.15, for a total value of $121,885.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jan Robert Horsfall sold 900 shares of the company’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $60.95, for a total value of $54,855.00. Following the completion of the sale, the director now directly owns 4,255 shares of the company’s stock, valued at $259,342.25. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.
A number of analysts recently issued reports on the company. Zacks Investment Research raised NorthWestern from a “sell” rating to a “hold” rating in a research report on Wednesday. ValuEngine raised NorthWestern from a “hold” rating to a “buy” rating in a research report on Tuesday, November 13th. Wells Fargo & Co upped their target price on NorthWestern from $59.00 to $61.00 and gave the company a “market perform” rating in a research report on Monday, September 17th. Finally, Barclays set a $62.00 target price on NorthWestern and gave the company a “hold” rating in a research report on Saturday, November 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $61.50.
NorthWestern Company Profile
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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