Bank of New York Mellon Corp Reduces Stock Position in NorthWestern Corporation $NWE

Bank of New York Mellon Corp trimmed its holdings in shares of NorthWestern Corporation (NASDAQ:NWE) by 2.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 754,559 shares of the company’s stock after selling 20,361 shares during the period. Bank of New York Mellon Corp’s holdings in NorthWestern were worth $49,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Allworth Financial LP lifted its stake in NorthWestern by 263.3% during the third quarter. Allworth Financial LP now owns 436 shares of the company’s stock worth $26,000 after purchasing an additional 316 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in NorthWestern by 3,221.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 465 shares of the company’s stock worth $27,000 after purchasing an additional 451 shares in the last quarter. IFP Advisors Inc raised its holdings in NorthWestern by 142.0% during the fourth quarter. IFP Advisors Inc now owns 455 shares of the company’s stock worth $29,000 after purchasing an additional 267 shares in the last quarter. PenderFund Capital Management Ltd. purchased a new stake in shares of NorthWestern during the 3rd quarter worth approximately $37,000. Finally, Daiwa Securities Group Inc. lifted its position in shares of NorthWestern by 34.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 845 shares of the company’s stock worth $43,000 after buying an additional 216 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NWE has been the topic of a number of recent analyst reports. LADENBURG THALM/SH SH raised shares of NorthWestern from a “neutral” rating to a “buy” rating and increased their target price for the company from $56.00 to $75.50 in a research report on Wednesday, April 1st. Weiss Ratings raised shares of NorthWestern from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 15th. Barclays raised their price objective on NorthWestern from $62.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Wall Street Zen raised NorthWestern to a “hold” rating in a research report on Saturday, April 25th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and set a $54.00 price target on shares of NorthWestern in a research report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $70.10.

NorthWestern Trading Up 0.4%

Shares of NWE stock opened at $72.86 on Friday. The firm’s 50-day simple moving average is $71.08 and its 200-day simple moving average is $69.63. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.70 and a quick ratio of 0.52. NorthWestern Corporation has a 1-year low of $51.92 and a 1-year high of $75.18. The firm has a market cap of $4.48 billion, a P/E ratio of 26.79, a PEG ratio of 3.84 and a beta of 0.34.

NorthWestern (NASDAQ:NWE) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.29 by $0.02. The firm had revenue of $516.60 million during the quarter. NorthWestern had a net margin of 10.21% and a return on equity of 7.80%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the company posted $1.22 EPS. As a group, equities analysts forecast that NorthWestern Corporation will post 3.75 EPS for the current year.

NorthWestern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $0.67 dividend. The ex-dividend date was Monday, June 15th. This represents a $2.68 dividend on an annualized basis and a yield of 3.7%. NorthWestern’s dividend payout ratio (DPR) is presently 98.53%.

NorthWestern Profile

NorthWestern Corporation (NASDAQ: NWE) is a regulated energy company that delivers electricity and natural gas to residential, commercial and industrial customers. Through its Electric Operations and Gas Operations segments, the company operates an extensive network of distribution lines, substations and pipelines. NorthWestern’s services encompass the delivery of power sourced from regional transmission systems and the procurement, storage and distribution of natural gas to end users.

Electric delivery services include the management of distribution infrastructure, customer metering and system reliability programs.