NorthWestern Corporation (NYSE:NWE) – Equities research analysts at KeyCorp increased their Q2 2017 earnings per share (EPS) estimates for shares of NorthWestern Corporation in a research note issued on Monday. KeyCorp analyst P. Ridzon now anticipates that the utilities provider will post earnings per share of $0.63 for the quarter, up from their previous estimate of $0.60. KeyCorp also issued estimates for NorthWestern Corporation’s FY2018 earnings at $3.50 EPS.
NorthWestern Corporation (NYSE:NWE) last posted its earnings results on Tuesday, July 25th. The utilities provider reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.15. NorthWestern Corporation had a return on equity of 9.95% and a net margin of 14.14%. The firm had revenue of $283.86 million for the quarter, compared to analyst estimates of $302.42 million. During the same period in the previous year, the company posted $0.65 EPS. NorthWestern Corporation’s revenue was down 3.2% on a year-over-year basis.
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NWE has been the subject of a number of other research reports. Zacks Investment Research downgraded NorthWestern Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Williams Capital boosted their price target on NorthWestern Corporation from $58.00 to $61.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Credit Suisse Group downgraded NorthWestern Corporation from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $62.00 to $60.00 in a research report on Monday. Finally, BidaskClub downgraded NorthWestern Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $63.00.
NorthWestern Corporation (NYSE:NWE) opened at 60.27 on Wednesday. NorthWestern Corporation has a 1-year low of $53.85 and a 1-year high of $63.86. The company’s 50-day moving average price is $61.64 and its 200 day moving average price is $59.31. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 16.11 and a beta of 0.38.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Tuesday, June 13th. NorthWestern Corporation’s dividend payout ratio is presently 55.70%.
In other NorthWestern Corporation news, CEO Robert C. Rowe sold 7,252 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $60.89, for a total transaction of $441,574.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Patrick R. Corcoran sold 7,487 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $62.72, for a total value of $469,584.64. Following the transaction, the vice president now owns 13,259 shares in the company, valued at approximately $831,604.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,171 shares of company stock worth $1,116,495. 1.33% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of NorthWestern Corporation by 10,516.0% in the first quarter. BlackRock Inc. now owns 9,214,512 shares of the utilities provider’s stock worth $540,893,000 after buying an additional 9,127,714 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of NorthWestern Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 4,257,863 shares of the utilities provider’s stock worth $249,937,000 after buying an additional 158,474 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of NorthWestern Corporation by 6.9% in the first quarter. JPMorgan Chase & Co. now owns 2,605,078 shares of the utilities provider’s stock worth $152,919,000 after buying an additional 167,754 shares in the last quarter. State Street Corp boosted its position in shares of NorthWestern Corporation by 4.3% in the first quarter. State Street Corp now owns 1,681,545 shares of the utilities provider’s stock worth $98,705,000 after buying an additional 69,473 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its position in shares of NorthWestern Corporation by 2.0% in the fourth quarter. Macquarie Group Ltd. now owns 1,432,751 shares of the utilities provider’s stock worth $81,481,000 after buying an additional 28,501 shares in the last quarter. Institutional investors own 95.40% 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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