Signition LP purchased a new stake in NorthWestern Corp (NYSE:NWE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,120 shares of the utilities provider’s stock, valued at approximately $350,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dean Capital Investments Management LLC raised its stake in shares of NorthWestern by 105.0% in the 2nd quarter. Dean Capital Investments Management LLC now owns 9,766 shares of the utilities provider’s stock valued at $559,000 after purchasing an additional 5,001 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of NorthWestern by 2,904.3% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 302,290 shares of the utilities provider’s stock valued at $17,308,000 after purchasing an additional 292,228 shares during the period. Sei Investments Co. raised its stake in shares of NorthWestern by 11.4% in the 2nd quarter. Sei Investments Co. now owns 46,965 shares of the utilities provider’s stock valued at $2,689,000 after purchasing an additional 4,806 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of NorthWestern in the 2nd quarter valued at about $765,000. Finally, Victory Capital Management Inc. raised its stake in shares of NorthWestern by 1,656.9% in the 2nd quarter. Victory Capital Management Inc. now owns 510,169 shares of the utilities provider’s stock valued at $29,208,000 after purchasing an additional 481,131 shares during the period. 93.10% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have issued reports on the company. Zacks Investment Research raised NorthWestern from a “hold” rating to a “strong-buy” rating and set a $67.00 price target on the stock in a research note on Tuesday, July 24th. Credit Suisse Group lifted their price target on NorthWestern from $54.00 to $55.00 and gave the company a “$58.28” rating in a research note on Thursday, July 19th. Barclays initiated coverage on NorthWestern in a report on Tuesday, July 10th. They issued an “equal weight” rating and a $60.00 price objective for the company. ValuEngine upgraded NorthWestern from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. Finally, KeyCorp upgraded NorthWestern from a “sector weight” rating to an “overweight” rating in a report on Monday, June 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $58.20.
Shares of NYSE NWE opened at $59.31 on Friday. The stock has a market capitalization of $2.99 billion, a PE ratio of 15.74, a P/E/G ratio of 7.62 and a beta of 0.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.77 and a quick ratio of 0.62. NorthWestern Corp has a fifty-two week low of $50.01 and a fifty-two week high of $64.47.
NorthWestern (NYSE:NWE) last announced its quarterly earnings data on Thursday, July 19th. The utilities provider reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.43. The company had revenue of $261.82 million during the quarter, compared to analysts’ expectations of $286.14 million. NorthWestern had a return on equity of 10.28% and a net margin of 14.84%. NorthWestern’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 EPS. sell-side analysts forecast that NorthWestern Corp will post 3.45 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Thursday, September 13th. NorthWestern’s payout ratio is 66.67%.
In other news, VP Curtis T. Pohl sold 1,200 shares of the firm’s stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $58.73, for a total value of $70,476.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is owned by company insiders.
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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