Tdam USA Inc. reduced its position in shares of NorthWestern Corp. (NYSE:NWE) by 2.2% during the third quarter, Holdings Channel reports. The firm owned 22,501 shares of the company’s stock after selling 511 shares during the period. Tdam USA Inc.’s holdings in NorthWestern Corp. were worth $1,294,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Genesee Valley Trust Co. acquired a new stake in NorthWestern Corp. during the second quarter worth approximately $209,000. Strs Ohio increased its stake in NorthWestern Corp. by 9.0% in the second quarter. Strs Ohio now owns 7,300 shares of the company’s stock worth $460,000 after buying an additional 600 shares during the period. Bank of Montreal Can acquired a new stake in NorthWestern Corp. during the second quarter worth approximately $1,114,000. New York State Teachers Retirement System increased its stake in NorthWestern Corp. by 8.5% in the second quarter. New York State Teachers Retirement System now owns 67,585 shares of the company’s stock worth $4,263,000 after buying an additional 5,300 shares during the period. Finally, LS Investment Advisors LLC increased its stake in NorthWestern Corp. by 3.5% in the second quarter. LS Investment Advisors LLC now owns 1,698 shares of the company’s stock worth $107,000 after buying an additional 58 shares during the period. 98.13% of the stock is owned by institutional investors.
Shares of NorthWestern Corp. (NYSE:NWE) traded up 1.69% on Friday, hitting $57.22. The stock had a trading volume of 110,124 shares. The firm has a market cap of $2.77 billion, a P/E ratio of 17.04 and a beta of 0.34. NorthWestern Corp. has a 12-month low of $51.95 and a 12-month high of $63.75. The company’s 50-day moving average price is $55.96 and its 200 day moving average price is $58.54.
NorthWestern Corp. (NYSE:NWE) last issued its quarterly earnings data on Thursday, October 20th. The company reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.10. The firm earned $301 million during the quarter, compared to the consensus estimate of $282.30 million. NorthWestern Corp. had a return on equity of 9.94% and a net margin of 13.04%. The firm’s revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 EPS. On average, equities research analysts forecast that NorthWestern Corp. will post $3.20 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 13th. This represents a $2.00 dividend on an annualized basis and a yield of 3.50%. NorthWestern Corp.’s payout ratio is currently 59.52%.
A number of research firms have commented on NWE. Zacks Investment Research raised NorthWestern Corp. from a “sell” rating to a “hold” rating in a report on Thursday, July 28th. Mizuho reduced their target price on NorthWestern Corp. from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, October 20th. Finally, Williams Capital upgraded NorthWestern Corp. from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Monday, October 10th.
In related news, CEO Robert C. Rowe sold 3,011 shares of the company’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $58.00, for a total transaction of $174,638.00. Following the completion of the transaction, the chief executive officer now directly owns 132,843 shares in the company, valued at approximately $7,704,894. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.34% of the company’s stock.
About NorthWestern Corp.
NorthWestern Corporation, doing business as North-Western Energy, provides electricity and natural gas. The Company provides electricity and natural gas to over 701,000 customers in Montana, South Dakota and Nebraska. It generates and distributes electricity in South Dakota; distributes natural gas in South Dakota and Nebraska, and generates and distributes electricity and distributed natural gas in Montana.