Zacks Investment Research upgraded shares of NorthWestern Corp. (NYSE:NWE) from a sell rating to a hold rating in a research report sent to investors on Tuesday. The brokerage currently has $64.00 target price on the stock.
According to Zacks, “Northwestern Corporation d/b/a NorthWestern Energy is an investor-owned utility and one of the largest providers of electricity and natural gas in the northwest quadrant of the United States. NorthWestern was incorporated in Delaware in November 1923, and since has generated and distributed electricity in South Dakota and distributed natural gas in South Dakota and Nebraska through their energy division, NorthWestern Energy. “
Other equities analysts have also issued research reports about the stock. Williams Capital upgraded shares of NorthWestern Corp. from a hold rating to a buy rating and set a $58.00 price target on the stock in a report on Monday, October 10th. Mizuho decreased their price target on shares of NorthWestern Corp. from $65.00 to $60.00 and set a neutral rating on the stock in a report on Thursday, October 20th.
NorthWestern Corp. (NYSE:NWE) opened at 56.39 on Tuesday. NorthWestern Corp. has a 12-month low of $51.27 and a 12-month high of $63.75. The company has a 50-day moving average price of $56.79 and a 200 day moving average price of $58.79. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 16.80 and a beta of 0.39.
NorthWestern Corp. (NYSE:NWE) last announced its quarterly earnings results on Thursday, October 20th. The company reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.10. The company had revenue of $301 million for the quarter, compared to analyst estimates of $282.30 million. NorthWestern Corp. had a net margin of 13.04% and a return on equity of 9.94%. NorthWestern Corp.’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the business earned $0.51 EPS. On average, equities research analysts predict that NorthWestern Corp. will post $3.20 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $2.00 annualized dividend and a dividend yield of 3.55%. NorthWestern Corp.’s payout ratio is 59.52%.
In related news, CEO Robert C. Rowe sold 3,011 shares of NorthWestern Corp. stock in a transaction on Monday, September 19th. The shares were sold at an average price of $58.00, for a total transaction of $174,638.00. Following the transaction, the chief executive officer now owns 132,843 shares in the company, valued at approximately $7,704,894. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian B. Bird sold 9,320 shares of NorthWestern Corp. stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $60.95, for a total transaction of $568,054.00. The disclosure for this sale can be found here. Corporate insiders own 1.34% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Societe Generale acquired a new position in NorthWestern Corp. during the second quarter valued at $104,000. LS Investment Advisors LLC raised its position in shares of 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 in the last quarter. Assetmark Inc. raised its position in shares of NorthWestern Corp. by 129.1% in the second quarter. Assetmark Inc. now owns 1,858 shares of the company’s stock worth $117,000 after buying an additional 1,047 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of NorthWestern Corp. by 2.3% in the second quarter. Public Employees Retirement System of Ohio now owns 2,599 shares of the company’s stock worth $164,000 after buying an additional 58 shares in the last quarter. Finally, BlackRock Japan Co. Ltd purchased a new position in shares of NorthWestern Corp. during the first quarter worth approximately $167,000. Institutional investors and hedge funds own 99.13% of the company’s stock.
NorthWestern Corp. Company Profile
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.