NorthWestern Corp. (NYSE:NWE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.
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. “
Shares of NorthWestern Corp. (NYSE:NWE) traded down 0.70% during midday trading on Wednesday, reaching $54.09. The company’s stock had a trading volume of 432,586 shares. The stock has a market cap of $2.61 billion, a PE ratio of 18.32 and a beta of 0.39. NorthWestern Corp. has a one year low of $51.27 and a one year high of $63.75. The firm has a 50-day moving average of $57.95 and a 200-day moving average of $59.35.
NorthWestern Corp. (NYSE:NWE) last issued its quarterly earnings results on Friday, July 22nd. The company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.12. NorthWestern Corp. had a return on equity of 9.56% and a net margin of 11.64%. The firm had revenue of $293.10 million for the quarter, compared to analyst estimates of $320.68 million. During the same period in the previous year, the firm earned $0.64 earnings per share. The company’s revenue was up 8.3% compared to the same quarter last year. On average, analysts forecast that NorthWestern Corp. will post $3.27 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, September 13th. This represents a $2.00 annualized dividend and a dividend yield of 3.70%. NorthWestern Corp.’s dividend payout ratio is 67.80%.
In other news, CFO Brian B. Bird sold 9,320 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $60.95, for a total transaction of $568,054.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Curtis T. Pohl sold 2,650 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $60.48, for a total value of $160,272.00. The disclosure for this sale can be found here. Insiders own 1.34% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in NorthWestern Corp. by 0.4% in the first quarter. State Street Corp now owns 1,042,098 shares of the company’s stock valued at $64,354,000 after buying an additional 4,415 shares in the last quarter. Prudential Financial Inc. increased its stake in NorthWestern Corp. by 1.7% in the second quarter. Prudential Financial Inc. now owns 127,259 shares of the company’s stock valued at $8,026,000 after buying an additional 2,120 shares in the last quarter. Magnetar Financial LLC purchased a new stake in NorthWestern Corp. during the first quarter valued at approximately $408,000. Metropolitan Life Insurance Co. NY increased its stake in NorthWestern Corp. by 0.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 64,802 shares of the company’s stock valued at $4,002,000 after buying an additional 219 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in NorthWestern Corp. by 0.5% in the second quarter. Nisa Investment Advisors LLC now owns 84,090 shares of the company’s stock valued at $5,304,000 after buying an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 99.14% 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.