NorthWestern Corp. (NYSE:NWE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $66.00 price objective on the stock. Zacks Investment Research’s price target would suggest a potential upside of 12.28% from the company’s current price.
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. “
Several other equities analysts have also commented on NWE. Williams Capital raised NorthWestern Corp. from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Monday, October 10th. Mizuho lowered 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.
NorthWestern Corp. (NYSE:NWE) opened at 58.78 on Tuesday. The stock has a market cap of $2.84 billion, a P/E ratio of 17.51 and a beta of 0.34. NorthWestern Corp. has a 52-week low of $51.95 and a 52-week high of $63.75. The firm’s 50-day moving average price is $56.21 and its 200 day moving average price is $58.54.
NorthWestern Corp. (NYSE:NWE) last posted its earnings results on Thursday, October 20th. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.10. The company earned $301 million during the quarter, compared to analyst estimates of $282.30 million. NorthWestern Corp. had a return on equity of 9.94% and a net margin of 13.04%. The business’s revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 earnings per share. Equities analysts predict that NorthWestern Corp. will post $3.20 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be given 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 3.40%. NorthWestern Corp.’s dividend payout ratio is presently 59.52%.
In other news, CEO Robert C. Rowe sold 3,011 shares of the business’s stock in a transaction that occurred on Monday, November 28th. 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 130,960 shares in the company, valued at $7,595,680. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.34% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Crow Point Partners LLC acquired a new position in shares of NorthWestern Corp. during the third quarter valued at about $5,892,000. Ameritas Investment Partners Inc. increased its stake in NorthWestern Corp. by 400.9% in the third quarter. Ameritas Investment Partners Inc. now owns 19,005 shares of the company’s stock worth $1,093,000 after buying an additional 15,211 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in NorthWestern Corp. during the third quarter worth $5,578,000. Analytic Investors LLC increased its stake in NorthWestern Corp. by 9.2% in the third quarter. Analytic Investors LLC now owns 25,743 shares of the company’s stock worth $1,481,000 after buying an additional 2,170 shares during the period. Finally, Advantus Capital Management Inc purchased a new stake in NorthWestern Corp. during the third quarter worth $338,000. Institutional investors and hedge funds own 97.31% 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.