NorthWestern Corp. (NYSE:NWE)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $58.42, but opened at $58.58. NorthWestern Corp. shares last traded at $58.77, with a volume of 55,228 shares traded.
Separately, Zacks Investment Research downgraded NorthWestern Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th.
The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 19.84 and a beta of 0.43. The stock has a 50-day moving average price of $58.71 and a 200-day moving average price of $59.64.
NorthWestern Corp. (NYSE:NWE) last announced its quarterly earnings data on Friday, July 22nd. The company reported $0.65 EPS for the quarter, topping the Zacks’ 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 the consensus estimate of $320.68 million. During the same quarter last year, the business posted $0.64 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. On average, analysts forecast that NorthWestern Corp. will post $3.27 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 13th. This represents a $2.00 dividend on an annualized basis and a yield of 3.41%. NorthWestern Corp.’s payout ratio is 67.80%.
In related news, CFO Brian B. Bird sold 9,320 shares of NorthWestern Corp. 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Curtis T. Pohl sold 2,650 shares of NorthWestern Corp. stock in a transaction that occurred on Wednesday, July 27th. The stock was 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. Corporate insiders own 1.34% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. State Street Corp increased its position in shares of NorthWestern Corp. by 0.4% in the first quarter. State Street Corp now owns 1,042,098 shares of the company’s stock worth $64,354,000 after buying an additional 4,415 shares during the last quarter. Magnetar Financial LLC bought a new position in shares of NorthWestern Corp. during the first quarter worth approximately $408,000. Metropolitan Life Insurance Co. NY increased its position in shares of NorthWestern Corp. by 0.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 64,802 shares of the company’s stock worth $4,002,000 after buying an additional 219 shares during the last quarter. Assetmark Inc. increased 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 during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of NorthWestern Corp. by 0.5% in the second quarter. Nisa Investment Advisors LLC now owns 84,090 shares of the company’s stock worth $5,304,000 after buying an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 99.14% 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.
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