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 0.17% during midday trading on Wednesday, hitting $54.38. 20,158 shares of the company traded hands. The stock has a 50 day moving average of $58.10 and a 200-day moving average of $59.40. The stock has a market capitalization of $2.63 billion, a PE ratio of 18.42 and a beta of 0.39. NorthWestern Corp. has a 52 week low of $51.27 and a 52 week high of $63.75.
NorthWestern Corp. (NYSE:NWE) last released its quarterly earnings data on Friday, July 22nd. The company reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.12. The business had revenue of $293.10 million for the quarter, compared to the consensus estimate of $320.68 million. NorthWestern Corp. had a net margin of 11.64% and a return on equity of 9.56%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. Equities analysts forecast that NorthWestern Corp. will post $3.27 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend was Tuesday, September 13th. NorthWestern Corp.’s dividend payout ratio (DPR) is presently 67.80%.
In other NorthWestern Corp. news, CEO Robert C. Rowe sold 3,011 shares of the company’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $58.00, for a total transaction of $174,638.00. Following the sale, the chief executive officer now directly owns 132,843 shares of the company’s stock, valued at $7,704,894. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Brian B. Bird sold 9,320 shares of the company’s stock in a transaction dated 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. Company insiders own 1.34% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Societe Generale acquired a new stake in NorthWestern Corp. during the second quarter valued at approximately $104,000. LS Investment Advisors LLC increased its stake 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 during the last quarter. Assetmark Inc. increased its stake 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. Public Employees Retirement System of Ohio increased its stake 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 during the last quarter. Finally, BlackRock Japan Co. Ltd purchased a new stake in shares of NorthWestern Corp. during the first quarter worth about $167,000. 99.14% of the stock is currently owned by institutional investors and hedge funds.
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.
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