NorthWestern Corp. (NYSE:NWE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued 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. “
NorthWestern Corp. (NYSE:NWE) opened at 55.03 on Wednesday. The company has a market capitalization of $2.66 billion, a PE ratio of 18.64 and a beta of 0.39. NorthWestern Corp. has a 12-month low of $51.27 and a 12-month high of $63.75. The firm’s 50 day moving average price is $58.30 and its 200-day moving average price is $59.47.
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 Zacks’ consensus estimate of $0.53 by $0.12. The firm earned $293.10 million during the quarter, compared to the consensus estimate of $320.68 million. NorthWestern Corp. had a return on equity of 9.56% and a net margin of 11.64%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the company posted $0.64 EPS. On average, equities analysts anticipate that NorthWestern Corp. will post $3.27 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were given a $0.50 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $2.00 dividend on an annualized basis and a yield of 3.63%. NorthWestern Corp.’s payout ratio is 67.80%.
In related news, CEO Robert C. Rowe sold 3,011 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $58.00, for a total value of $174,638.00. Following the completion of the sale, the chief executive officer now owns 132,843 shares in the company, valued at approximately $7,704,894. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 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. 1.34% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Societe Generale purchased a new stake in NorthWestern Corp. during the second quarter worth $104,000. LS Investment Advisors LLC increased its stake in 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 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 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 NorthWestern Corp. during the first quarter worth $167,000. 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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