NorthWestern Corporation $NWE Shares Purchased by Magellan Asset Management Ltd

Magellan Asset Management Ltd lifted its stake in NorthWestern Corporation (NASDAQ:NWE) by 25.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 65,874 shares of the company’s stock after purchasing an additional 13,464 shares during the quarter. Magellan Asset Management Ltd’s holdings in NorthWestern were worth $4,344,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Allworth Financial LP grew its position in NorthWestern by 263.3% during the 3rd quarter. Allworth Financial LP now owns 436 shares of the company’s stock worth $26,000 after purchasing an additional 316 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of NorthWestern by 3,221.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 465 shares of the company’s stock worth $27,000 after buying an additional 451 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of NorthWestern by 142.0% in the fourth quarter. IFP Advisors Inc now owns 455 shares of the company’s stock worth $29,000 after buying an additional 267 shares during the last quarter. PenderFund Capital Management Ltd. acquired a new stake in shares of NorthWestern during the third quarter worth $37,000. Finally, Daiwa Securities Group Inc. lifted its stake in shares of NorthWestern by 34.3% during the second quarter. Daiwa Securities Group Inc. now owns 845 shares of the company’s stock worth $43,000 after buying an additional 216 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NWE has been the topic of a number of research analyst reports. Weiss Ratings raised shares of NorthWestern from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 15th. Wall Street Zen raised NorthWestern to a “hold” rating in a research report on Saturday, April 25th. Wells Fargo & Company reiterated an “underweight” rating and set a $54.00 price target on shares of NorthWestern in a research note on Tuesday, April 21st. LADENBURG THALM/SH SH raised NorthWestern from a “neutral” rating to a “buy” rating and increased their price objective for the company from $56.00 to $75.50 in a report on Wednesday, April 1st. Finally, Barclays lifted their target price on NorthWestern from $62.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, NorthWestern has a consensus rating of “Hold” and an average price target of $70.10.

NorthWestern Stock Down 0.1%

NASDAQ:NWE opened at $71.80 on Wednesday. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.70 and a quick ratio of 0.52. The company’s fifty day moving average price is $70.99 and its 200-day moving average price is $69.49. NorthWestern Corporation has a 1-year low of $51.92 and a 1-year high of $75.18. The firm has a market capitalization of $4.42 billion, a P/E ratio of 26.40, a PEG ratio of 3.79 and a beta of 0.34.

NorthWestern (NASDAQ:NWE) last posted its earnings results on Wednesday, April 29th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.02. NorthWestern had a net margin of 10.21% and a return on equity of 7.80%. The company had revenue of $516.60 million during the quarter. During the same quarter in the prior year, the firm earned $1.22 earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities research analysts anticipate that NorthWestern Corporation will post 3.75 EPS for the current year.

NorthWestern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, June 15th. NorthWestern’s payout ratio is 98.53%.

NorthWestern Profile

NorthWestern Corporation (NASDAQ: NWE) is a regulated energy company that delivers electricity and natural gas to residential, commercial and industrial customers. Through its Electric Operations and Gas Operations segments, the company operates an extensive network of distribution lines, substations and pipelines. NorthWestern’s services encompass the delivery of power sourced from regional transmission systems and the procurement, storage and distribution of natural gas to end users.

Electric delivery services include the management of distribution infrastructure, customer metering and system reliability programs.