Texas Permanent School Fund increased its stake in shares of NorthWestern Corporation (NYSE:NWE) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,370 shares of the utilities provider’s stock after buying an additional 361 shares during the period. Texas Permanent School Fund’s holdings in NorthWestern Corporation were worth $2,158,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of NorthWestern Corporation by 25.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,983 shares of the utilities provider’s stock valued at $116,000 after buying an additional 397 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of NorthWestern Corporation during the second quarter valued at about $155,000. North Star Investment Management Corp. increased its stake in shares of NorthWestern Corporation by 100.4% in the second quarter. North Star Investment Management Corp. now owns 3,295 shares of the utilities provider’s stock valued at $201,000 after buying an additional 1,651 shares in the last quarter. Capstone Asset Management Co. increased its stake in shares of NorthWestern Corporation by 8.2% in the first quarter. Capstone Asset Management Co. now owns 3,830 shares of the utilities provider’s stock valued at $225,000 after buying an additional 290 shares in the last quarter. Finally, LS Investment Advisors LLC increased its stake in shares of NorthWestern Corporation by 19.8% in the second quarter. LS Investment Advisors LLC now owns 3,837 shares of the utilities provider’s stock valued at $234,000 after buying an additional 633 shares in the last quarter. Institutional investors and hedge funds own 94.33% of the company’s stock.
NorthWestern Corporation (NYSE:NWE) opened at 60.60 on Friday. The company’s 50-day moving average price is $60.41 and its 200 day moving average price is $59.58. The stock has a market capitalization of $2.94 billion, a P/E ratio of 17.57 and a beta of 0.36. NorthWestern Corporation has a 52-week low of $53.85 and a 52-week high of $63.86.
NorthWestern Corporation (NYSE:NWE) last issued its quarterly earnings results on Tuesday, July 25th. The utilities provider reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by $0.15. NorthWestern Corporation had a net margin of 13.17% and a return on equity of 9.31%. The business had revenue of $283.86 million for the quarter, compared to analysts’ expectations of $302.42 million. During the same quarter in the prior year, the firm posted $0.65 EPS. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, equities research analysts anticipate that NorthWestern Corporation will post $3.39 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 3.47%. NorthWestern Corporation’s dividend payout ratio is 60.34%.
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NWE has been the topic of several recent analyst reports. BidaskClub upgraded NorthWestern Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research upgraded NorthWestern Corporation from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Friday, June 9th. Williams Capital increased their target price on NorthWestern Corporation from $61.00 to $64.00 and gave the stock a “hold” rating in a research report on Wednesday, July 5th. Finally, Credit Suisse Group downgraded NorthWestern Corporation from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $62.00 to $60.00 in a research report on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock has an average rating of “Sell” and an average price target of $60.00.
In other news, VP Patrick R. Corcoran sold 7,487 shares of NorthWestern Corporation stock in a transaction on Monday, June 5th. The stock was sold at an average price of $62.72, for a total transaction of $469,584.64. Following the transaction, the vice president now owns 13,259 shares in the company, valued at $831,604.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert C. Rowe sold 7,252 shares of NorthWestern Corporation stock in a transaction on Monday, May 15th. The shares were sold at an average price of $60.89, for a total value of $441,574.28. The disclosure for this sale can be found here. Insiders own 1.33% of the company’s stock.
NorthWestern Corporation Company Profile
NorthWestern Corporation, doing business as North-Western Energy, provides electricity and natural gas. The Company’s segments are Electric operations, Natural gas operations and All other. As of December 31, 2016, the Company provided electricity and natural gas to approximately 709,600 customers in Montana, South Dakota and Nebraska.
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