GW&K Investment Management LLC Sells 102,095 Shares of NorthWestern Corporation (NWE)

GW&K Investment Management LLC cut its holdings in NorthWestern Corporation (NYSE:NWE) by 15.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 555,406 shares of the utilities provider’s stock after selling 102,095 shares during the quarter. GW&K Investment Management LLC’s holdings in NorthWestern were worth $33,158,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Riverhead Capital Management LLC boosted its stake in NorthWestern by 62.8% in the second quarter. Riverhead Capital Management LLC now owns 2,931 shares of the utilities provider’s stock valued at $179,000 after acquiring an additional 1,131 shares during the last quarter. Stevens Capital Management LP bought a new position in NorthWestern in the second quarter valued at approximately $201,000. Legg Mason Asset Management Japan Co. Ltd. bought a new position in NorthWestern in the second quarter valued at approximately $207,000. Prudential PLC bought a new position in NorthWestern in the second quarter valued at approximately $207,000. Finally, Shelton Capital Management bought a new position in NorthWestern in the second quarter valued at approximately $222,000. 93.64% of the stock is currently owned by hedge funds and other institutional investors.

NWE has been the topic of a number of recent research reports. Credit Suisse Group reduced their price objective on shares of NorthWestern from $60.00 to $58.00 and set an “underperform” rating on the stock in a research note on Friday, November 10th. Bank of America initiated coverage on shares of NorthWestern in a research note on Tuesday, October 24th. They issued an “underperform” rating and a $54.00 price objective on the stock. KeyCorp reaffirmed a “hold” rating on shares of NorthWestern in a research note on Friday, October 20th. Finally, Zacks Investment Research raised shares of NorthWestern from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. NorthWestern currently has a consensus rating of “Sell” and an average price target of $58.00.

In other news, CEO Robert C. Rowe sold 3,626 shares of NorthWestern stock in a transaction on Friday, December 1st. The shares were sold at an average price of $64.25, for a total transaction of $232,970.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.33% of the company’s stock.

NorthWestern Corporation (NYSE:NWE) opened at $53.21 on Friday. The firm has a market cap of $2,590.00, a price-to-earnings ratio of 16.03, a PEG ratio of 8.98 and a beta of 0.38. NorthWestern Corporation has a 52-week low of $53.01 and a 52-week high of $64.47. The company has a current ratio of 0.42, a quick ratio of 0.33 and a debt-to-equity ratio of 1.05.

NorthWestern (NYSE:NWE) last announced its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). The firm had revenue of $309.90 million for the quarter, compared to the consensus estimate of $305.60 million. NorthWestern had a return on equity of 9.41% and a net margin of 12.44%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 earnings per share. research analysts anticipate that NorthWestern Corporation will post 3.41 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were given a dividend of $0.525 per share. The ex-dividend date was Thursday, December 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 3.95%. NorthWestern’s dividend payout ratio is 63.25%.

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About NorthWestern

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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Institutional Ownership by Quarter for NorthWestern (NYSE:NWE)

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