Swiss National Bank boosted its position in NorthWestern Corp (NYSE:NWE) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 93,683 shares of the utilities provider’s stock after purchasing an additional 2,000 shares during the quarter. Swiss National Bank owned about 0.19% of NorthWestern worth $6,759,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of NWE. Dimensional Fund Advisors LP grew its stake in NorthWestern by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,063,564 shares of the utilities provider’s stock worth $63,218,000 after buying an additional 18,787 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of NorthWestern by 9.2% in the 4th quarter. Geode Capital Management LLC now owns 562,748 shares of the utilities provider’s stock valued at $33,449,000 after purchasing an additional 47,300 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of NorthWestern in the 1st quarter valued at $324,000. Creative Planning purchased a new stake in shares of NorthWestern in the 1st quarter valued at $211,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of NorthWestern in the 1st quarter valued at $1,528,000. 95.58% of the stock is owned by hedge funds and other institutional investors.
In related news, General Counsel H. Grahame Heather sold 3,600 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $71.09, for a total transaction of $255,924.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert C. Rowe sold 1,500 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $72.57, for a total transaction of $108,855.00. The disclosure for this sale can be found here. Insiders have sold a total of 9,970 shares of company stock valued at $697,947 over the last quarter. 1.17% of the stock is currently owned by company insiders.
NorthWestern (NYSE:NWE) last announced its quarterly earnings data on Tuesday, July 23rd. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.31. NorthWestern had a net margin of 17.30% and a return on equity of 9.86%. The company had revenue of $270.70 million during the quarter, compared to analysts’ expectations of $308.82 million. During the same quarter in the prior year, the company earned $0.63 EPS. The firm’s revenue was up 3.4% on a year-over-year basis. On average, equities research analysts forecast that NorthWestern Corp will post 3.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $0.575 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $2.30 dividend on an annualized basis and a yield of 3.20%. NorthWestern’s dividend payout ratio is currently 67.85%.
A number of equities research analysts have recently issued reports on NWE shares. Zacks Investment Research cut shares of NorthWestern from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Barclays reaffirmed a “sell” rating and issued a $70.00 price objective on shares of NorthWestern in a research note on Sunday, July 28th. Williams Capital raised shares of NorthWestern from a “sell” rating to a “hold” rating and set a $66.00 price objective for the company in a research note on Monday. Finally, ValuEngine cut shares of NorthWestern from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $65.00.
NorthWestern Company Profile
NorthWestern Corporation, doing business as NorthWestern Energy, provides electricity and natural gas to residential, commercial, and industrial customers. The company operates through Electric Operations and Natural Gas Operations segments. It generates, transmits, and distributes electricity; and produces, stores, transmits, and distributes natural gas, as well as owns municipal franchises to provide natural gas service in the communities.
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