NorthWestern Corp. (NWE) Scheduled to Post Quarterly Earnings on Thursday
NorthWestern Corp. (NYSE:NWE) is scheduled to issue its Q316 quarterly earnings data on Thursday, October 20th.
NorthWestern Corp. (NYSE:NWE) last announced its quarterly earnings results on Friday, July 22nd. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.12. The company earned $293.10 million during the quarter, compared to analysts’ expectations of $320.68 million. NorthWestern Corp. had a return on equity of 9.56% and a net margin of 11.64%. NorthWestern Corp.’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 EPS. On average, analysts expect NorthWestern Corp. to post $3.27 EPS for the current fiscal year and $3.42 EPS for the next fiscal year.
Shares of NorthWestern Corp. (NYSE:NWE) opened at 55.79 on Tuesday. The stock has a 50 day moving average price of $57.29 and a 200-day moving average price of $59.07. NorthWestern Corp. has a 52 week low of $51.27 and a 52 week high of $63.75. The company has a market capitalization of $2.70 billion, a PE ratio of 18.89 and a beta of 0.39.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date was Tuesday, September 13th. NorthWestern Corp.’s payout ratio is 67.80%.
In other news, VP Curtis T. Pohl sold 2,650 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $60.48, for a total transaction of $160,272.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian B. Bird sold 9,320 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $60.95, for a total value of $568,054.00. The disclosure for this sale can be found here. Insiders own 1.34% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of NWE. Arizona State Retirement System raised its stake in NorthWestern Corp. by 1.6% in the second quarter. Arizona State Retirement System now owns 25,062 shares of the company’s stock worth $1,581,000 after buying an additional 400 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in NorthWestern Corp. during the second quarter worth about $2,359,000. Jane Street Group LLC bought a new stake in NorthWestern Corp. during the second quarter worth about $485,000. AQR Capital Management LLC raised its stake in NorthWestern Corp. by 63.1% in the second quarter. AQR Capital Management LLC now owns 68,388 shares of the company’s stock worth $4,313,000 after buying an additional 26,462 shares during the last quarter. Finally, Guggenheim Capital LLC raised its stake in NorthWestern Corp. by 92.8% in the second quarter. Guggenheim Capital LLC now owns 62,252 shares of the company’s stock worth $3,926,000 after buying an additional 29,961 shares during the last quarter. 99.13% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on NWE. Williams Capital raised NorthWestern Corp. from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Monday, October 10th. Zacks Investment Research raised NorthWestern Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th.
NorthWestern Corp. Company Profile
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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