NorthWestern Corporation (NYSE:NWE) to Post Q3 2018 Earnings of $0.74 Per Share, Williams Capital Forecasts
NorthWestern Corporation (NYSE:NWE) – Analysts at Williams Capital reduced their Q3 2018 earnings per share (EPS) estimates for NorthWestern Corporation in a research report issued to clients and investors on Wednesday. Williams Capital analyst C. Ellinghaus now forecasts that the utilities provider will post earnings of $0.74 per share for the quarter, down from their previous forecast of $0.76. Williams Capital has a “Sell” rating and a $52.00 price objective on the stock.
NorthWestern Corporation (NYSE:NWE) last issued its quarterly earnings results on Tuesday, July 25th. The utilities provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $302.42 million. During the same quarter in the previous year, the firm posted $0.65 earnings per share. The firm’s quarterly revenue was down 3.2% on a year-over-year basis.
Other research analysts have also issued reports about the stock. Zacks Investment Research raised shares of NorthWestern Corporation from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Tuesday, May 23rd. BidaskClub raised shares of NorthWestern Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Sell” and a consensus target price of $60.00.
Shares of NorthWestern Corporation (NWE) traded up 0.77% during midday trading on Friday, reaching $60.28. 452,811 shares of the company’s stock traded hands. NorthWestern Corporation has a 52-week low of $53.85 and a 52-week high of $63.86. The company has a 50 day moving average of $60.96 and a 200 day moving average of $59.47. The firm has a market cap of $2.92 billion, a PE ratio of 17.48 and a beta of 0.36.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in NorthWestern Corporation during the fourth quarter worth $17,903,000. Bank of Montreal Can raised its position in NorthWestern Corporation by 11.4% in the first quarter. Bank of Montreal Can now owns 22,899 shares of the utilities provider’s stock worth $1,345,000 after buying an additional 2,338 shares during the last quarter. Capstone Asset Management Co. raised its position in NorthWestern Corporation by 8.2% in the first quarter. Capstone Asset Management Co. now owns 3,830 shares of the utilities provider’s stock worth $225,000 after buying an additional 290 shares during the last quarter. Louisiana State Employees Retirement System raised its position in NorthWestern Corporation by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 12,200 shares of the utilities provider’s stock worth $716,000 after buying an additional 300 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in NorthWestern Corporation by 7.0% in the first quarter. Nisa Investment Advisors LLC now owns 94,565 shares of the utilities provider’s stock worth $5,551,000 after buying an additional 6,225 shares during the last quarter. 94.61% of the stock is currently owned by institutional investors.
In related news, VP Patrick R. Corcoran sold 7,487 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $62.72, for a total transaction of $469,584.64. Following the transaction, the vice president now directly owns 13,259 shares of the company’s stock, valued at $831,604.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert C. Rowe sold 7,252 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $60.89, for a total transaction of $441,574.28. The disclosure for this sale can be found here. 1.33% of the stock is currently owned by company insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Thursday, September 14th. NorthWestern Corporation’s dividend payout ratio (DPR) is 60.34%.
About NorthWestern Corporation
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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