OppenheimerFunds Inc. Acquires 2,161 Shares of NorthWestern Corporation (NYSE:NWE)
OppenheimerFunds Inc. increased its position in shares of NorthWestern Corporation (NYSE:NWE) by 27.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,059 shares of the utilities provider’s stock after buying an additional 2,161 shares during the period. OppenheimerFunds Inc.’s holdings in NorthWestern Corporation were worth $590,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. 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 during the last quarter. Capstone Asset Management Co. boosted 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 period. Envestnet Asset Management Inc. boosted its position in NorthWestern Corporation by 0.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,868 shares of the utilities provider’s stock worth $222,000 after buying an additional 29 shares during the period. 1st Global Advisors Inc. boosted its position in NorthWestern Corporation by 6.2% in the first quarter. 1st Global Advisors Inc. now owns 4,201 shares of the utilities provider’s stock worth $247,000 after buying an additional 246 shares during the period. Finally, Strs Ohio boosted its position in NorthWestern Corporation by 6.5% in the first quarter. Strs Ohio now owns 4,900 shares of the utilities provider’s stock worth $287,000 after buying an additional 300 shares during the period. 94.33% of the stock is currently owned by institutional investors.
NorthWestern Corporation (NWE) traded up 0.54% during trading on Tuesday, reaching $61.26. The company had a trading volume of 253,906 shares. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 17.76 and a beta of 0.36. The company has a 50-day moving average price of $60.70 and a 200 day moving average price of $59.48. NorthWestern Corporation has a one year low of $53.85 and a one year high of $63.86.
NorthWestern Corporation (NYSE:NWE) last posted its quarterly earnings results on Tuesday, July 25th. The utilities provider reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.15. The firm had revenue of $283.86 million during the quarter, compared to the consensus estimate of $302.42 million. NorthWestern Corporation had a return on equity of 9.31% and a net margin of 13.17%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 earnings per share. Analysts expect that NorthWestern Corporation will post $3.39 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a $0.525 dividend. 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 3.43%. NorthWestern Corporation’s payout ratio is currently 60.34%.
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NWE has been the subject of a number of research reports. Williams Capital increased their target price on NorthWestern Corporation from $58.00 to $61.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Zacks Investment Research upgraded NorthWestern Corporation from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a report on Tuesday, May 2nd. Finally, BidaskClub upgraded NorthWestern Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The company presently has an average rating of “Sell” and a consensus target price of $60.00.
In other NorthWestern Corporation news, CEO Robert C. Rowe sold 7,252 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $60.89, for a total value of $441,574.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Patrick R. Corcoran sold 7,487 shares of the business’s 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 completion of the transaction, the vice president now directly owns 13,259 shares in the company, valued at approximately $831,604.48. The disclosure for this sale can be found here. Corporate 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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