NorthWestern Corporation (NYSE:NWE) Rating Increased to Sell at BidaskClub
BidaskClub upgraded shares of NorthWestern Corporation (NYSE:NWE) from a strong sell rating to a sell rating in a research note released on Tuesday morning.
Several other research analysts have also commented on NWE. Williams Capital lifted their price target on NorthWestern Corporation from $58.00 to $61.00 and gave the stock a hold rating in a research report on Friday, April 28th. Zacks Investment Research raised NorthWestern Corporation from a hold rating to a buy rating and set a $67.00 price target on the stock in a research report on Tuesday, May 2nd. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The stock presently has an average rating of Sell and a consensus price target of $60.00.
Shares of NorthWestern Corporation (NWE) traded down 0.87% during trading on Tuesday, reaching $60.73. 288,198 shares of the company’s stock traded hands. The stock has a market cap of $2.94 billion, a P/E ratio of 17.61 and a beta of 0.36. NorthWestern Corporation has a one year low of $53.85 and a one year high of $63.86. The company has a 50 day moving average price of $60.70 and a 200-day moving average price of $59.48.
NorthWestern Corporation (NYSE:NWE) last released its quarterly earnings results on Tuesday, July 25th. The utilities provider reported $0.47 EPS for the quarter, missing the consensus estimate of $0.62 by $0.15. The firm had revenue of $283.86 million for the quarter, compared to analyst estimates of $302.42 million. NorthWestern Corporation had a return on equity of 9.31% and a net margin of 13.17%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm earned $0.65 EPS. On average, equities research analysts expect that NorthWestern Corporation will post $3.39 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Thursday, September 14th. NorthWestern Corporation’s payout ratio is currently 60.34%.
In related news, VP Patrick R. Corcoran sold 7,487 shares of the company’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 transaction, the vice president now owns 13,259 shares of the company’s stock, valued at $831,604.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert C. Rowe sold 7,252 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $60.89, for a total value of $441,574.28. The disclosure for this sale can be found here. Insiders own 1.33% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in NWE. State Street Corp raised its position in shares of NorthWestern Corporation by 4.3% in the first quarter. State Street Corp now owns 1,681,545 shares of the utilities provider’s stock worth $98,705,000 after buying an additional 69,473 shares in the last quarter. Norges Bank acquired a new position in shares of NorthWestern Corporation during the fourth quarter worth $17,903,000. Prudential Financial Inc. raised its position in shares of NorthWestern Corporation by 135.4% in the first quarter. Prudential Financial Inc. now owns 278,278 shares of the utilities provider’s stock worth $16,335,000 after buying an additional 160,060 shares in the last quarter. American International Group Inc. raised its position in shares of NorthWestern Corporation by 4.1% in the first quarter. American International Group Inc. now owns 124,708 shares of the utilities provider’s stock worth $7,320,000 after buying an additional 4,870 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of NorthWestern Corporation by 0.6% in the first quarter. Legal & General Group Plc now owns 170,511 shares of the utilities provider’s stock worth $10,010,000 after buying an additional 1,007 shares in the last quarter. 94.33% of the stock is currently owned by hedge funds and other institutional investors.
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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