FCA Corp TX Boosts Stake in NorthWestern Corporation (NWE)
FCA Corp TX boosted its stake in NorthWestern Corporation (NYSE:NWE) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,193 shares of the utilities provider’s stock after buying an additional 370 shares during the period. FCA Corp TX owned 0.08% of NorthWestern Corporation worth $2,331,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position 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. Meeder Asset Management Inc. purchased a new position in shares of NorthWestern Corporation during the second quarter valued at approximately $155,000. North Star Investment Management Corp. raised its position in shares of NorthWestern Corporation by 100.4% in the second quarter. North Star Investment Management Corp. now owns 3,295 shares of the utilities provider’s stock valued at $201,000 after buying an additional 1,651 shares during the last quarter. Capstone Asset Management Co. raised its position in shares of NorthWestern Corporation by 8.2% in the first quarter. Capstone Asset Management Co. now owns 3,830 shares of the utilities provider’s stock valued at $225,000 after buying an additional 290 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of NorthWestern Corporation by 2.3% in the first quarter. Envestnet Asset Management Inc. now owns 3,956 shares of the utilities provider’s stock valued at $232,000 after buying an additional 88 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.
NorthWestern Corporation (NWE) opened at 59.27 on Monday. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 17.18 and a beta of 0.36. NorthWestern Corporation has a 52-week low of $53.85 and a 52-week high of $63.86. The company’s 50-day moving average price is $59.98 and its 200-day moving average price is $59.71.
NorthWestern Corporation (NYSE:NWE) last issued its earnings results on Tuesday, July 25th. The utilities provider reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.15. NorthWestern Corporation had a return on equity of 9.31% and a net margin of 13.17%. The business had revenue of $283.86 million for the quarter, compared to the consensus estimate of $302.42 million. During the same quarter in the previous year, the company earned $0.65 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. Analysts predict that NorthWestern Corporation will post $3.39 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 3.54%. The ex-dividend date is Thursday, September 14th. NorthWestern Corporation’s payout ratio is 60.34%.
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Several research analysts have recently commented on NWE shares. 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 research report on Tuesday, May 2nd. BidaskClub upgraded NorthWestern Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock currently has a consensus rating of “Sell” and a consensus target price of $60.00.
In other NorthWestern Corporation news, VP Patrick R. Corcoran sold 7,487 shares of the 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 in the company, valued at approximately $831,604.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.33% of the stock is owned by corporate insiders.
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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