Teachers Advisors LLC Buys 287,912 Shares of NorthWestern Corporation (NWE)
Teachers Advisors LLC lifted its stake in NorthWestern Corporation (NYSE:NWE) by 87.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 618,396 shares of the utilities provider’s stock after buying an additional 287,912 shares during the period. Teachers Advisors LLC owned approximately 1.28% of NorthWestern Corporation worth $37,735,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of NorthWestern Corporation by 10,516.0% in the first quarter. BlackRock Inc. now owns 9,214,512 shares of the utilities provider’s stock valued at $540,893,000 after buying an additional 9,127,714 shares during the period. Vanguard Group Inc. boosted its stake in shares of NorthWestern Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 4,257,863 shares of the utilities provider’s stock valued at $249,937,000 after buying an additional 158,474 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of NorthWestern Corporation by 6.9% in the first quarter. JPMorgan Chase & Co. now owns 2,605,078 shares of the utilities provider’s stock valued at $152,919,000 after buying an additional 167,754 shares during the period. State Street Corp boosted its stake 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 valued at $98,705,000 after buying an additional 69,473 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of NorthWestern Corporation by 7.4% in the second quarter. American Century Companies Inc. now owns 1,501,387 shares of the utilities provider’s stock valued at $91,615,000 after buying an additional 103,273 shares during the period. Institutional investors and hedge funds own 98.33% of the company’s stock.
Shares of NorthWestern Corporation (NYSE:NWE) opened at 58.41 on Tuesday. NorthWestern Corporation has a 1-year low of $53.85 and a 1-year high of $63.86. The company has a market capitalization of $2.83 billion, a PE ratio of 16.94 and a beta of 0.36. The firm’s 50-day moving average price is $59.95 and its 200 day moving average price is $60.14.
NorthWestern Corporation (NYSE:NWE) last released its quarterly earnings data on Tuesday, July 25th. The utilities provider reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $302.42 million. During the same quarter in the prior year, the firm posted $0.65 earnings per share. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. Equities analysts predict that NorthWestern Corporation will post $3.39 EPS for the current fiscal 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 issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Thursday, September 14th. NorthWestern Corporation’s payout ratio is 60.34%.
In other NorthWestern Corporation news, CEO Robert C. Rowe sold 3,626 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $60.43, for a total value of $219,119.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.33% of the stock is owned by company insiders.
Several equities research analysts recently issued reports on NWE shares. Zacks Investment Research upgraded NorthWestern Corporation from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research note on Tuesday, May 23rd. BidaskClub upgraded NorthWestern Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Finally, Williams Capital boosted their price target on NorthWestern Corporation from $61.00 to $64.00 and gave the company a “hold” rating in a research note on Wednesday, July 5th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The company presently has an average rating of “Sell” and a consensus price target of $60.00.
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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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