Prudential PLC Buys Shares of 3,400 NorthWestern Corporation (NWE)
Prudential PLC bought a new position in shares of NorthWestern Corporation (NYSE:NWE) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,400 shares of the utilities provider’s stock, valued at approximately $207,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA increased its stake in NorthWestern Corporation by 110.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 26,364 shares of the utilities provider’s stock worth $1,609,000 after purchasing an additional 13,847 shares in the last quarter. State Street Corp increased its stake in NorthWestern Corporation by 4.3% during the 1st quarter. State Street Corp now owns 1,681,545 shares of the utilities provider’s stock worth $98,705,000 after purchasing an additional 69,473 shares in the last quarter. Federated Investors Inc. PA boosted its position in NorthWestern Corporation by 6.5% during the 2nd quarter. Federated Investors Inc. PA now owns 130,224 shares of the utilities provider’s stock worth $7,946,000 after acquiring an additional 7,926 shares during the last quarter. Legal & General Group Plc boosted its position in NorthWestern Corporation by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 185,983 shares of the utilities provider’s stock worth $11,352,000 after acquiring an additional 15,472 shares during the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new position in NorthWestern Corporation during the 2nd quarter worth approximately $1,257,000. 98.33% of the stock is owned by institutional investors and hedge funds.
NorthWestern Corporation (NWE) opened at 58.44 on Friday. The firm’s 50-day moving average price is $58.70 and its 200-day moving average price is $60.12. NorthWestern Corporation has a 52-week low of $54.07 and a 52-week high of $63.86. The firm has a market cap of $2.83 billion, a P/E ratio of 16.94 and a beta of 0.36.
NorthWestern Corporation (NYSE:NWE) last announced its quarterly 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 company had revenue of $283.86 million for the quarter, compared to the consensus estimate of $302.42 million. During the same quarter last year, the company posted $0.65 EPS. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities research analysts expect that NorthWestern Corporation will post $3.39 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a dividend of $0.525 per share. The ex-dividend date was Thursday, September 14th. This represents a $2.10 annualized dividend and a yield of 3.59%. NorthWestern Corporation’s dividend payout ratio (DPR) is currently 60.34%.
NWE has been the subject of a number of recent research reports. Credit Suisse Group downgraded NorthWestern Corporation from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $62.00 to $60.00 in a research report on Monday, July 24th. Zacks Investment Research raised NorthWestern Corporation from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Friday, July 7th. BidaskClub raised NorthWestern Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Williams Capital downgraded NorthWestern Corporation from a “hold” rating to a “sell” rating and reduced their price target for the stock from $64.00 to $52.00 in a research report on Monday, July 31st. Three analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock currently has an average rating of “Sell” and an average target price of $60.00.
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In related news, CEO Robert C. Rowe sold 3,626 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $60.43, for a total transaction of $219,119.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.33% of the company’s stock.
NorthWestern Corporation 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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