NorthWestern Corporation (NWE) Shares Bought by Prudential Financial Inc.
Prudential Financial Inc. raised its stake in NorthWestern Corporation (NYSE:NWE) by 12.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 688,091 shares of the utilities provider’s stock after acquiring an additional 78,110 shares during the quarter. Prudential Financial Inc. owned approximately 1.42% of NorthWestern Corporation worth $39,179,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NWE. Meeder Asset Management Inc. purchased a new stake in shares of NorthWestern Corporation during the 2nd quarter valued at approximately $155,000. Riverhead Capital Management LLC lifted its stake in shares of NorthWestern Corporation by 62.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,931 shares of the utilities provider’s stock valued at $179,000 after buying an additional 1,131 shares in the last quarter. North Star Investment Management Corp. lifted its stake in shares of NorthWestern Corporation by 100.4% during the 2nd 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 in the last quarter. Stevens Capital Management LP purchased a new stake in shares of NorthWestern Corporation during the 2nd quarter valued at approximately $201,000. Finally, Legg Mason Asset Management Japan Co. Ltd. purchased a new stake in shares of NorthWestern Corporation during the 2nd quarter valued at approximately $207,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.
Shares of NorthWestern Corporation (NYSE:NWE) opened at $60.34 on Monday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.33 and a current ratio of 0.42. The firm has a market cap of $2,932.19, a P/E ratio of 18.23, a P/E/G ratio of 11.59 and a beta of 0.35. NorthWestern Corporation has a twelve month low of $54.07 and a twelve month high of $63.86.
NorthWestern Corporation (NYSE:NWE) last posted its earnings results on Wednesday, November 1st. The utilities provider reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.01). The firm had revenue of $309.90 million for the quarter, compared to the consensus estimate of $305.60 million. NorthWestern Corporation had a return on equity of 9.41% and a net margin of 12.44%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the company posted $0.68 EPS. analysts forecast that NorthWestern Corporation will post 3.39 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend is Thursday, December 14th. NorthWestern Corporation’s dividend payout ratio (DPR) is presently 63.44%.
In related news, CEO Robert C. Rowe sold 3,626 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $60.43, for a total transaction of $219,119.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.33% of the company’s stock.
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A number of analysts recently commented on NWE shares. BidaskClub upgraded shares of NorthWestern Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 8th. Credit Suisse Group dropped their price target on shares of NorthWestern Corporation from $60.00 to $58.00 and set an “underperform” rating on the stock in a research note on Friday. Bank of America Corporation started coverage on shares of NorthWestern Corporation in a research note on Tuesday, October 24th. They set an “underperform” rating and a $54.00 price target on the stock. Williams Capital cut shares of NorthWestern Corporation from a “hold” rating to a “sell” rating and dropped their price target for the company from $64.00 to $52.00 in a research note on Monday, July 31st. Finally, KeyCorp restated a “hold” rating on shares of NorthWestern Corporation in a research note on Friday, October 20th. Four equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The stock presently has an average rating of “Sell” and a consensus price target of $58.00.
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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