Dean Capital Management grew its stake in shares of NorthWestern Corporation (NYSE:NWE) by 92.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,540 shares of the utilities provider’s stock after acquiring an additional 36,825 shares during the quarter. NorthWestern Corporation comprises approximately 2.2% of Dean Capital Management’s portfolio, making the stock its 4th biggest position. Dean Capital Management owned approximately 0.16% of NorthWestern Corporation worth $4,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently modified their holdings of NWE. BlackRock Inc. increased its holdings in shares of NorthWestern Corporation by 10,516.0% during the first quarter. BlackRock Inc. now owns 9,214,512 shares of the utilities provider’s stock valued at $540,893,000 after acquiring an additional 9,127,714 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of NorthWestern Corporation by 1,275.3% during the second quarter. Alliancebernstein L.P. now owns 933,993 shares of the utilities provider’s stock valued at $56,992,000 after acquiring an additional 866,081 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of NorthWestern Corporation during the second quarter valued at $36,722,000. Prudential Financial Inc. increased its holdings in shares of NorthWestern Corporation by 119.2% during the second quarter. Prudential Financial Inc. now owns 609,981 shares of the utilities provider’s stock valued at $37,221,000 after acquiring an additional 331,703 shares in the last quarter. Finally, Teachers Advisors LLC increased its holdings in shares of NorthWestern Corporation by 87.1% during the second quarter. Teachers Advisors LLC now owns 618,396 shares of the utilities provider’s stock valued at $37,735,000 after acquiring an additional 287,912 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.
Shares of NorthWestern Corporation (NYSE:NWE) traded up 0.64% during trading on Thursday, hitting $58.37. The stock had a trading volume of 161,656 shares. NorthWestern Corporation has a 12 month low of $53.97 and a 12 month high of $63.86. The stock has a 50-day moving average price of $58.87 and a 200 day moving average price of $60.12. The company has a market cap of $2.83 billion, a P/E ratio of 16.92 and a beta of 0.36.
NorthWestern Corporation (NYSE:NWE) last issued 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 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 analysts’ expectations of $302.42 million. During the same quarter last year, the company earned $0.65 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities analysts expect that NorthWestern Corporation will post $3.39 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date was Thursday, September 14th. NorthWestern Corporation’s dividend payout ratio (DPR) is presently 60.34%.
In other news, CEO Robert C. Rowe sold 3,626 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $60.43, for a total value of $219,119.18. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.33% of the company’s stock.
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NWE has been the subject of several analyst reports. BidaskClub upgraded NorthWestern Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Williams Capital downgraded NorthWestern Corporation from a “hold” rating to a “sell” rating and reduced their price target for the company from $64.00 to $52.00 in a report on Monday, July 31st. Credit Suisse Group downgraded NorthWestern Corporation from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $62.00 to $60.00 in a report on Monday, July 24th. Finally, Zacks Investment Research downgraded NorthWestern Corporation from a “buy” rating to a “hold” rating in a report on Saturday, July 29th. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The stock presently has an average rating of “Sell” and an average price target of $60.00.
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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