Bank of America Corporation began coverage on shares of NorthWestern Corporation (NYSE:NWE) in a research note issued to investors on Tuesday, October 24th, Marketbeat reports. The firm issued an underperform rating and a $54.00 price objective on the utilities provider’s stock.
Several other equities research analysts have also commented on the company. KeyCorp reissued a hold rating on shares of NorthWestern Corporation in a research note on Friday, October 20th. BidaskClub raised NorthWestern Corporation from a strong sell rating to a sell rating in a research note on Tuesday, August 8th. Williams Capital lowered NorthWestern Corporation from a hold rating to a sell rating and decreased their price target for the stock from $64.00 to $52.00 in a research note on Monday, July 31st. Zacks Investment Research downgraded NorthWestern Corporation from a buy rating to a hold rating in a research report on Saturday, July 29th. Finally, Credit Suisse Group downgraded NorthWestern Corporation from a neutral rating to an underperform rating and cut their price objective for the stock from $62.00 to $60.00 in a research report on Monday, July 24th. Four investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock presently has a consensus rating of Sell and a consensus price target of $58.00.
NorthWestern Corporation (NYSE NWE) opened at $60.34 on Tuesday. The company has a current ratio of 0.42, a quick ratio of 0.33 and a debt-to-equity ratio of 1.05. NorthWestern Corporation has a twelve month low of $54.07 and a twelve month high of $63.86. The stock has a market capitalization of $2,932.22, a PE ratio of 18.23, a P/E/G ratio of 11.59 and a beta of 0.35.
NorthWestern Corporation (NYSE:NWE) last announced its quarterly earnings data 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). NorthWestern Corporation had a net margin of 12.44% and a return on equity of 9.41%. The business had revenue of $309.90 million during the quarter, compared to analysts’ expectations of $305.60 million. During the same period in the prior year, the firm posted $0.68 EPS. NorthWestern Corporation’s revenue for the quarter was up 3.0% compared to the same quarter last year. analysts expect that NorthWestern Corporation will post 3.39 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.525 per share. The ex-dividend date is Thursday, December 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 3.48%. NorthWestern Corporation’s payout ratio is 63.44%.
In other 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.33% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its position in NorthWestern Corporation by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 107,149 shares of the utilities provider’s stock worth $6,538,000 after purchasing an additional 806 shares during the period. Sterling Capital Management LLC boosted its position in NorthWestern Corporation by 43.3% in the 2nd quarter. Sterling Capital Management LLC now owns 16,106 shares of the utilities provider’s stock valued at $983,000 after buying an additional 4,864 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in NorthWestern Corporation by 110.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 26,364 shares of the utilities provider’s stock valued at $1,609,000 after buying an additional 13,847 shares during the last quarter. State Street Corp boosted its position in NorthWestern Corporation by 4.3% in the 1st 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 last quarter. Finally, Federated Investors Inc. PA boosted its position in NorthWestern Corporation by 6.5% in the 2nd quarter. Federated Investors Inc. PA now owns 130,224 shares of the utilities provider’s stock valued at $7,946,000 after buying an additional 7,926 shares during the last quarter. 97.32% of the stock is owned by hedge funds and other institutional investors.
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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