Cubist Systematic Strategies LLC bought a new position in shares of NorthWestern Co. (NYSE:NWE) during the 1st quarter, HoldingsChannel reports. The fund bought 9,690 shares of the utilities provider’s stock, valued at approximately $521,000.
A number of other institutional investors and hedge funds have also made changes to their positions in NWE. OppenheimerFunds Inc. increased its stake in NorthWestern by 3,633.4% during the 4th quarter. OppenheimerFunds Inc. now owns 503,072 shares of the utilities provider’s stock worth $30,034,000 after buying an additional 489,597 shares during the period. Prudential Financial Inc. increased its stake in NorthWestern by 65.4% during the 1st quarter. Prudential Financial Inc. now owns 901,070 shares of the utilities provider’s stock worth $48,477,000 after buying an additional 356,191 shares during the period. LSV Asset Management increased its stake in NorthWestern by 2,336.0% during the 1st quarter. LSV Asset Management now owns 258,214 shares of the utilities provider’s stock worth $13,891,000 after buying an additional 247,614 shares during the period. American Century Companies Inc. increased its stake in NorthWestern by 9.9% during the 1st quarter. American Century Companies Inc. now owns 2,544,356 shares of the utilities provider’s stock worth $136,886,000 after buying an additional 230,085 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in NorthWestern by 4.6% during the 1st quarter. JPMorgan Chase & Co. now owns 2,760,817 shares of the utilities provider’s stock worth $148,533,000 after buying an additional 122,240 shares during the period. 93.57% of the stock is currently owned by hedge funds and other institutional investors.
In other NorthWestern news, CEO Robert C. Rowe sold 8,826 shares of the stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $54.92, for a total value of $484,723.92. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.40% of the company’s stock.
Shares of NYSE:NWE opened at $57.25 on Friday. NorthWestern Co. has a 52 week low of $50.01 and a 52 week high of $64.47. The company has a current ratio of 0.79, a quick ratio of 0.66 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 5.53 and a beta of 0.22.
NorthWestern (NYSE:NWE) last announced its quarterly earnings data on Tuesday, April 24th. The utilities provider reported $1.11 EPS for the quarter, missing the Zacks’ consensus estimate of $1.20 by ($0.09). NorthWestern had a net margin of 12.86% and a return on equity of 9.38%. The firm had revenue of $341.50 million during the quarter, compared to analysts’ expectations of $369.59 million. During the same period in the prior year, the company posted $1.17 earnings per share. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. research analysts forecast that NorthWestern Co. will post 3.42 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 29th. Shareholders of record on Friday, June 15th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend was Thursday, June 14th. NorthWestern’s dividend payout ratio is presently 66.67%.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of NorthWestern from a “buy” rating to a “hold” rating in a research note on Thursday, June 21st. ValuEngine downgraded shares of NorthWestern from a “hold” rating to a “sell” rating in a research report on Wednesday, May 9th. Five investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.80.
NorthWestern Company Profile
NorthWestern Corporation, doing business as NorthWestern Energy, provides electricity and natural gas to residential, commercial, and industrial customers. The company operates through Electric Operations and Natural Gas Operations segments. It generates, transmits, and distributes electricity; and produces, stores, transmits, and distributes natural gas, as well as owns municipal franchises to provide natural gas service in the communities.
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