Public Employees Retirement System of Ohio increased its position in shares of NorthWestern Corporation (NYSE:NWE) by 18.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,939 shares of the utilities provider’s stock after purchasing an additional 8,743 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.12% of NorthWestern worth $3,242,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Riverhead Capital Management LLC boosted its position in NorthWestern by 62.8% during the second quarter. Riverhead Capital Management LLC now owns 2,931 shares of the utilities provider’s stock worth $179,000 after acquiring an additional 1,131 shares during the last quarter. Stevens Capital Management LP acquired a new stake in NorthWestern during the second quarter worth approximately $201,000. Legg Mason Asset Management Japan Co. Ltd. acquired a new stake in NorthWestern during the second quarter worth approximately $207,000. Prudential PLC acquired a new stake in NorthWestern during the second quarter worth approximately $207,000. Finally, Shelton Capital Management acquired a new stake in NorthWestern during the second quarter worth approximately $222,000. 93.64% of the stock is owned by institutional investors.
In related news, CEO Robert C. Rowe sold 3,626 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $64.25, for a total transaction of $232,970.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.33% of the stock is owned by insiders.
A number of equities analysts have recently commented on the stock. Credit Suisse Group cut their target price on shares of NorthWestern from $60.00 to $58.00 and set an “underperform” rating on the stock in a research note on Friday, November 10th. Zacks Investment Research raised shares of NorthWestern from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Bank of America started coverage on shares of NorthWestern in a research note on Tuesday, October 24th. They set an “underperform” rating and a $54.00 price target on the stock. Finally, KeyCorp reaffirmed a “hold” rating on shares of NorthWestern in a research note on Friday, October 20th. Four equities research analysts have rated the stock with a sell rating and two have assigned 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 $55.40 on Friday. 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 stock has a market cap of $2,725.18, a PE ratio of 16.74, a price-to-earnings-growth ratio of 10.66 and a beta of 0.38. NorthWestern Corporation has a one year low of $55.33 and a one year high of $64.47.
NorthWestern (NYSE:NWE) last released its earnings results on Wednesday, November 1st. The utilities provider reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). NorthWestern had a return on equity of 9.41% and a net margin of 12.44%. The business had revenue of $309.90 million during the quarter, compared to the consensus estimate of $305.60 million. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. equities research analysts predict that NorthWestern Corporation will post 3.39 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were issued a dividend of $0.525 per share. The ex-dividend date was Thursday, December 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 3.79%. NorthWestern’s dividend payout ratio is currently 63.44%.
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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