Hennessy Advisors Inc. Reduces Holdings in NorthWestern Corp (NWE)

Hennessy Advisors Inc. cut its holdings in NorthWestern Corp (NYSE:NWE) by 8.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 52,398 shares of the utilities provider’s stock after selling 5,000 shares during the quarter. Hennessy Advisors Inc.’s holdings in NorthWestern were worth $3,074,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NWE. Steward Partners Investment Advisory LLC bought a new stake in NorthWestern in the second quarter worth about $132,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in NorthWestern in the second quarter worth about $235,000. Hartford Investment Management Co. bought a new stake in NorthWestern in the second quarter worth about $248,000. Nomura Holdings Inc. bought a new stake in NorthWestern in the second quarter worth about $264,000. Finally, Cypress Wealth Services LLC bought a new stake in NorthWestern in the second quarter worth about $275,000. Hedge funds and other institutional investors own 95.31% of the company’s stock.

Several equities research analysts have commented on the stock. Credit Suisse Group boosted their price target on shares of NorthWestern from $55.00 to $56.00 and gave the stock an “underperform” rating in a research report on Monday, October 1st. Zacks Investment Research cut shares of NorthWestern from a “buy” rating to a “hold” rating in a research report on Thursday, September 20th. Wells Fargo & Co boosted their price target on shares of NorthWestern from $59.00 to $61.00 and gave the stock a “market perform” rating in a research report on Monday, September 17th. Barclays assumed coverage on shares of NorthWestern in a research report on Tuesday, July 10th. They issued an “equal weight” rating and a $60.00 price target on the stock. Finally, ValuEngine upgraded shares of NorthWestern from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $59.60.

In related news, VP Curtis T. Pohl sold 1,200 shares of NorthWestern stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $58.73, for a total value of $70,476.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.40% of the company’s stock.

Shares of NWE opened at $58.68 on Friday. The stock has a market capitalization of $2.95 billion, a P/E ratio of 17.78, a P/E/G ratio of 7.51 and a beta of 0.09. NorthWestern Corp has a 1-year low of $50.01 and a 1-year high of $64.47. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.62 and a current ratio of 0.77.

NorthWestern (NYSE:NWE) last issued its quarterly earnings results on Thursday, July 19th. The utilities provider reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.43. The firm had revenue of $261.82 million for the quarter, compared to analysts’ expectations of $286.14 million. NorthWestern had a return on equity of 10.28% and a net margin of 14.84%. NorthWestern’s revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the business posted $0.47 EPS. As a group, equities analysts forecast that NorthWestern Corp will post 3.45 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were paid a $0.55 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $2.20 dividend on an annualized basis and a yield of 3.75%. NorthWestern’s dividend payout ratio is currently 66.67%.

NorthWestern 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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Institutional Ownership by Quarter for NorthWestern (NYSE:NWE)

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