NorthWestern Corp (NYSE:NWE) announced a quarterly dividend on Tuesday, October 23rd, Zacks reports. Stockholders of record on Friday, December 14th will be paid a dividend of 0.55 per share by the utilities provider on Monday, December 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Thursday, December 13th.
NorthWestern has increased its dividend by an average of 9.5% annually over the last three years and has increased its dividend annually for the last 9 consecutive years. NorthWestern has a dividend payout ratio of 63.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect NorthWestern to earn $3.43 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 64.1%.
NYSE:NWE traded up $0.30 during trading hours on Friday, hitting $64.28. 221,215 shares of the company’s stock traded hands, compared to its average volume of 279,189. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 8.32 and a beta of 0.12. NorthWestern has a twelve month low of $50.01 and a twelve month high of $65.74. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.07.
NorthWestern (NYSE:NWE) last posted its quarterly earnings results on Tuesday, October 23rd. The utilities provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.14). The business had revenue of $279.87 million for the quarter, compared to analyst estimates of $312.21 million. NorthWestern had a net margin of 14.53% and a return on equity of 9.64%. The firm’s quarterly revenue was down 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 earnings per share. Equities analysts forecast that NorthWestern will post 3.4 earnings per share for the current year.
In other NorthWestern news, Director Jan Robert Horsfall sold 900 shares of the business’s stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $60.95, for a total value of $54,855.00. Following the transaction, the director now owns 4,255 shares in the company, valued at $259,342.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP H. Grahame Heather sold 1,900 shares of the business’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $64.15, for a total value of $121,885.00. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
Several research firms recently weighed in on NWE. Zacks Investment Research raised NorthWestern from a “sell” rating to a “hold” rating in a research report on Wednesday, November 21st. Wells Fargo & Co upped their price target on NorthWestern from $59.00 to $61.00 and gave the company a “market perform” rating in a research report on Monday, September 17th. ValuEngine lowered NorthWestern from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. Finally, Barclays set a $62.00 price target on NorthWestern and gave the company a “hold” rating in a research report on Saturday, November 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $61.50.
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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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