NorthWestern Corporation (NYSE:NWE) posted its quarterly earnings data on Tuesday, July 25th. The utilities provider reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.15, Bloomberg Earnings reports. NorthWestern Corporation had a net margin of 13.17% and a return on equity of 9.31%. The company had revenue of $283.86 million for the quarter, compared to the consensus estimate of $302.42 million. During the same period last year, the business earned $0.65 EPS. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. NorthWestern Corporation updated its FY17 guidance to $3.30-3.50 EPS.
NorthWestern Corporation (NYSE:NWE) traded up 0.77% during trading on Friday, hitting $60.28. The stock had a trading volume of 452,811 shares. The company’s 50 day moving average is $60.96 and its 200 day moving average is $59.47. The firm has a market cap of $2.92 billion, a PE ratio of 17.48 and a beta of 0.36. NorthWestern Corporation has a 52-week low of $53.85 and a 52-week high of $63.86.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.525 dividend. The ex-dividend date is Thursday, September 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 3.48%. NorthWestern Corporation’s dividend payout ratio (DPR) is currently 60.34%.
A number of analysts have commented on NWE shares. Zacks Investment Research raised NorthWestern Corporation from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a report on Friday, July 7th. Credit Suisse Group lowered NorthWestern Corporation from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $62.00 to $60.00 in a report on Monday, July 24th. Williams Capital lifted their target price on NorthWestern Corporation from $61.00 to $64.00 and gave the stock a “hold” rating in a report on Wednesday, July 5th. Finally, BidaskClub lowered NorthWestern Corporation from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. NorthWestern Corporation presently has a consensus rating of “Sell” and a consensus target price of $60.00.
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In related news, VP Patrick R. Corcoran sold 7,487 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $62.72, for a total value of $469,584.64. Following the transaction, the vice president now directly owns 13,259 shares of the company’s stock, valued at approximately $831,604.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert C. Rowe sold 7,252 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $60.89, for a total value of $441,574.28. The disclosure for this sale can be found here. Corporate insiders own 1.33% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in NorthWestern Corporation by 25.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,983 shares of the utilities provider’s stock valued at $116,000 after buying an additional 397 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in NorthWestern Corporation during the second quarter valued at approximately $155,000. North Star Investment Management Corp. raised its stake in NorthWestern Corporation by 100.4% in the second quarter. North Star Investment Management Corp. now owns 3,295 shares of the utilities provider’s stock valued at $201,000 after buying an additional 1,651 shares during the last quarter. Capstone Asset Management Co. raised its stake in NorthWestern Corporation by 8.2% in the first quarter. Capstone Asset Management Co. now owns 3,830 shares of the utilities provider’s stock valued at $225,000 after buying an additional 290 shares during the last quarter. Finally, LS Investment Advisors LLC raised its stake in NorthWestern Corporation by 19.8% in the second quarter. LS Investment Advisors LLC now owns 3,837 shares of the utilities provider’s stock valued at $234,000 after buying an additional 633 shares during the last quarter. 94.61% of the stock is currently 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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