California Public Employees Retirement System Buys 7,458 Shares of NorthWestern Corporation (NYSE:NWE)

California Public Employees Retirement System raised its holdings in NorthWestern Corporation (NYSE:NWE) by 7.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 109,358 shares of the utilities provider’s stock after acquiring an additional 7,458 shares during the period. California Public Employees Retirement System owned about 0.23% of NorthWestern worth $6,227,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Riverhead Capital Management LLC lifted its stake in NorthWestern by 62.8% in the second quarter. Riverhead Capital Management LLC now owns 2,931 shares of the utilities provider’s stock valued at $179,000 after buying an additional 1,131 shares during the period. Stevens Capital Management LP acquired a new position in NorthWestern in the second quarter valued at approximately $201,000. Legg Mason Asset Management Japan Co. Ltd. acquired a new position in NorthWestern in the second quarter valued at approximately $207,000. Prudential PLC acquired a new position in NorthWestern in the second quarter valued at approximately $207,000. Finally, Shelton Capital Management acquired a new position in shares of NorthWestern during the second quarter worth approximately $222,000. Institutional investors own 93.64% of the company’s stock.

NorthWestern Corporation (NYSE:NWE) opened at $53.21 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 firm has a market capitalization of $2,590.00, a price-to-earnings ratio of 16.03, a PEG ratio of 8.98 and a beta of 0.38. NorthWestern Corporation has a 12 month low of $53.01 and a 12 month high of $64.47.

NorthWestern (NYSE:NWE) last posted its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.01). NorthWestern had a return on equity of 9.41% and a net margin of 12.44%. The firm had revenue of $309.90 million for the quarter, compared to the consensus estimate of $305.60 million. During the same quarter in the previous year, the company posted $0.68 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. research analysts forecast that NorthWestern Corporation will post 3.41 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were issued a $0.525 dividend. The ex-dividend date was Thursday, December 14th. This represents a $2.10 annualized dividend and a dividend yield of 3.95%. NorthWestern’s payout ratio is currently 63.25%.

In other NorthWestern news, CEO Robert C. Rowe sold 3,626 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $64.25, for a total value of $232,970.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.33% of the company’s stock.

NWE has been the topic of a number of research reports. KeyCorp reaffirmed a “hold” rating on shares of NorthWestern in a research report on Friday, October 20th. Bank of America initiated coverage on NorthWestern in a report on Tuesday, October 24th. They set an “underperform” rating and a $54.00 price target for the company. Zacks Investment Research upgraded NorthWestern from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. Finally, Credit Suisse Group reduced their price objective on NorthWestern from $60.00 to $58.00 and set an “underperform” rating for the company in a research note on Friday, November 10th. Four equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The stock has an average rating of “Sell” and a consensus target price of $58.00.

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About NorthWestern

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.

Institutional Ownership by Quarter for NorthWestern (NYSE:NWE)

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