NorthWestern Corporation (NWE) Position Boosted by Arizona State Retirement System
Arizona State Retirement System boosted its position in shares of NorthWestern Corporation (NYSE:NWE) by 1.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,400 shares of the utilities provider’s stock after buying an additional 300 shares during the period. Arizona State Retirement System’s holdings in NorthWestern Corporation were worth $1,245,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in NWE. BlackRock Inc. boosted its stake in shares of NorthWestern Corporation by 10,516.0% in the first quarter. BlackRock Inc. now owns 9,214,512 shares of the utilities provider’s stock worth $540,893,000 after buying an additional 9,127,714 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of NorthWestern Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 4,257,863 shares of the utilities provider’s stock worth $249,937,000 after buying an additional 158,474 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of NorthWestern Corporation by 6.9% in the first quarter. JPMorgan Chase & Co. now owns 2,605,078 shares of the utilities provider’s stock worth $152,919,000 after buying an additional 167,754 shares in the last quarter. State Street Corp boosted its stake in shares of NorthWestern Corporation by 4.3% in the first quarter. State Street Corp now owns 1,681,545 shares of the utilities provider’s stock worth $98,705,000 after buying an additional 69,473 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of NorthWestern Corporation by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 976,532 shares of the utilities provider’s stock worth $57,323,000 after buying an additional 23,652 shares in the last quarter. Hedge funds and other institutional investors own 98.40% of the company’s stock.
Shares of NorthWestern Corporation (NYSE:NWE) opened at 60.78 on Monday. The firm has a 50-day moving average of $59.95 and a 200-day moving average of $59.84. The firm has a market cap of $2.95 billion, a PE ratio of 17.62 and a beta of 0.36. NorthWestern Corporation has a 52 week low of $53.85 and a 52 week high of $63.86.
NorthWestern Corporation (NYSE:NWE) last issued its quarterly earnings results on Tuesday, July 25th. The utilities provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.62 by $0.15. 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 quarter in the previous year, the business earned $0.65 earnings per share. NorthWestern Corporation’s revenue was down 3.2% compared to the same quarter last year. On average, analysts expect that NorthWestern Corporation will post $3.39 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.10 annualized dividend and a yield of 3.46%. NorthWestern Corporation’s payout ratio is 60.34%.
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A number of analysts have commented on NWE shares. BidaskClub upgraded shares of NorthWestern Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Zacks Investment Research cut shares of NorthWestern Corporation from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. Finally, Williams Capital cut shares of NorthWestern Corporation from a “hold” rating to a “sell” rating and cut their price target for the company from $64.00 to $52.00 in a research note on Monday, July 31st. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The company currently has an average rating of “Sell” and a consensus target price of $60.00.
In related news, VP Patrick R. Corcoran sold 7,487 shares of NorthWestern Corporation stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $62.72, for a total value of $469,584.64. Following the completion of the sale, the vice president now directly owns 13,259 shares in the company, valued at approximately $831,604.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.33% of the stock is currently owned by company insiders.
NorthWestern Corporation Company Profile
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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