NorthWestern (NWE) Given Underperform Rating at Bank of America
Bank of America reiterated their underperform rating on shares of NorthWestern (NYSE:NWE) in a report released on Thursday morning. They currently have a $55.00 target price on the utilities provider’s stock.
A number of other research analysts also recently issued reports on NWE. Zacks Investment Research upgraded shares of NorthWestern from a sell rating to a hold rating in a research note on Thursday, November 15th. Barclays set a $62.00 price target on shares of NorthWestern and gave the stock a hold rating in a research note on Saturday, November 17th. KeyCorp lifted their price target on shares of NorthWestern from $66.00 to $67.00 and gave the stock an overweight rating in a research note on Monday, December 17th. Finally, Credit Suisse Group decreased their price target on shares of NorthWestern from $60.00 to $56.00 and set an underperform rating for the company in a research note on Wednesday, February 13th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. NorthWestern currently has a consensus rating of Hold and a consensus target price of $61.33.
NorthWestern stock traded up $0.32 during trading on Thursday, reaching $70.55. The stock had a trading volume of 2,283 shares, compared to its average volume of 302,796. NorthWestern has a 52-week low of $50.84 and a 52-week high of $71.02. The company has a quick ratio of 0.65, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $3.57 billion, a P/E ratio of 20.81, a P/E/G ratio of 6.81 and a beta of 0.34.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be given a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Thursday, March 14th. This is an increase from NorthWestern’s previous quarterly dividend of $0.55. NorthWestern’s payout ratio is currently 64.90%.
In other news, VP Michael R. Cashell sold 1,656 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $67.85, for a total transaction of $112,359.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Curtis T. Pohl sold 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $65.54, for a total transaction of $144,188.00. The disclosure for this sale can be found here. Insiders have sold a total of 6,156 shares of company stock valued at $411,430 in the last 90 days. Insiders own 1.17% of the company’s stock.
Several large investors have recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in NorthWestern by 9.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 183,995 shares of the utilities provider’s stock valued at $10,792,000 after purchasing an additional 16,243 shares during the last quarter. SG Americas Securities LLC raised its position in NorthWestern by 167.8% in the 3rd quarter. SG Americas Securities LLC now owns 123,684 shares of the utilities provider’s stock valued at $7,255,000 after purchasing an additional 77,493 shares during the last quarter. JPMorgan Chase & Co. raised its position in NorthWestern by 3.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,528,462 shares of the utilities provider’s stock valued at $148,319,000 after purchasing an additional 76,651 shares during the last quarter. Redpoint Investment Management Pty Ltd purchased a new stake in NorthWestern in the 3rd quarter valued at $210,000. Finally, Commonwealth Bank of Australia purchased a new stake in NorthWestern in the 3rd quarter valued at $281,000. Institutional investors and hedge funds own 96.51% of the company’s stock.
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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