Oliver Luxxe Assets LLC Has $3.85 Million Holdings in NorthWestern Corporation $NWE

Oliver Luxxe Assets LLC trimmed its position in NorthWestern Corporation (NASDAQ:NWE) by 34.8% in the second quarter, Holdings Channel reports. The fund owned 53,748 shares of the company’s stock after selling 28,698 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in NorthWestern were worth $3,849,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Allworth Financial LP increased its holdings in NorthWestern by 263.3% in the 3rd quarter. Allworth Financial LP now owns 436 shares of the company’s stock worth $26,000 after purchasing an additional 316 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of NorthWestern by 142.0% during the fourth quarter. IFP Advisors Inc now owns 455 shares of the company’s stock valued at $29,000 after purchasing an additional 267 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of NorthWestern by 3,221.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 465 shares of the company’s stock valued at $27,000 after purchasing an additional 451 shares in the last quarter. PenderFund Capital Management Ltd. acquired a new stake in shares of NorthWestern during the third quarter valued at about $37,000. Finally, Daiwa Securities Group Inc. grew its holdings in shares of NorthWestern by 34.3% during the second quarter. Daiwa Securities Group Inc. now owns 845 shares of the company’s stock worth $43,000 after purchasing an additional 216 shares during the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

Wall Street Analysts Forecast Growth

NWE has been the subject of several recent research reports. Wells Fargo & Company upped their price objective on NorthWestern from $62.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Wall Street Zen upgraded shares of NorthWestern to a “hold” rating in a research report on Saturday, April 25th. Barclays boosted their target price on shares of NorthWestern from $62.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Weiss Ratings cut shares of NorthWestern from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of NorthWestern from $73.00 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $73.30.

NorthWestern Stock Performance

Shares of NWE opened at $72.09 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.58 and a debt-to-equity ratio of 1.19. The firm’s fifty day simple moving average is $70.84 and its two-hundred day simple moving average is $69.89. NorthWestern Corporation has a 12 month low of $54.89 and a 12 month high of $75.18. The stock has a market capitalization of $4.43 billion, a P/E ratio of 26.03, a price-to-earnings-growth ratio of 3.81 and a beta of 0.34.

NorthWestern (NASDAQ:NWE) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.08. The firm had revenue of $392.60 million during the quarter, compared to analyst estimates of $386.22 million. NorthWestern had a return on equity of 8.03% and a net margin of 10.13%.The business’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period last year, the company posted $0.40 EPS. As a group, analysts predict that NorthWestern Corporation will post 3.75 EPS for the current year.

NorthWestern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $2.68 annualized dividend and a yield of 3.7%. NorthWestern’s payout ratio is 96.75%.

NorthWestern Company Profile

NorthWestern Corporation (NASDAQ: NWE) is a regulated energy company that delivers electricity and natural gas to residential, commercial and industrial customers. Through its Electric Operations and Gas Operations segments, the company operates an extensive network of distribution lines, substations and pipelines. NorthWestern’s services encompass the delivery of power sourced from regional transmission systems and the procurement, storage and distribution of natural gas to end users.

Electric delivery services include the management of distribution infrastructure, customer metering and system reliability programs.