Chartwell Investment Partners LLC Trims Stake in NorthWestern Corp (NWE)
Chartwell Investment Partners LLC trimmed its stake in shares of NorthWestern Corp (NYSE:NWE) by 5.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 277,607 shares of the utilities provider’s stock after selling 15,280 shares during the period. NorthWestern comprises about 0.6% of Chartwell Investment Partners LLC’s holdings, making the stock its 26th biggest position. Chartwell Investment Partners LLC’s holdings in NorthWestern were worth $19,546,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of NWE. Parallel Advisors LLC lifted its position in shares of NorthWestern by 41.3% during the 4th quarter. Parallel Advisors LLC now owns 571 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 167 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of NorthWestern during the 4th quarter valued at approximately $66,000. Ffcm LLC lifted its position in shares of NorthWestern by 130.8% during the 4th quarter. Ffcm LLC now owns 2,428 shares of the utilities provider’s stock valued at $144,000 after acquiring an additional 1,376 shares during the period. Resources Investment Advisors Inc. increased its stake in shares of NorthWestern by 60.0% during the 4th quarter. Resources Investment Advisors Inc. now owns 2,634 shares of the utilities provider’s stock worth $157,000 after purchasing an additional 988 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of NorthWestern by 344.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,053 shares of the utilities provider’s stock worth $179,000 after purchasing an additional 2,366 shares in the last quarter. Institutional investors own 97.75% of the company’s stock.
A number of brokerages have recently weighed in on NWE. Zacks Investment Research cut shares of NorthWestern from a “hold” rating to a “sell” rating in a research note on Tuesday, December 25th. Williams Capital reissued a “sell” rating on shares of NorthWestern in a research note on Monday, March 18th. Barclays cut shares of NorthWestern from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $62.00 to $65.00 in a research note on Wednesday, March 20th. Bank of America reissued an “underperform” rating and set a $55.00 price objective on shares of NorthWestern in a research note on Thursday, March 14th. Finally, Credit Suisse Group dropped their price objective 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. Five analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. NorthWestern has a consensus rating of “Hold” and an average price target of $61.83.
NorthWestern (NYSE:NWE) last released its earnings results on Monday, February 11th. The utilities provider reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.11. The firm had revenue of $308.82 million during the quarter. NorthWestern had a net margin of 16.52% and a return on equity of 9.80%. Research analysts forecast that NorthWestern Corp will post 3.37 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.575 dividend. This is a boost from NorthWestern’s previous quarterly dividend of $0.55. This represents a $2.30 annualized dividend and a yield of 3.29%. The ex-dividend date was Thursday, March 14th. NorthWestern’s payout ratio is presently 67.85%.
In other NorthWestern news, VP Michael R. Cashell sold 1,656 shares of NorthWestern stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $67.85, for a total value of $112,359.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Curtis T. Pohl sold 2,200 shares of NorthWestern 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 sold a total of 6,156 shares of company stock valued at $411,430 over the last ninety days. 1.17% of the stock is owned by corporate insiders.
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NorthWestern Company Profile
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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