Credit Suisse Group Trims NorthWestern Corporation (NWE) Target Price to $58.00
NorthWestern Corporation (NYSE:NWE) had its price objective reduced by Credit Suisse Group from $60.00 to $58.00 in a report released on Friday. They currently have an underperform rating on the utilities provider’s stock.
NWE has been the subject of a number of other reports. Zacks Investment Research cut NorthWestern Corporation from a buy rating to a hold rating in a research note on Saturday, July 29th. BidaskClub cut NorthWestern Corporation from a hold rating to a sell rating in a research note on Sunday, July 30th. KeyCorp reissued a hold rating on shares of NorthWestern Corporation in a research note on Friday, October 20th. Williams Capital cut NorthWestern Corporation from a hold rating to a sell rating and decreased their target price for the company from $64.00 to $52.00 in a research note on Monday, July 31st. Finally, Bank of America Corporation began coverage on NorthWestern Corporation in a research note on Tuesday, October 24th. They issued an underperform rating and a $54.00 target price for the company. Four equities research 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 an average target price of $58.00.
Shares of NorthWestern Corporation (NWE) opened at $60.34 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. NorthWestern Corporation has a 52 week low of $54.07 and a 52 week high of $63.86. The company has a market capitalization of $2,932.19, a price-to-earnings ratio of 18.23, a P/E/G ratio of 11.59 and a beta of 0.35.
NorthWestern Corporation (NYSE:NWE) last announced its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). NorthWestern Corporation had a return on equity of 9.41% and a net margin of 12.44%. The company had revenue of $309.90 million for the quarter, compared to analyst estimates of $305.60 million. During the same period last year, the firm earned $0.68 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. analysts anticipate that NorthWestern Corporation will post 3.39 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.525 per share. The ex-dividend date is Thursday, December 14th. This represents a $2.10 annualized dividend and a dividend yield of 3.48%. NorthWestern Corporation’s dividend payout ratio is currently 63.44%.
In other news, CEO Robert C. Rowe sold 3,626 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $60.43, for a total transaction of $219,119.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.33% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Suntrust Banks Inc. boosted its position in shares of NorthWestern Corporation by 0.3% during the second quarter. Suntrust Banks Inc. now owns 22,535 shares of the utilities provider’s stock worth $1,374,000 after buying an additional 70 shares during the period. Amalgamated Bank raised its holdings in NorthWestern Corporation by 1.4% during the second quarter. Amalgamated Bank now owns 6,927 shares of the utilities provider’s stock worth $423,000 after acquiring an additional 93 shares in the last quarter. Capstone Asset Management Co. raised its holdings in NorthWestern Corporation by 7.6% during the second quarter. Capstone Asset Management Co. now owns 4,120 shares of the utilities provider’s stock worth $251,000 after acquiring an additional 290 shares in the last quarter. Arizona State Retirement System raised its holdings in NorthWestern Corporation by 1.5% during the second quarter. Arizona State Retirement System now owns 20,400 shares of the utilities provider’s stock worth $1,245,000 after acquiring an additional 300 shares in the last quarter. Finally, Comerica Bank raised its holdings in NorthWestern Corporation by 0.9% during the second quarter. Comerica Bank now owns 38,149 shares of the utilities provider’s stock worth $2,305,000 after acquiring an additional 345 shares in the last quarter. 96.97% of the stock is owned by institutional investors.
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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