Dimensional Fund Advisors LP Acquires 30,163 Shares of NorthWestern Corp (NWE)
Dimensional Fund Advisors LP lifted its holdings in NorthWestern Corp (NYSE:NWE) by 3.0% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,043,011 shares of the utilities provider’s stock after acquiring an additional 30,163 shares during the quarter. Dimensional Fund Advisors LP owned 2.07% of NorthWestern worth $59,712,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Sei Investments Co. lifted its holdings in shares of NorthWestern by 11.4% in the 2nd quarter. Sei Investments Co. now owns 46,965 shares of the utilities provider’s stock worth $2,689,000 after acquiring an additional 4,806 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of NorthWestern in the 2nd quarter worth approximately $132,000. Martingale Asset Management L P lifted its holdings in shares of NorthWestern by 2.8% in the 2nd quarter. Martingale Asset Management L P now owns 145,146 shares of the utilities provider’s stock worth $8,310,000 after acquiring an additional 4,006 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of NorthWestern by 6.4% in the 1st quarter. Northern Trust Corp now owns 1,465,912 shares of the utilities provider’s stock worth $78,866,000 after acquiring an additional 88,251 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its holdings in shares of NorthWestern by 10.2% in the 1st quarter. Guggenheim Capital LLC now owns 35,407 shares of the utilities provider’s stock worth $1,903,000 after acquiring an additional 3,268 shares during the last quarter. Hedge funds and other institutional investors own 95.31% of the company’s stock.
Shares of NYSE NWE opened at $59.14 on Monday. The company has a current ratio of 0.77, a quick ratio of 0.62 and a debt-to-equity ratio of 1.07. NorthWestern Corp has a 52 week low of $50.01 and a 52 week high of $64.47. The firm has a market capitalization of $2.98 billion, a P/E ratio of 17.92, a PEG ratio of 7.58 and a beta of 0.13.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Thursday, September 13th. NorthWestern’s payout ratio is 66.67%.
In related news, VP Curtis T. Pohl sold 1,200 shares of NorthWestern stock in a transaction on Friday, July 27th. The shares were sold at an average price of $58.73, for a total value of $70,476.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.40% of the stock is owned by insiders.
A number of equities research analysts have recently weighed in on NWE shares. Credit Suisse Group boosted their price objective on shares of NorthWestern from $54.00 to $55.00 and gave the stock a “$58.28” rating in a report on Thursday, July 19th. Zacks Investment Research upgraded shares of NorthWestern from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Saturday, June 16th. Barclays began coverage on shares of NorthWestern in a research note on Tuesday, July 10th. They issued an “equal weight” rating and a $60.00 target price on the stock. ValuEngine raised shares of NorthWestern from a “sell” rating to a “hold” rating in a research note on Monday, July 2nd. Finally, Wells Fargo & Co lifted their target price on shares of NorthWestern from $59.00 to $61.00 and gave the stock a “market perform” rating in a research note on Monday, September 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $59.40.
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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