Municipal Employees Retirement System of Michigan Has $835,000 Holdings in NorthWestern Corporation (NWE)
Municipal Employees Retirement System of Michigan lowered its position in NorthWestern Corporation (NYSE:NWE) by 21.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,660 shares of the utilities provider’s stock after selling 4,040 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in NorthWestern were worth $835,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of NWE. Riverhead Capital Management LLC raised its position in shares of NorthWestern by 62.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,931 shares of the utilities provider’s stock worth $179,000 after purchasing an additional 1,131 shares during the last quarter. Stevens Capital Management LP acquired a new position in shares of NorthWestern during the 2nd quarter worth about $201,000. Legg Mason Asset Management Japan Co. Ltd. acquired a new position in shares of NorthWestern during the 2nd quarter worth about $207,000. Prudential PLC acquired a new position in shares of NorthWestern during the 2nd quarter worth about $207,000. Finally, Shelton Capital Management acquired a new position in shares of NorthWestern during the 2nd quarter worth about $222,000. Institutional investors and hedge funds own 94.69% of the company’s stock.
In related news, CEO Robert C. Rowe sold 3,626 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $60.43, for a total transaction of $219,119.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.33% of the stock is currently owned by corporate insiders.
Several research firms recently weighed in on NWE. Williams Capital downgraded shares of NorthWestern from a “hold” rating to a “sell” rating and reduced their price target for the stock from $64.00 to $52.00 in a research report on Monday, July 31st. BidaskClub downgraded shares of NorthWestern from a “hold” rating to a “sell” rating in a research report on Sunday, July 30th. KeyCorp restated a “hold” rating on shares of NorthWestern in a research report on Friday, October 20th. Zacks Investment Research upgraded shares of NorthWestern from a “sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Finally, Credit Suisse Group reduced their price target on shares of NorthWestern from $60.00 to $58.00 and set an “underperform” rating for the company in a research report on Friday, November 10th. Four equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. NorthWestern has a consensus rating of “Sell” and an average target price of $58.00.
NorthWestern Corporation (NYSE:NWE) traded up $0.22 on Monday, hitting $62.22. 94,300 shares of the company traded hands, compared to its average volume of 367,582. NorthWestern Corporation has a 52-week low of $54.07 and a 52-week high of $63.86. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.33 and a current ratio of 0.42. The firm has a market cap of $3,020.00, a P/E ratio of 18.80, a PEG ratio of 11.96 and a beta of 0.35.
NorthWestern (NYSE:NWE) last released its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.01). NorthWestern 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 quarter last year, the company earned $0.68 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. sell-side analysts expect that NorthWestern Corporation will post 3.39 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.10 annualized dividend and a yield of 3.38%. NorthWestern’s dividend payout ratio is presently 63.25%.
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NorthWestern 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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