NorthWestern Corporation (NWE) Issues Earnings Results
NorthWestern Corporation (NYSE:NWE) issued its quarterly earnings data on Wednesday. The utilities provider reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01), Bloomberg Earnings reports. The company had revenue of $309.90 million for the quarter, compared to the consensus estimate of $305.60 million. NorthWestern Corporation had a return on equity of 9.45% and a net margin of 12.44%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 earnings per share. NorthWestern Corporation updated its FY17 guidance to $3.30-$3.45 EPS.
NorthWestern Corporation (NYSE:NWE) traded up $59.74 during mid-day trading on Friday, hitting $59.74. The stock had a trading volume of 101,891 shares, compared to its average volume of 313,087,
The company has a market capitalization of $$2,884.08, a P/E ratio of 17.93 and a beta of 0.35. The company has a market capitalization of $$2,884.08 and a P/E ratio of 17.93.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Thursday, December 14th. NorthWestern Corporation’s dividend payout ratio is presently 63.44%.
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A number of analysts have commented on the company. Zacks Investment Research raised NorthWestern Corporation from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Friday, July 7th. Credit Suisse Group lowered NorthWestern Corporation from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $62.00 to $60.00 in a report on Monday, July 24th. BidaskClub lowered NorthWestern Corporation from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. KeyCorp reissued a “hold” rating on shares of NorthWestern Corporation in a report on Friday, October 20th. Finally, Williams Capital lowered NorthWestern Corporation from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $64.00 to $52.00 in a report on Monday, July 31st. Four analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The stock currently has an average rating of “Sell” and a consensus target price of $58.50.
In other news, CEO Robert C. Rowe sold 3,626 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $60.43, for a total value of $219,119.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.33% of the company’s stock.
About NorthWestern Corporation
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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