NorthWestern Corporation (NWE) Position Trimmed by Royal Bank of Canada
Royal Bank of Canada trimmed its holdings in shares of NorthWestern Corporation (NYSE:NWE) by 3.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 264,746 shares of the utilities provider’s stock after selling 9,226 shares during the period. Royal Bank of Canada owned approximately 0.55% of NorthWestern Corporation worth $16,155,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Meeder Asset Management Inc. acquired a new position in NorthWestern Corporation in the 2nd quarter worth about $155,000. Riverhead Capital Management LLC increased its position in NorthWestern Corporation by 62.8% in 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. North Star Investment Management Corp. increased its position in NorthWestern Corporation by 100.4% in the 2nd quarter. North Star Investment Management Corp. now owns 3,295 shares of the utilities provider’s stock worth $201,000 after purchasing an additional 1,651 shares during the last quarter. Stevens Capital Management LP acquired a new position in NorthWestern Corporation in the 2nd quarter worth about $201,000. Finally, Legg Mason Asset Management Japan Co. Ltd. acquired a new position in NorthWestern Corporation in the 2nd quarter worth about $207,000. 98.33% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Robert C. Rowe sold 3,626 shares of NorthWestern Corporation stock in a transaction dated 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 filing with the SEC, which is available at this link. 1.33% of the stock is currently owned by insiders.
NorthWestern Corporation (NYSE:NWE) opened at 58.44 on Friday. NorthWestern Corporation has a one year low of $54.07 and a one year high of $63.86. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 16.94 and a beta of 0.36. The stock’s 50 day moving average price is $58.76 and its 200-day moving average price is $60.11.
NorthWestern Corporation (NYSE:NWE) last issued its quarterly earnings results on Tuesday, July 25th. The utilities provider reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.15). The firm had revenue of $283.86 million during the quarter, compared to the consensus estimate of $302.42 million. NorthWestern Corporation had a net margin of 13.17% and a return on equity of 9.31%. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. Analysts forecast that NorthWestern Corporation will post $3.39 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend was Thursday, September 14th. NorthWestern Corporation’s dividend payout ratio is currently 60.34%.
Several research analysts have weighed in on the company. BidaskClub raised NorthWestern Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Credit Suisse Group lowered NorthWestern Corporation from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $62.00 to $60.00 in a research report on Monday, July 24th. Williams Capital upped their target price on NorthWestern Corporation from $61.00 to $64.00 and gave the stock a “hold” rating in a research report on Wednesday, July 5th. Finally, Zacks Investment Research raised NorthWestern Corporation from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Friday, July 7th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company. The company presently has an average rating of “Sell” and an average target price of $60.00.
NorthWestern Corporation 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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