NorthWestern Corporation (NWE) to Distribute Quarterly Dividend of $0.67 on September 1st

NorthWestern Corporation (NASDAQ:NWE) announced a quarterly dividend on Wednesday, July 29th. Stockholders of record on Monday, August 17th will be given a dividend of 0.67 per share on Tuesday, September 1st. This represents a c) annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, August 17th.

NorthWestern has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 21 consecutive years. NorthWestern has a dividend payout ratio of 69.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect NorthWestern to earn $3.99 per share next year, which means the company should continue to be able to cover its $2.68 annual dividend with an expected future payout ratio of 67.2%.

NorthWestern Stock Down 1.2%

Shares of NASDAQ:NWE opened at $69.73 on Friday. NorthWestern has a 52-week low of $52.24 and a 52-week high of $75.18. The firm has a fifty day moving average of $71.06 and a 200 day moving average of $69.80. The firm has a market capitalization of $4.29 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 3.73 and a beta of 0.34. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.52 and a current ratio of 0.70.

NorthWestern (NASDAQ:NWE) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. NorthWestern had a return on equity of 8.03% and a net margin of 10.13%.The business had revenue of $392.60 million for the quarter. During the same quarter in the previous year, the business earned $0.40 EPS. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. As a group, research analysts anticipate that NorthWestern will post 3.75 EPS for the current fiscal year.

Hedge Funds Weigh In On NorthWestern

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP grew its position in shares of NorthWestern by 263.3% in the 3rd quarter. Allworth Financial LP now owns 436 shares of the company’s stock worth $26,000 after buying an additional 316 shares during the period. IFP Advisors Inc lifted its holdings in shares of NorthWestern by 142.0% during the fourth quarter. IFP Advisors Inc now owns 455 shares of the company’s stock valued at $29,000 after purchasing an additional 267 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of NorthWestern by 3,221.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 465 shares of the company’s stock worth $27,000 after purchasing an additional 451 shares in the last quarter. PenderFund Capital Management Ltd. bought a new stake in shares of NorthWestern in the 3rd quarter worth approximately $37,000. Finally, Daiwa Securities Group Inc. increased its position in NorthWestern by 34.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 845 shares of the company’s stock valued at $43,000 after buying an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

NorthWestern Company Profile

NorthWestern Corporation (NASDAQ: NWE) is a regulated energy company that delivers electricity and natural gas to residential, commercial and industrial customers. Through its Electric Operations and Gas Operations segments, the company operates an extensive network of distribution lines, substations and pipelines. NorthWestern’s services encompass the delivery of power sourced from regional transmission systems and the procurement, storage and distribution of natural gas to end users.

Electric delivery services include the management of distribution infrastructure, customer metering and system reliability programs.