Virginia Retirement Systems ET AL Invests $1.26 Million in NorthWestern Corporation (NWE)
Virginia Retirement Systems ET AL bought a new stake in shares of NorthWestern Corporation (NYSE:NWE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 20,600 shares of the utilities provider’s stock, valued at approximately $1,257,000.
Other institutional investors have also recently bought and sold shares of the company. US Bancorp DE raised its position in NorthWestern Corporation by 1.8% in the first quarter. US Bancorp DE now owns 22,069 shares of the utilities provider’s stock valued at $1,295,000 after buying an additional 381 shares during the last quarter. Advisors Asset Management Inc. raised its position in NorthWestern Corporation by 2.1% in the first quarter. Advisors Asset Management Inc. now owns 37,891 shares of the utilities provider’s stock valued at $2,224,000 after buying an additional 777 shares during the last quarter. First Trust Advisors LP raised its position in NorthWestern Corporation by 34.2% in the first quarter. First Trust Advisors LP now owns 165,867 shares of the utilities provider’s stock valued at $9,736,000 after buying an additional 42,300 shares during the last quarter. LSV Asset Management purchased a new position in NorthWestern Corporation during the first quarter valued at $622,000. Finally, State Treasurer State of Michigan raised its position in NorthWestern Corporation by 0.5% in the first quarter. State Treasurer State of Michigan now owns 19,600 shares of the utilities provider’s stock valued at $1,151,000 after buying an additional 100 shares during the last quarter. Institutional investors own 98.40% of the company’s stock.
NorthWestern Corporation (NWE) opened at 60.23 on Friday. NorthWestern Corporation has a 12-month low of $53.85 and a 12-month high of $63.86. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 17.46 and a beta of 0.36. The firm has a 50-day moving average of $60.02 and a 200 day moving average of $59.97.
NorthWestern Corporation (NYSE:NWE) last released its quarterly earnings results on Tuesday, July 25th. The utilities provider reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.15. NorthWestern Corporation had a return on equity of 9.31% and a net margin of 13.17%. The firm had revenue of $283.86 million for the quarter, compared to analyst estimates of $302.42 million. During the same period in the prior year, the business earned $0.65 earnings per share. NorthWestern Corporation’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities analysts predict that NorthWestern Corporation will post $3.39 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.525 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.10 annualized dividend and a dividend yield of 3.49%. NorthWestern Corporation’s dividend payout ratio is presently 60.34%.
Several equities analysts have weighed in on the stock. BidaskClub upgraded shares of NorthWestern Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Zacks Investment Research lowered shares of NorthWestern Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Credit Suisse Group lowered shares of NorthWestern Corporation from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $62.00 to $60.00 in a report on Monday, July 24th. Finally, Williams Capital boosted their target price on shares of NorthWestern Corporation from $61.00 to $64.00 and gave the company a “hold” rating in a report on Wednesday, July 5th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The company currently has an average rating of “Sell” and a consensus target price of $60.00.
In related news, VP Patrick R. Corcoran sold 7,487 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $62.72, for a total value of $469,584.64. Following the sale, the vice president now directly owns 13,259 shares of the company’s stock, valued at $831,604.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.33% of the stock is currently owned by company insiders.
NorthWestern Corporation 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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