IFM Investors Pty Ltd lowered its holdings in NorthWestern Co. (NASDAQ:NWE – Get Rating) by 10.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,391 shares of the company's stock after selling 766 shares during the quarter. IFM Investors Pty Ltd's holdings in NorthWestern were worth $377,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the business. Cambridge Investment Research Advisors Inc. acquired a new stake in NorthWestern in the 2nd quarter valued at $220,000. Sound Income Strategies LLC boosted its holdings in NorthWestern by 11.9% during the 2nd quarter. Sound Income Strategies LLC now owns 59,655 shares of the company's stock worth $3,515,000 after acquiring an additional 6,329 shares during the last quarter. Walleye Capital LLC purchased a new position in NorthWestern during the 1st quarter worth $2,468,000. Toroso Investments LLC boosted its holdings in NorthWestern by 8.7% during the 1st quarter. Toroso Investments LLC now owns 4,202 shares of the company's stock worth $254,000 after acquiring an additional 336 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in NorthWestern by 178.4% during the 1st quarter. Advisors Asset Management Inc. now owns 75,437 shares of the company's stock worth $4,563,000 after acquiring an additional 48,336 shares during the last quarter.
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Insider Activity at NorthWestern
In other news, CEO Robert C. Rowe sold 4,000 shares of the company's stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $54.01, for a total transaction of $216,040.00. Following the sale, the chief executive officer now directly owns 193,116 shares in the company, valued at $10,430,195.16. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.17% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the stock. Bank of America downgraded shares of NorthWestern from a "neutral" rating to an "underperform" rating and lifted their price objective for the stock from $61.00 to $62.00 in a report on Tuesday, May 31st. Barclays cut their price objective on shares of NorthWestern from $62.00 to $57.00 and set an "equal weight" rating on the stock in a report on Monday, July 18th. KeyCorp lowered their target price on NorthWestern from $67.00 to $64.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 19th. Finally, TheStreet cut NorthWestern from a "b" rating to a "c+" rating in a research note on Monday, August 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $61.86.
NorthWestern Trading Down 2.9 %
NASDAQ NWE opened at $49.94 on Wednesday. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 6.99 and a beta of 0.41. NorthWestern Co. has a one year low of $49.74 and a one year high of $63.06. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.05 and a quick ratio of 0.79. The business's fifty day moving average is $54.53 and its 200-day moving average is $56.50.
NorthWestern (NASDAQ:NWE – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. NorthWestern had a return on equity of 7.59% and a net margin of 12.61%. The business had revenue of $323.00 million for the quarter, compared to analysts' expectations of $290.20 million. Equities research analysts predict that NorthWestern Co. will post 3.32 EPS for the current year.
NorthWestern Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date is Wednesday, September 14th. NorthWestern's dividend payout ratio is currently 77.30%.
About NorthWestern
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NorthWestern Corporation, doing business as NorthWestern Energy, provides electricity and natural gas to residential, commercial, and various industrial customers. The company operates through Electric and Natural Gas segments. It generates, purchases, transmits, and distributes electricity; and produces, purchases, stores, transmits, and distributes natural gas, as well as owns municipal franchises to provide natural gas service in the communities.
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