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Exchange Traded Concepts LLC Boosts Holdings in NorthWestern Co. (NASDAQ:NWE)

Defense World · Oct 4, 2022 04:52

Exchange Traded Concepts LLC boosted its position in NorthWestern Co. (NASDAQ:NWE – Get Rating) by 2.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,367 shares of the company's stock after purchasing an additional 236 shares during the quarter. Exchange Traded Concepts LLC's holdings in NorthWestern were worth $611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Quadrant Capital Group LLC raised its position in shares of NorthWestern by 108.8% during the 1st quarter. Quadrant Capital Group LLC now owns 543 shares of the company's stock valued at $33,000 after buying an additional 283 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of NorthWestern by 79.7% during the 1st quarter. Captrust Financial Advisors now owns 1,612 shares of the company's stock valued at $98,000 after purchasing an additional 715 shares during the last quarter. Strs Ohio grew its holdings in shares of NorthWestern by 166.7% during the 1st quarter. Strs Ohio now owns 2,400 shares of the company's stock valued at $145,000 after purchasing an additional 1,500 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of NorthWestern during the 1st quarter valued at $200,000. Finally, Hightower 6M Holding LLC bought a new position in shares of NorthWestern during the 1st quarter valued at $218,000.

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Analysts Set New Price Targets

NWE has been the topic of several recent research reports. Bank of America raised shares of NorthWestern from an "underperform" rating to a "buy" rating and reduced their target price for the company from $58.00 to $56.00 in a report on Thursday, September 29th. TheStreet lowered shares of NorthWestern from a "b" rating to a "c+" rating in a research note on Monday, August 29th. Barclays cut their target price on shares of NorthWestern from $62.00 to $57.00 and set an "equal weight" rating on the stock in a research note on Monday, July 18th. Finally, KeyCorp cut their target price on shares of NorthWestern from $67.00 to $64.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 19th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $61.00.

Insider Activity at NorthWestern

In other NorthWestern news, CEO Robert C. Rowe sold 4,000 shares of the company's stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $54.01, for a total value of $216,040.00. Following the completion of the transaction, the chief executive officer now directly owns 193,116 shares in the company, valued at $10,430,195.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.17% of the stock is currently owned by company insiders.

NorthWestern Stock Performance

Shares of NWE stock opened at $50.80 on Tuesday. The company has a 50 day moving average price of $54.21 and a 200-day moving average price of $56.17. NorthWestern Co. has a 52 week low of $49.05 and a 52 week high of $63.06. The firm has a market capitalization of $2.85 billion, a PE ratio of 15.58, a P/E/G ratio of 8.54 and a beta of 0.44. The company has a quick ratio of 0.79, a current ratio of 1.05 and a debt-to-equity ratio of 1.03.

NorthWestern (NASDAQ:NWE – Get Rating) last announced its earnings results on Wednesday, July 27th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The company had revenue of $323.00 million during the quarter, compared to analyst estimates of $290.20 million. NorthWestern had a net margin of 12.61% and a return on equity of 7.59%. As a group, equities research analysts expect that NorthWestern Co. will post 3.32 earnings per share for the current year.

NorthWestern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were given a dividend of $0.63 per share. The ex-dividend date was Wednesday, September 14th. This represents a $2.52 annualized dividend and a yield of 4.96%. NorthWestern's dividend payout ratio (DPR) is 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.