Nisa Investment Advisors LLC lifted its holdings in shares of NorthWestern Corp (NYSE:NWE) by 3.7% during the first quarter, Holdings Channel reports. The fund owned 67,125 shares of the utilities provider’s stock after purchasing an additional 2,400 shares during the quarter. Nisa Investment Advisors LLC’s holdings in NorthWestern were worth $4,726,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC increased its position in shares of NorthWestern by 41.3% during the fourth quarter. Parallel Advisors LLC now owns 571 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 167 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in NorthWestern by 4.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 4,630 shares of the utilities provider’s stock valued at $275,000 after buying an additional 180 shares during the last quarter. First Mercantile Trust Co. increased its holdings in NorthWestern by 6.7% in the fourth quarter. First Mercantile Trust Co. now owns 3,030 shares of the utilities provider’s stock valued at $180,000 after buying an additional 190 shares during the last quarter. Empire Life Investments Inc. boosted its stake in NorthWestern by 3.2% in the fourth quarter. Empire Life Investments Inc. now owns 7,367 shares of the utilities provider’s stock valued at $438,000 after acquiring an additional 225 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in NorthWestern by 9.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,249 shares of the utilities provider’s stock valued at $193,000 after acquiring an additional 294 shares during the period. 97.56% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE NWE opened at $68.24 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.65. The company has a market cap of $3.44 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 8.26 and a beta of 0.34. NorthWestern Corp has a 12-month low of $51.53 and a 12-month high of $71.77.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.575 per share. The ex-dividend date was Thursday, March 14th. This is an increase from NorthWestern’s previous quarterly dividend of $0.55. This represents a $2.30 annualized dividend and a dividend yield of 3.37%. NorthWestern’s payout ratio is currently 67.85%.
A number of equities analysts have commented on NWE shares. Bank of America restated an “underperform” rating and issued a $55.00 target price on shares of NorthWestern in a research note on Thursday, March 14th. Barclays downgraded NorthWestern from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $62.00 to $65.00 in a research note on Wednesday, March 20th. Zacks Investment Research upgraded NorthWestern from a “hold” rating to a “strong-buy” rating and set a $80.00 target price for the company in a research note on Wednesday, April 17th. Credit Suisse Group decreased their target price on NorthWestern from $60.00 to $56.00 and set an “underperform” rating for the company in a research note on Wednesday, February 13th. Finally, Williams Capital restated a “sell” rating on shares of NorthWestern in a research note on Monday, March 18th. Four equities research analysts have rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $64.00.
In other news, Director Jan Robert Horsfall sold 2,300 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $67.34, for a total transaction of $154,882.00. Following the completion of the transaction, the director now directly owns 3,905 shares in the company, valued at $262,962.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Curtis T. Pohl sold 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $65.54, for a total value of $144,188.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,156 shares of company stock valued at $411,430. Insiders own 1.17% of the company’s stock.
NorthWestern Corporation, doing business as NorthWestern Energy, provides electricity and natural gas to residential, commercial, and industrial customers. The company operates through Electric Operations and Natural Gas Operations segments. It generates, transmits, and distributes electricity; and produces, stores, transmits, and distributes natural gas, as well as owns municipal franchises to provide natural gas service in the communities.
Further Reading: Special Dividends
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