NorthWestern Corp (NWE) Stake Lifted by Empire Life Investments Inc.

Empire Life Investments Inc. increased its position in shares of NorthWestern Corp (NYSE:NWE) by 3.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,634 shares of the utilities provider’s stock after purchasing an additional 267 shares during the quarter. Empire Life Investments Inc.’s holdings in NorthWestern were worth $538,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Metropolitan Life Insurance Co. NY increased its position in shares of NorthWestern by 72.0% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 28,945 shares of the utilities provider’s stock worth $1,720,000 after purchasing an additional 12,114 shares in the last quarter. Norges Bank purchased a new stake in shares of NorthWestern during the fourth quarter worth approximately $37,535,000. Bank of New York Mellon Corp increased its position in shares of NorthWestern by 1.5% during the third quarter. Bank of New York Mellon Corp now owns 1,414,720 shares of the utilities provider’s stock worth $82,987,000 after purchasing an additional 20,764 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of NorthWestern by 169.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 204,872 shares of the utilities provider’s stock worth $12,178,000 after purchasing an additional 128,742 shares in the last quarter. Finally, Texas Permanent School Fund increased its position in shares of NorthWestern by 4.0% during the fourth quarter. Texas Permanent School Fund now owns 32,929 shares of the utilities provider’s stock worth $1,957,000 after purchasing an additional 1,269 shares in the last quarter. Hedge funds and other institutional investors own 97.43% of the company’s stock.

In other news, Director Jan Robert Horsfall sold 2,300 shares of the company’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $67.34, for a total value of $154,882.00. Following the transaction, the director now owns 3,905 shares of the company’s stock, valued at approximately $262,962.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Curtis T. Pohl sold 2,200 shares of the company’s stock in a transaction on Tuesday, February 19th. The shares were 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. In the last ninety days, insiders sold 6,156 shares of company stock worth $411,430. Corporate insiders own 1.17% of the company’s stock.

NWE has been the subject of several research reports. Williams Capital reiterated a “sell” rating on shares of NorthWestern in a research report on Monday, March 18th. Zacks Investment Research raised NorthWestern from a “hold” rating to a “strong-buy” rating and set a $80.00 price objective on the stock in a research note on Wednesday, April 17th. Bank of America reissued an “underperform” rating and set a $55.00 price objective on shares of NorthWestern in a research note on Thursday, March 14th. Credit Suisse Group lowered their price objective on NorthWestern from $60.00 to $56.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 13th. Finally, Barclays lowered NorthWestern from an “equal weight” rating to an “underweight” rating and boosted their price objective for the stock from $62.00 to $65.00 in a research note on Wednesday, March 20th. Four equities research analysts have rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $64.00.

NYSE NWE opened at $69.70 on Friday. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 8.02 and a beta of 0.33. The company has a current ratio of 0.83, a quick ratio of 0.69 and a debt-to-equity ratio of 1.06. NorthWestern Corp has a fifty-two week low of $51.53 and a fifty-two week high of $71.77.

NorthWestern (NYSE:NWE) last released its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.05. NorthWestern had a return on equity of 9.80% and a net margin of 17.11%. The company had revenue of $384.22 million for the quarter. Equities analysts anticipate that NorthWestern Corp will post 3.38 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Thursday, June 13th. NorthWestern’s dividend payout ratio (DPR) is presently 67.85%.

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NorthWestern Company Profile

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.

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Institutional Ownership by Quarter for NorthWestern (NYSE:NWE)

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