Peregrine Capital Management LLC raised its position in NorthWestern Corp (NYSE:NWE) by 30.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 90,872 shares of the utilities provider’s stock after buying an additional 21,133 shares during the period. Peregrine Capital Management LLC owned 0.18% of NorthWestern worth $4,954,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Harbor Investment Advisory LLC purchased a new stake in shares of NorthWestern during the 1st quarter worth approximately $25,000. Balentine LLC purchased a new stake in shares of NorthWestern during the 1st quarter worth approximately $28,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of NorthWestern during the 1st quarter worth approximately $77,000. FDx Advisors Inc. purchased a new stake in shares of NorthWestern during the 1st quarter worth approximately $460,000. Finally, IndexIQ Advisors LLC purchased a new stake in shares of NorthWestern during the 1st quarter worth approximately $182,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.
In other NorthWestern news, CEO Robert C. Rowe sold 1,000 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $55.45, for a total value of $55,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.17% of the stock is owned by company insiders.
NorthWestern (NYSE:NWE) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.07). NorthWestern had a net margin of 12.74% and a return on equity of 7.89%. The firm had revenue of $269.36 million during the quarter, compared to the consensus estimate of $252.41 million. During the same period in the previous year, the business earned $0.50 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts expect that NorthWestern Corp will post 3.35 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend is Monday, September 14th. NorthWestern’s payout ratio is 70.18%.
NWE has been the subject of several research analyst reports. Zacks Investment Research lowered shares of NorthWestern from a “hold” rating to a “sell” rating in a research note on Tuesday, June 9th. TheStreet lowered shares of NorthWestern from a “b-” rating to a “c+” rating in a research note on Monday, July 20th. Sidoti raised shares of NorthWestern from a “neutral” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Wednesday, July 15th. Wells Fargo & Co cut their price objective on shares of NorthWestern from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, June 17th. Finally, Barclays raised shares of NorthWestern from an “underweight” rating to an “equal weight” rating and set a $66.00 price objective for the company in a report on Tuesday, April 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $65.14.
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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