NorthWestern (NWE) Given New $58.00 Price Target at Credit Suisse Group

NorthWestern (NYSE:NWE) had its price target cut by Credit Suisse Group from $60.00 to $58.00 in a research note published on Friday, November 10th. They currently have an underperform rating on the utilities provider’s stock.

A number of other brokerages have also recently weighed in on NWE. BidaskClub raised shares of NorthWestern from a strong sell rating to a sell rating in a report on Tuesday, August 8th. Bank of America started coverage on shares of NorthWestern in a report on Tuesday, October 24th. They issued an underperform rating and a $54.00 price objective on the stock. Williams Capital cut shares of NorthWestern from a hold rating to a sell rating and dropped their price objective for the stock from $64.00 to $52.00 in a report on Monday, July 31st. KeyCorp reiterated a hold rating on shares of NorthWestern in a research report on Friday, October 20th. Finally, Zacks Investment Research upgraded shares of NorthWestern from a sell rating to a hold rating in a research report on Wednesday, November 1st. Four analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The stock has an average rating of Sell and a consensus target price of $58.00.

Shares of NorthWestern (NWE) traded up $0.29 during mid-day trading on Friday, hitting $63.46. 315,600 shares of the stock traded hands, compared to its average volume of 367,769. The stock has a market capitalization of $3,023.55, a P/E ratio of 18.80, a PEG ratio of 11.96 and a beta of 0.35. The company has a quick ratio of 0.33, a current ratio of 0.42 and a debt-to-equity ratio of 1.05. NorthWestern has a fifty-two week low of $54.07 and a fifty-two week high of $64.04.

NorthWestern (NYSE:NWE) last posted its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.74 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.01). NorthWestern had a net margin of 12.44% and a return on equity of 9.41%. The company had revenue of $309.90 million for the quarter, compared to the consensus estimate of $305.60 million. During the same quarter last year, the company earned $0.68 earnings per share. The company’s revenue was up 3.0% compared to the same quarter last year. research analysts forecast that NorthWestern will post 3.39 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Thursday, December 14th. NorthWestern’s dividend payout ratio (DPR) is 63.44%.

In other news, CEO Robert C. Rowe sold 3,626 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $60.43, for a total value of $219,119.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.33% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of NWE. Meeder Asset Management Inc. bought a new position in shares of NorthWestern in the second quarter valued at approximately $155,000. Riverhead Capital Management LLC raised its position in shares of NorthWestern by 62.8% in the second quarter. Riverhead Capital Management LLC now owns 2,931 shares of the utilities provider’s stock valued at $179,000 after purchasing an additional 1,131 shares during the period. North Star Investment Management Corp. raised its position in shares of NorthWestern by 100.4% in the second quarter. North Star Investment Management Corp. now owns 3,295 shares of the utilities provider’s stock valued at $201,000 after purchasing an additional 1,651 shares during the period. Stevens Capital Management LP bought a new position in shares of NorthWestern in the second quarter valued at approximately $201,000. Finally, Legg Mason Asset Management Japan Co. Ltd. acquired a new stake in shares of NorthWestern in the second quarter worth $207,000. 93.70% of the stock is currently owned by hedge funds and other institutional investors.

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NorthWestern Company Profile

NorthWestern Corporation, doing business as North-Western Energy, provides electricity and natural gas. The Company’s segments are Electric operations, Natural gas operations and All other. As of December 31, 2016, the Company provided electricity and natural gas to approximately 709,600 customers in Montana, South Dakota and Nebraska.

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