TIAA CREF Investment Management LLC boosted its holdings in NorthWestern Corporation (NYSE:NWE) by 8.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 147,225 shares of the utilities provider’s stock after buying an additional 11,423 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.30% of NorthWestern Corporation worth $8,984,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in NorthWestern Corporation by 25.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,983 shares of the utilities provider’s stock worth $116,000 after buying an additional 397 shares during the period. Meeder Asset Management Inc. bought a new position in NorthWestern Corporation in the 2nd quarter worth approximately $155,000. Riverhead Capital Management LLC increased its position in NorthWestern Corporation by 62.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,931 shares of the utilities provider’s stock worth $179,000 after buying an additional 1,131 shares during the period. North Star Investment Management Corp. increased its position in NorthWestern Corporation by 100.4% in the 2nd quarter. North Star Investment Management Corp. now owns 3,295 shares of the utilities provider’s stock worth $201,000 after buying an additional 1,651 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in NorthWestern Corporation by 2.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,956 shares of the utilities provider’s stock worth $232,000 after buying an additional 88 shares during the period. 98.33% of the stock is currently owned by institutional investors.
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In other news, CEO Robert C. Rowe sold 3,626 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $60.43, for a total transaction of $219,119.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.33% of the stock is currently owned by company insiders.
Several research analysts have commented on the company. Credit Suisse Group downgraded NorthWestern Corporation from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $62.00 to $60.00 in a research report on Monday, July 24th. Williams Capital lifted their price target on NorthWestern Corporation from $61.00 to $64.00 and gave the stock a “hold” rating in a research report on Wednesday, July 5th. BidaskClub downgraded NorthWestern Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Finally, Zacks Investment Research raised NorthWestern Corporation from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Friday, July 7th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. NorthWestern Corporation presently has a consensus rating of “Sell” and an average target price of $60.00.
Shares of NorthWestern Corporation (NWE) opened at 58.63 on Wednesday. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 17.00 and a beta of 0.36. NorthWestern Corporation has a one year low of $54.07 and a one year high of $63.86. The stock’s 50 day moving average price is $58.70 and its 200 day moving average price is $60.12.
NorthWestern Corporation (NYSE:NWE) last announced its earnings results on Tuesday, July 25th. The utilities provider reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.15). The firm had revenue of $283.86 million for the quarter, compared to the consensus estimate of $302.42 million. NorthWestern Corporation had a return on equity of 9.31% and a net margin of 13.17%. NorthWestern Corporation’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the business posted $0.65 EPS. On average, equities analysts anticipate that NorthWestern Corporation will post $3.39 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 3.58%. NorthWestern Corporation’s dividend payout ratio (DPR) is currently 60.34%.
NorthWestern Corporation 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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