Schwab Charles Investment Management Inc. boosted its stake in NorthWestern Corporation (NYSE:NWE) by 7.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,615 shares of the utilities provider’s stock after purchasing an additional 22,443 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.63% of NorthWestern worth $17,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Suntrust Banks Inc. raised its stake in shares of NorthWestern by 0.3% during the second quarter. Suntrust Banks Inc. now owns 22,535 shares of the utilities provider’s stock worth $1,374,000 after acquiring an additional 70 shares in the last quarter. Amalgamated Bank raised its stake in shares of NorthWestern by 1.4% during the second quarter. Amalgamated Bank now owns 6,927 shares of the utilities provider’s stock worth $423,000 after acquiring an additional 93 shares in the last quarter. Arizona State Retirement System raised its stake in shares of NorthWestern by 1.5% during the second quarter. Arizona State Retirement System now owns 20,400 shares of the utilities provider’s stock worth $1,245,000 after acquiring an additional 300 shares in the last quarter. Comerica Bank raised its stake in shares of NorthWestern by 0.9% during the second quarter. Comerica Bank now owns 38,149 shares of the utilities provider’s stock worth $2,305,000 after acquiring an additional 345 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in shares of NorthWestern by 4.5% during the second quarter. Stifel Financial Corp now owns 8,166 shares of the utilities provider’s stock worth $497,000 after acquiring an additional 350 shares in the last quarter. 93.64% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have commented on NWE. KeyCorp reissued a “hold” rating on shares of NorthWestern in a research note on Friday, October 20th. Zacks Investment Research raised shares of NorthWestern from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Bank of America began coverage on shares of NorthWestern in a research note on Tuesday, October 24th. They set an “underperform” rating and a $54.00 price target on the stock. Finally, Credit Suisse Group decreased their target price on shares of NorthWestern from $60.00 to $58.00 and set an “underperform” rating on the stock in a research note on Friday, November 10th. Four research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The stock presently has a consensus rating of “Sell” and an average price target of $58.00.
NorthWestern Corporation (NYSE:NWE) opened at $59.47 on Thursday. 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 Corporation has a one year low of $55.65 and a one year high of $64.47. The company has a market cap of $2,911.78, a price-to-earnings ratio of 18.10, a P/E/G ratio of 11.51 and a beta of 0.37.
NorthWestern (NYSE:NWE) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $0.74 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.01). NorthWestern had a return on equity of 9.41% and a net margin of 12.44%. The firm had revenue of $309.90 million during the quarter, compared to analysts’ expectations of $305.60 million. During the same period in the previous year, the firm earned $0.68 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. analysts anticipate that NorthWestern Corporation will post 3.39 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend is Thursday, December 14th. NorthWestern’s payout ratio is 63.44%.
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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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