NorthWestern Corporation (NASDAQ:NWE – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $80.21 and last traded at $79.3690, with a volume of 3,594 shares traded. The stock had previously closed at $78.45.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the stock. Wells Fargo & Company raised shares of NorthWestern from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $70.00 to $90.00 in a research note on Monday. Weiss Ratings upgraded shares of NorthWestern from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Jefferies Financial Group started coverage on shares of NorthWestern in a research note on Thursday, October 15th. They set a “buy” rating and a $85.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on NorthWestern from $76.00 to $73.00 and set a “neutral” rating on the stock in a report on Wednesday, September 9th. Finally, Barclays dropped their price target on shares of NorthWestern from $73.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, October 6th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $77.25.
View Our Latest Analysis on NWE
NorthWestern Stock Performance
The stock’s 50-day simple moving average is $71.41 and its 200 day simple moving average is $70.21. The company has a market capitalization of $4.87 billion, a PE ratio of 28.62 and a beta of 0.30.
NorthWestern (NASDAQ:NWE – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. The business had revenue of $392.60 million during the quarter, compared to analyst estimates of $386.22 million. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period last year, the company earned $0.40 earnings per share. On average, analysts expect that NorthWestern Corporation will post 3.71 earnings per share for the current year.
Hedge Funds Weigh In On NorthWestern
Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC increased its position in NorthWestern by 4.8% during the second quarter. GAMMA Investing LLC now owns 3,981 shares of the company’s stock worth $285,000 after purchasing an additional 182 shares during the last quarter. Farther Finance Advisors LLC grew its position in NorthWestern by 8.2% during the third quarter. Farther Finance Advisors LLC now owns 2,635 shares of the company’s stock valued at $180,000 after acquiring an additional 199 shares during the period. State of Michigan Retirement System increased its stake in NorthWestern by 2.1% during the first quarter. State of Michigan Retirement System now owns 14,828 shares of the company’s stock worth $978,000 after acquiring an additional 300 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of NorthWestern by 2.4% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 12,610 shares of the company’s stock worth $832,000 after purchasing an additional 300 shares during the period. Finally, North Star Investment Management Corp. increased its position in NorthWestern by 0.7% during the 3rd quarter. North Star Investment Management Corp. now owns 51,026 shares of the company’s stock worth $3,489,000 after purchasing an additional 331 shares in the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.
About NorthWestern
NorthWestern Energy Group, Inc, doing business as NorthWestern Energy, is a regulated electric and natural gas utility headquartered in Sioux Falls, South Dakota. The company generates, purchases, transmits and distributes electricity, and provides natural gas distribution and related services to residential, commercial, industrial and agricultural customers.
NorthWestern Energy serves customers primarily in Montana, South Dakota and Nebraska. Its operations include electric generation facilities and transmission and distribution networks, as well as natural gas pipelines and distribution systems.
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