Y Intercept Hong Kong Ltd lifted its position in NorthWestern Corporation (NASDAQ:NWE – Free Report) by 81.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 17,698 shares of the company’s stock after purchasing an additional 7,951 shares during the period. Y Intercept Hong Kong Ltd’s holdings in NorthWestern were worth $1,167,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in shares of NorthWestern by 28.5% during the fourth quarter. Signaturefd LLC now owns 879 shares of the company’s stock worth $57,000 after purchasing an additional 195 shares during the period. Strs Ohio boosted its holdings in NorthWestern by 1.1% in the fourth quarter. Strs Ohio now owns 18,800 shares of the company’s stock valued at $1,213,000 after acquiring an additional 200 shares in the last quarter. Daiwa Securities Group Inc. increased its position in NorthWestern by 34.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 845 shares of the company’s stock valued at $43,000 after purchasing an additional 216 shares during the period. Advisory Services Network LLC increased its position in NorthWestern by 3.4% during the 3rd quarter. Advisory Services Network LLC now owns 6,763 shares of the company’s stock valued at $396,000 after purchasing an additional 224 shares during the period. Finally, Parallel Advisors LLC raised its holdings in NorthWestern by 31.1% in the 3rd quarter. Parallel Advisors LLC now owns 1,074 shares of the company’s stock worth $63,000 after purchasing an additional 255 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
NWE has been the topic of a number of research reports. Wall Street Zen raised shares of NorthWestern to a “hold” rating in a research note on Saturday, April 25th. Barclays lifted their price target on NorthWestern from $62.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of NorthWestern in a report on Tuesday, May 26th. Wells Fargo & Company reiterated an “underweight” rating and set a $54.00 target price on shares of NorthWestern in a report on Tuesday, April 21st. Finally, LADENBURG THALM/SH SH raised NorthWestern from a “neutral” rating to a “buy” rating and raised their price objective for the company from $56.00 to $75.50 in a research report on Wednesday, April 1st. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, NorthWestern presently has an average rating of “Hold” and an average price target of $70.10.
NorthWestern Stock Up 2.7%
NASDAQ:NWE traded up $1.88 on Friday, reaching $72.71. 422,675 shares of the stock traded hands, compared to its average volume of 497,184. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 3.84 and a beta of 0.34. The company has a current ratio of 0.70, a quick ratio of 0.52 and a debt-to-equity ratio of 1.10. NorthWestern Corporation has a 12 month low of $51.31 and a 12 month high of $75.18. The company’s fifty day simple moving average is $70.88 and its 200 day simple moving average is $69.07.
NorthWestern (NASDAQ:NWE – Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.02. NorthWestern had a net margin of 10.21% and a return on equity of 7.80%. The firm had revenue of $516.60 million for the quarter. During the same quarter in the prior year, the company posted $1.22 EPS. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Equities analysts predict that NorthWestern Corporation will post 3.75 EPS for the current fiscal year.
NorthWestern Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $0.67 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.68 annualized dividend and a yield of 3.7%. NorthWestern’s dividend payout ratio is 98.53%.
About NorthWestern
NorthWestern Corporation (NASDAQ: NWE) is a regulated energy company that delivers electricity and natural gas to residential, commercial and industrial customers. Through its Electric Operations and Gas Operations segments, the company operates an extensive network of distribution lines, substations and pipelines. NorthWestern’s services encompass the delivery of power sourced from regional transmission systems and the procurement, storage and distribution of natural gas to end users.
Electric delivery services include the management of distribution infrastructure, customer metering and system reliability programs.
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