Alliancebernstein L.P. grew its position in shares of NorthWestern Corporation (NYSE:NWE) by 1,275.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 933,993 shares of the utilities provider’s stock after purchasing an additional 866,081 shares during the quarter. Alliancebernstein L.P. owned approximately 1.93% of NorthWestern Corporation worth $56,992,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN increased its position in shares of NorthWestern Corporation by 9.5% during the 2nd quarter. Wells Fargo & Company MN now owns 151,254 shares of the utilities provider’s stock valued at $9,229,000 after purchasing an additional 13,088 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its position in NorthWestern Corporation by 193.0% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 40,905 shares of the utilities provider’s stock worth $2,496,000 after acquiring an additional 26,945 shares during the last quarter. State of Tennessee Treasury Department grew its position in NorthWestern Corporation by 16.7% during the 2nd quarter. State of Tennessee Treasury Department now owns 70,000 shares of the utilities provider’s stock worth $4,271,000 after acquiring an additional 10,000 shares during the last quarter. Swiss National Bank grew its position in NorthWestern Corporation by 1.6% during the 2nd quarter. Swiss National Bank now owns 80,783 shares of the utilities provider’s stock worth $4,929,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Chicago Equity Partners LLC bought a new position in NorthWestern Corporation during the 2nd quarter worth approximately $834,000. Hedge funds and other institutional investors own 98.40% of the company’s stock.
Several research firms recently issued reports on NWE. BidaskClub upgraded NorthWestern Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 8th. Williams Capital lowered NorthWestern Corporation from a “hold” rating to a “sell” rating and reduced their price target for the stock from $64.00 to $52.00 in a research report on Monday, July 31st. Zacks Investment Research lowered NorthWestern Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, July 29th. Finally, Credit Suisse Group lowered NorthWestern Corporation from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $62.00 to $60.00 in a research report on Monday, July 24th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The company currently has a consensus rating of “Sell” and a consensus price target of $60.00.
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Shares of NorthWestern Corporation (NWE) opened at 59.23 on Friday. The stock has a 50 day moving average price of $59.96 and a 200-day moving average price of $60.11. NorthWestern Corporation has a 12 month low of $53.85 and a 12 month high of $63.86. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 17.17 and a beta of 0.36.
NorthWestern Corporation (NYSE:NWE) last released its earnings results on Tuesday, July 25th. The utilities provider reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.15). The business had revenue of $283.86 million for the quarter, compared to the consensus estimate of $302.42 million. NorthWestern Corporation had a net margin of 13.17% and a return on equity of 9.31%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS. Analysts expect that NorthWestern Corporation will post $3.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.525 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 3.55%. NorthWestern Corporation’s dividend payout ratio is 60.34%.
In other news, CEO Robert C. Rowe sold 3,626 shares of the company’s 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.33% of the company’s stock.
About NorthWestern Corporation
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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