Hillcrest Asset Management LLC Invests $9.87 Million in NorthWestern Corporation (NWE) Stock

Hillcrest Asset Management LLC bought a new stake in NorthWestern Corporation (NYSE:NWE) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 173,334 shares of the utilities provider’s stock, valued at approximately $9,870,000. NorthWestern Corporation accounts for about 1.8% of Hillcrest Asset Management LLC’s holdings, making the stock its 27th biggest holding. Hillcrest Asset Management LLC owned about 0.36% of NorthWestern Corporation at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NWE. Paloma Partners Management Co increased its holdings in NorthWestern Corporation by 6.9% in the 1st quarter. Paloma Partners Management Co now owns 7,383 shares of the utilities provider’s stock valued at $433,000 after buying an additional 475 shares during the period. Credit Suisse AG increased its holdings in NorthWestern Corporation by 5.1% in the 1st quarter. Credit Suisse AG now owns 59,338 shares of the utilities provider’s stock valued at $3,483,000 after buying an additional 2,887 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of NorthWestern Corporation by 205.1% during the 1st quarter. Public Employees Retirement System of Ohio now owns 35,812 shares of the utilities provider’s stock valued at $2,102,000 after purchasing an additional 24,074 shares during the last quarter. Capstone Asset Management Co. grew its holdings in shares of NorthWestern Corporation by 7.6% during the 2nd quarter. Capstone Asset Management Co. now owns 4,120 shares of the utilities provider’s stock valued at $251,000 after purchasing an additional 290 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of NorthWestern Corporation by 198.3% during the 2nd quarter. Bank of Montreal Can now owns 68,311 shares of the utilities provider’s stock valued at $4,169,000 after purchasing an additional 45,412 shares during the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO Robert C. Rowe sold 3,626 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $60.43, for a total transaction of $219,119.18. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.33% of the stock is owned by insiders.

Several equities research analysts recently issued reports on NWE shares. Bank of America Corporation started coverage on shares of NorthWestern Corporation in a report on Tuesday, October 24th. They set an “underperform” rating and a $54.00 price target on the stock. Zacks Investment Research raised shares of NorthWestern Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. Credit Suisse Group decreased their price target on shares of NorthWestern Corporation from $60.00 to $58.00 and set an “underperform” rating on the stock in a report on Friday. KeyCorp reaffirmed a “hold” rating on shares of NorthWestern Corporation in a report on Friday, October 20th. Finally, BidaskClub raised shares of NorthWestern Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Four analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company presently has an average rating of “Sell” and an average price target of $58.00.

Shares of NorthWestern Corporation (NYSE NWE) traded down $0.39 during midday trading on Monday, hitting $60.34. 365,700 shares of the stock were exchanged, compared to its average volume of 369,524. The firm has a market cap of $2,932.19, a P/E ratio of 18.23, a P/E/G ratio of 11.59 and a beta of 0.35. NorthWestern Corporation has a 1 year low of $54.07 and a 1 year high of $63.86. 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 (NYSE:NWE) last issued its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.01). The firm had revenue of $309.90 million during the quarter, compared to analyst estimates of $305.60 million. NorthWestern Corporation had a return on equity of 9.41% and a net margin of 12.44%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 EPS. sell-side analysts expect that NorthWestern Corporation will post 3.39 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 3.48%. NorthWestern Corporation’s payout ratio is presently 63.44%.

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NorthWestern Corporation Company 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.

Institutional Ownership by Quarter for NorthWestern Corporation (NYSE:NWE)

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