OppenheimerFunds Inc. trimmed its holdings in shares of NorthWestern Corp (NYSE:NWE) by 15.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 460,282 shares of the utilities provider’s stock after selling 86,018 shares during the period. OppenheimerFunds Inc. owned approximately 0.91% of NorthWestern worth $26,352,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Adviser Investments LLC acquired a new position in shares of NorthWestern during the first quarter valued at $108,000. Steward Partners Investment Advisory LLC acquired a new position in NorthWestern during the second quarter worth about $132,000. Hartford Investment Management Co. acquired a new position in NorthWestern during the second quarter worth about $248,000. Cypress Wealth Services LLC acquired a new position in NorthWestern during the second quarter worth about $275,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in NorthWestern during the second quarter worth about $305,000. 95.89% of the stock is currently owned by institutional investors.
NYSE:NWE opened at $59.75 on Friday. The stock has a market cap of $3.01 billion, a P/E ratio of 15.81, a PEG ratio of 7.65 and a beta of 0.13. NorthWestern Corp has a 52-week low of $50.01 and a 52-week high of $64.47. The company has a current ratio of 0.77, a quick ratio of 0.62 and a debt-to-equity ratio of 1.07.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be given a $0.55 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.68%. NorthWestern’s dividend payout ratio (DPR) is 66.67%.
In related news, VP Curtis T. Pohl sold 1,200 shares of the stock in a transaction on Friday, July 27th. The stock was sold at an average price of $58.73, for a total value of $70,476.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.40% of the company’s stock.
A number of research firms recently issued reports on NWE. Zacks Investment Research raised NorthWestern from a “hold” rating to a “strong-buy” rating and set a $67.00 target price on the stock in a report on Tuesday, July 24th. Credit Suisse Group lifted their target price on NorthWestern from $54.00 to $55.00 and gave the stock a “$58.28” rating in a report on Thursday, July 19th. ValuEngine raised NorthWestern from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. Barclays began coverage on NorthWestern in a report on Tuesday, July 10th. They set an “equal weight” rating and a $60.00 target price on the stock. Finally, KeyCorp raised NorthWestern from a “sector weight” rating to an “overweight” rating in a report on Monday, June 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. NorthWestern has an average rating of “Hold” and an average target price of $58.20.
NorthWestern Company Profile
NorthWestern Corporation, doing business as NorthWestern Energy, provides electricity and natural gas to residential, commercial, and industrial customers. The company operates through Electric Operations and Natural Gas Operations segments. It generates, transmits, and distributes electricity; and produces, stores, transmits, and distributes natural gas, as well as owns municipal franchises to provide natural gas service in the communities.
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