US Bancorp DE grew its position in shares of NorthWestern Co. (NASDAQ:NWE – Free Report) by 17.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,564 shares of the company’s stock after purchasing an additional 2,613 shares during the period. US Bancorp DE’s holdings in NorthWestern were worth $1,016,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC lifted its position in NorthWestern by 47.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 736 shares of the company’s stock valued at $44,000 after purchasing an additional 236 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of NorthWestern by 147.7% in the 1st quarter. Parallel Advisors LLC now owns 924 shares of the company’s stock valued at $53,000 after acquiring an additional 551 shares during the last quarter. Signaturefd LLC grew its position in NorthWestern by 29.2% in the first quarter. Signaturefd LLC now owns 1,089 shares of the company’s stock worth $63,000 after acquiring an additional 246 shares in the last quarter. Spire Wealth Management bought a new stake in NorthWestern during the fourth quarter worth approximately $90,000. Finally, Quadrant Capital Group LLC raised its position in NorthWestern by 41.0% during the fourth quarter. Quadrant Capital Group LLC now owns 1,513 shares of the company’s stock valued at $90,000 after purchasing an additional 440 shares during the period. 96.13% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on NWE. Guggenheim boosted their target price on NorthWestern from $46.00 to $48.00 in a research report on Friday, July 7th. LADENBURG THALM/SH SH cut their price objective on shares of NorthWestern from $59.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 17th. StockNews.com initiated coverage on shares of NorthWestern in a report on Wednesday. They issued a “hold” rating for the company. Finally, Mizuho cut their price target on shares of NorthWestern from $60.00 to $59.00 in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $56.43.
Get Our Latest Stock Report on NorthWestern
NorthWestern Trading Up 1.7 %
NWE opened at $52.34 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.75 and a debt-to-equity ratio of 0.95. The stock’s fifty day moving average is $55.99 and its two-hundred day moving average is $57.34. The company has a market capitalization of $3.14 billion, a P/E ratio of 17.45, a PEG ratio of 2.89 and a beta of 0.43. NorthWestern Co. has a 52 week low of $48.68 and a 52 week high of $61.24.
NorthWestern (NASDAQ:NWE – Get Free Report) last posted its earnings results on Monday, July 24th. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.16). NorthWestern had a net margin of 11.67% and a return on equity of 6.53%. The business had revenue of $290.50 million for the quarter, compared to analysts’ expectations of $341.90 million. Analysts forecast that NorthWestern Co. will post 3.44 earnings per share for the current year.
NorthWestern Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.64 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.56 dividend on an annualized basis and a yield of 4.89%. NorthWestern’s dividend payout ratio is currently 85.33%.
About NorthWestern
NorthWestern Corporation, doing business as NorthWestern Energy, provides electricity and natural gas to residential, commercial, and various industrial customers. The company operates through three segments: Electric Utility Operations; Natural Gas Utility Operations; and Other. It generates, purchases, transmits, and distributes electricity; and produces, purchases, stores, transmits, and distributes natural gas, as well as owns municipal franchises to provide natural gas service in the communities.
Further Reading
Want to see what other hedge funds are holding NWE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NorthWestern Co. (NASDAQ:NWE – Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
MarketBeat’s analysts have just released their top five short plays for September 2023. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
Source: marketbeat.com
