NorthWestern Corporation (NYSE:NWE) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Monday, July 24th.
A number of other research firms have also commented on NWE. Zacks Investment Research lowered shares of NorthWestern Corporation from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. Williams Capital raised their price objective on shares of NorthWestern Corporation from $58.00 to $61.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Finally, Credit Suisse Group lowered shares of NorthWestern Corporation from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $62.00 to $60.00 in a research note on Monday, July 24th. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. NorthWestern Corporation presently has an average rating of “Sell” and an average target price of $60.00.
NorthWestern Corporation (NYSE NWE) opened at 59.24 on Monday. The firm has a market cap of $2.87 billion, a PE ratio of 17.18 and a beta of 0.36. The firm’s 50-day moving average price is $59.98 and its 200 day moving average price is $59.71. NorthWestern Corporation has a 52-week low of $53.85 and a 52-week high of $63.86.
NorthWestern Corporation (NYSE:NWE) last issued its earnings results on Tuesday, July 25th. The utilities provider reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 return on equity of 9.31% and a net margin of 13.17%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 earnings per share. On average, equities analysts anticipate that NorthWestern Corporation will post $3.39 earnings per share for the current year.
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In other NorthWestern Corporation news, VP Patrick R. Corcoran sold 7,487 shares of NorthWestern Corporation stock in a transaction on Monday, June 5th. The shares were sold at an average price of $62.72, for a total transaction of $469,584.64. Following the completion of the sale, the vice president now owns 13,259 shares of the company’s stock, valued at approximately $831,604.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.33% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in NorthWestern Corporation by 10,516.0% in the first quarter. BlackRock Inc. now owns 9,214,512 shares of the utilities provider’s stock worth $540,893,000 after buying an additional 9,127,714 shares in the last quarter. Alliancebernstein L.P. increased its position in NorthWestern Corporation by 1,275.3% in the second quarter. Alliancebernstein L.P. now owns 933,993 shares of the utilities provider’s stock worth $56,992,000 after buying an additional 866,081 shares in the last quarter. Janus Henderson Group PLC acquired a new position in NorthWestern Corporation during the second quarter worth $36,722,000. Prudential Financial Inc. increased its position in NorthWestern Corporation by 119.2% in the second quarter. Prudential Financial Inc. now owns 609,981 shares of the utilities provider’s stock worth $37,221,000 after buying an additional 331,703 shares in the last quarter. Finally, Norges Bank acquired a new position in NorthWestern Corporation during the fourth quarter worth $17,903,000. Institutional investors and hedge funds own 95.45% 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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