California State Teachers Retirement System Trims Stake in NorthWestern Corporation (NWE)

California State Teachers Retirement System reduced its stake in shares of NorthWestern Corporation (NYSE:NWE) by 10.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 86,355 shares of the utilities provider’s stock after selling 9,550 shares during the period. California State Teachers Retirement System owned about 0.18% of NorthWestern Corporation worth $5,269,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in NWE. Meeder Asset Management Inc. bought a new position in shares of NorthWestern Corporation during the 2nd quarter valued at approximately $155,000. Riverhead Capital Management LLC grew its position in shares of NorthWestern Corporation by 62.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,931 shares of the utilities provider’s stock valued at $179,000 after acquiring an additional 1,131 shares during the period. North Star Investment Management Corp. grew its position in shares of NorthWestern Corporation by 100.4% during the 2nd quarter. North Star Investment Management Corp. now owns 3,295 shares of the utilities provider’s stock valued at $201,000 after acquiring an additional 1,651 shares during the period. Stevens Capital Management LP bought a new position in shares of NorthWestern Corporation during the 2nd quarter valued at approximately $201,000. Finally, Legg Mason Asset Management Japan Co. Ltd. bought a new position in shares of NorthWestern Corporation during the 2nd quarter valued at approximately $207,000. 98.37% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have recently weighed in on NWE shares. BidaskClub raised shares of NorthWestern Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 8th. Bank of America Corporation started coverage on shares of NorthWestern Corporation in a research report on Tuesday, October 24th. They set an “underperform” rating and a $54.00 target price for the company. Williams Capital downgraded shares of NorthWestern Corporation from a “hold” rating to a “sell” rating and reduced their target price for the company from $64.00 to $52.00 in a research report on Monday, July 31st. KeyCorp reaffirmed a “hold” rating on shares of NorthWestern Corporation in a report on Friday, October 20th. Finally, Credit Suisse Group downgraded shares of NorthWestern Corporation from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $62.00 to $60.00 in a report on Monday, July 24th. Four analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. NorthWestern Corporation has an average rating of “Sell” and an average target price of $58.50.

Shares of NorthWestern Corporation (NYSE NWE) opened at 59.20 on Tuesday. The firm has a 50-day moving average of $58.33 and a 200 day moving average of $60.09. The stock has a market capitalization of $2.87 billion, a PE ratio of 17.16 and a beta of 0.36. NorthWestern Corporation has a 1-year low of $54.06 and a 1-year high of $63.86.

In other NorthWestern Corporation news, CEO Robert C. Rowe sold 3,626 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $60.43, for a total value of $219,119.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.33% of the company’s stock.

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

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