Peregrine Capital Management LLC increased its holdings in shares of NorthWestern Corp (NYSE:NWE) by 30.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 90,872 shares of the utilities provider’s stock after buying an additional 21,133 shares during the period. Peregrine Capital Management LLC’s holdings in NorthWestern were worth $4,954,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Harbor Investment Advisory LLC bought a new stake in NorthWestern during the first quarter worth about $25,000. Balentine LLC bought a new stake in NorthWestern during the first quarter worth about $28,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in NorthWestern during the first quarter worth about $77,000. FDx Advisors Inc. bought a new stake in NorthWestern during the first quarter worth about $460,000. Finally, IndexIQ Advisors LLC bought a new position in shares of NorthWestern in the first quarter worth approximately $182,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.
In other NorthWestern news, CEO Robert C. Rowe sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $55.45, for a total transaction of $55,450.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.17% of the stock is currently owned by corporate insiders.
Several brokerages have recently issued reports on NWE. Barclays upgraded shares of NorthWestern from an “underweight” rating to an “equal weight” rating and set a $66.00 target price on the stock in a research note on Tuesday, April 21st. TheStreet downgraded shares of NorthWestern from a “b-” rating to a “c+” rating in a research note on Monday, July 20th. Wells Fargo & Co dropped their target price on shares of NorthWestern from $65.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 17th. Credit Suisse Group upgraded shares of NorthWestern from an “underperform” rating to a “neutral” rating and dropped their target price for the stock from $77.00 to $64.00 in a research note on Monday, April 20th. Finally, Sidoti upgraded shares of NorthWestern from a “neutral” rating to a “buy” rating and set a $62.00 target price on the stock in a research note on Wednesday, July 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $65.14.
NWE opened at $56.26 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.61 and a debt-to-equity ratio of 1.06. The firm has a 50 day moving average price of $54.47 and a 200-day moving average price of $62.88. NorthWestern Corp has a twelve month low of $45.06 and a twelve month high of $80.52. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 4.95 and a beta of 0.34.
NorthWestern (NYSE:NWE) last released its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.07). NorthWestern had a net margin of 12.74% and a return on equity of 7.89%. The company had revenue of $269.36 million for the quarter, compared to analysts’ expectations of $252.41 million. During the same period in the previous year, the firm earned $0.50 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. As a group, analysts expect that NorthWestern Corp will post 3.35 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $2.40 dividend on an annualized basis and a yield of 4.27%. NorthWestern’s dividend payout ratio is currently 70.18%.
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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