NorthWestern Energy Group, Inc. (NYSE:NWE – Get Free Report) shares rose 4.7% on Tuesday . The stock traded as high as $53.30 and last traded at $53.19. Approximately 71,569 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 344,824 shares. The stock had previously closed at $50.80.
Analysts Set New Price Targets
A number of equities analysts have weighed in on NWE shares. Barclays raised shares of NorthWestern Energy Group from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $53.00 to $56.00 in a research note on Thursday. Bank of America started coverage on shares of NorthWestern Energy Group in a research report on Thursday, September 12th. They issued a “buy” rating and a $65.00 price objective for the company. Mizuho increased their price objective on NorthWestern Energy Group from $52.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Wells Fargo & Company boosted their target price on NorthWestern Energy Group from $58.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, StockNews.com lowered NorthWestern Energy Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, NorthWestern Energy Group currently has an average rating of “Hold” and a consensus price target of $57.50.
Get Our Latest Research Report on NWE
NorthWestern Energy Group Price Performance
NorthWestern Energy Group (NYSE:NWE – Get Free Report) last posted its earnings results on Monday, October 28th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.05). The firm had revenue of $345.20 million during the quarter, compared to analyst estimates of $344.06 million. NorthWestern Energy Group had a return on equity of 7.95% and a net margin of 15.15%. During the same quarter last year, the business posted $0.49 earnings per share. On average, sell-side analysts predict that NorthWestern Energy Group, Inc. will post 3.39 earnings per share for the current year.
NorthWestern Energy Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.65 per share. The ex-dividend date is Friday, December 13th. This represents a $2.60 dividend on an annualized basis and a yield of 5.15%. NorthWestern Energy Group’s payout ratio is 70.08%.
Insiders Place Their Bets
In other news, Director Anthony Thomas Clark sold 7,400 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $51.95, for a total value of $384,430.00. Following the completion of the transaction, the director now owns 16,816 shares in the company, valued at $873,591.20. This trade represents a 30.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Britt E. Ide sold 700 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $53.57, for a total value of $37,499.00. Following the sale, the director now owns 10,888 shares in the company, valued at $583,270.16. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.94% of the company’s stock.
Institutional Investors Weigh In On NorthWestern Energy Group
Institutional investors and hedge funds have recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of NorthWestern Energy Group during the 3rd quarter worth about $35,000. Sanctuary Advisors LLC acquired a new stake in NorthWestern Energy Group during the third quarter worth approximately $286,000. Passumpsic Savings Bank bought a new stake in shares of NorthWestern Energy Group during the third quarter worth approximately $610,000. Arete Wealth Advisors LLC acquired a new position in shares of NorthWestern Energy Group in the third quarter valued at approximately $279,000. Finally, Geode Capital Management LLC increased its stake in shares of NorthWestern Energy Group by 2.3% during the third quarter. Geode Capital Management LLC now owns 1,536,518 shares of the company’s stock worth $87,935,000 after purchasing an additional 35,279 shares during the period. 96.07% of the stock is owned by institutional investors.
About NorthWestern Energy Group
NorthWestern Energy Group, Inc provides electricity and natural gas to residential, commercial, and various industrial customers. 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.
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