Meeder Asset Management Inc. increased its position in NorthWestern Corp (NYSE:NWE) by 454.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 17,778 shares of the utilities provider’s stock after acquiring an additional 14,570 shares during the quarter. Meeder Asset Management Inc.’s holdings in NorthWestern were worth $1,044,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC purchased a new stake in NorthWestern in the 2nd quarter worth about $132,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in NorthWestern in the 2nd quarter worth about $235,000. Hartford Investment Management Co. bought a new position in NorthWestern in the 2nd quarter worth about $248,000. Nomura Holdings Inc. bought a new position in NorthWestern in the 2nd quarter worth about $264,000. Finally, Cypress Wealth Services LLC bought a new position in NorthWestern in the 2nd quarter worth about $275,000. 96.62% of the stock is owned by institutional investors.
NWE has been the subject of several analyst reports. Zacks Investment Research downgraded NorthWestern from a “buy” rating to a “hold” rating in a research note on Thursday, September 20th. Credit Suisse Group raised their target price on NorthWestern from $55.00 to $56.00 and gave the stock an “underperform” rating in a research note on Monday, October 1st. Wells Fargo & Co raised their target price on NorthWestern from $59.00 to $61.00 and gave the stock a “market perform” rating in a research note on Monday, September 17th. Finally, ValuEngine downgraded NorthWestern from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $61.00.
NorthWestern (NYSE:NWE) last issued its earnings results on Tuesday, October 23rd. The utilities provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.14). NorthWestern had a return on equity of 9.64% and a net margin of 14.53%. The company had revenue of $279.87 million during the quarter, compared to the consensus estimate of $312.21 million. During the same quarter in the prior year, the business earned $0.74 EPS. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. On average, equities analysts forecast that NorthWestern Corp will post 3.4 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.61%. NorthWestern’s dividend payout ratio (DPR) is presently 66.67%.
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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