NorthWestern Corp (NYSE:NWE) Announces Dividend Increase – $0.60 Per Share

NorthWestern Corp (NYSE:NWE) announced a quarterly dividend on Wednesday, February 12th, Zacks reports. Shareholders of record on Friday, March 13th will be given a dividend of 0.60 per share by the utilities provider on Tuesday, March 31st. This represents a $2.40 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Thursday, March 12th. This is a positive change from NorthWestern’s previous quarterly dividend of $0.58.

NorthWestern has raised its dividend by an average of 3.1% per year over the last three years and has raised its dividend annually for the last 11 consecutive years. NorthWestern has a payout ratio of 65.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect NorthWestern to earn $3.52 per share next year, which means the company should continue to be able to cover its $2.30 annual dividend with an expected future payout ratio of 65.3%.

NYSE NWE traded up $0.74 on Friday, hitting $79.18. The stock had a trading volume of 2,361 shares, compared to its average volume of 244,938. NorthWestern has a 52-week low of $64.92 and a 52-week high of $78.93. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.63 and a current ratio of 0.80. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 19.18, a price-to-earnings-growth ratio of 6.22 and a beta of 0.16. The firm has a 50-day moving average of $74.18 and a 200-day moving average of $72.63.

NorthWestern (NYSE:NWE) last posted its earnings results on Wednesday, February 12th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.19. NorthWestern had a net margin of 16.84% and a return on equity of 9.57%. The business had revenue of $328.14 million for the quarter, compared to analysts’ expectations of $329.22 million. During the same period in the prior year, the company posted $1.07 EPS. As a group, research analysts anticipate that NorthWestern will post 3.43 earnings per share for the current fiscal year.

Several analysts have issued reports on the stock. Credit Suisse Group increased their target price on shares of NorthWestern from $70.00 to $72.00 and gave the stock an “underperform” rating in a research note on Thursday, January 2nd. Barclays restated a “sell” rating and set a $71.00 price objective on shares of NorthWestern in a research report on Thursday, October 31st. Guggenheim initiated coverage on shares of NorthWestern in a research report on Tuesday, January 7th. They set a “neutral” rating and a $71.00 price objective on the stock. Wells Fargo & Co restated a “buy” rating on shares of NorthWestern in a research report on Sunday, January 19th. Finally, Zacks Investment Research cut shares of NorthWestern from a “buy” rating to a “sell” rating in a research report on Wednesday. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. NorthWestern presently has an average rating of “Hold” and an average price target of $70.14.

NorthWestern Company Profile

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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Dividend History for NorthWestern (NYSE:NWE)

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