NorthWestern (NYSE:NWE) Given New $56.00 Price Target at Barclays

NorthWestern (NYSE:NWE) had its price objective dropped by Barclays from $73.00 to $56.00 in a research report issued on Thursday, BenzingaRatingsTable reports. The firm currently has an “underweight” rating on the utilities provider’s stock. Barclays‘s price target would indicate a potential downside of 2.74% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Guggenheim started coverage on shares of NorthWestern in a research report on Tuesday, January 7th. They set a “neutral” rating and a $71.00 price objective for the company. Zacks Investment Research raised shares of NorthWestern from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Wednesday, March 18th. Credit Suisse Group increased their price objective on shares of NorthWestern from $72.00 to $77.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 18th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of NorthWestern in a research report on Sunday, January 19th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $68.33.

Shares of NYSE NWE traded up $4.24 during midday trading on Thursday, reaching $57.58. 12,927 shares of the stock were exchanged, compared to its average volume of 526,172. The company has a 50 day simple moving average of $71.59 and a 200 day simple moving average of $72.51. The stock has a market capitalization of $2.66 billion, a P/E ratio of 14.37, a PEG ratio of 4.84 and a beta of 0.31. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.74 and a current ratio of 0.90. NorthWestern has a twelve month low of $45.06 and a twelve month high of $80.52.

NorthWestern (NYSE:NWE) last announced its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.19. The business had revenue of $328.14 million during the quarter, compared to the consensus estimate of $329.22 million. NorthWestern had a net margin of 16.07% and a return on equity of 9.76%. During the same quarter last year, the firm earned $1.07 EPS. On average, research analysts expect that NorthWestern will post 3.53 earnings per share for the current year.

In other NorthWestern news, VP H. Grahame Heather sold 3,165 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $78.57, for a total value of $248,674.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jan Robert Horsfall sold 3,100 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $79.67, for a total transaction of $246,977.00. Following the completion of the transaction, the director now directly owns 3,555 shares of the company’s stock, valued at approximately $283,226.85. The disclosure for this sale can be found here. Insiders sold a total of 8,265 shares of company stock valued at $653,731 in the last three months. 1.17% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. CENTRAL TRUST Co acquired a new stake in shares of NorthWestern in the 4th quarter valued at $36,000. Penserra Capital Management LLC acquired a new stake in shares of NorthWestern in the 3rd quarter valued at $62,000. Quantbot Technologies LP raised its holdings in shares of NorthWestern by 8.9% in the 4th quarter. Quantbot Technologies LP now owns 1,634 shares of the utilities provider’s stock valued at $117,000 after purchasing an additional 134 shares in the last quarter. Belpointe Asset Management LLC raised its holdings in shares of NorthWestern by 113.4% in the 4th quarter. Belpointe Asset Management LLC now owns 3,201 shares of the utilities provider’s stock valued at $230,000 after purchasing an additional 1,701 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of NorthWestern by 10.3% in the 4th quarter. Stifel Financial Corp now owns 3,252 shares of the utilities provider’s stock valued at $231,000 after purchasing an additional 305 shares in the last quarter. 97.13% of the stock is owned by institutional investors.

About NorthWestern

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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