Credit Suisse Group restated their neutral rating on shares of NorthWestern (NASDAQ:NWE) in a research note released on Monday, Benzinga reports. They currently have a $66.00 target price on the stock, up from their prior target price of $60.00.
Several other analysts also recently issued reports on the company. KeyCorp boosted their price objective on NorthWestern from $65.00 to $70.00 and gave the stock an overweight rating in a report on Tuesday, January 12th. Zacks Investment Research downgraded NorthWestern from a hold rating to a sell rating in a report on Saturday, February 20th. Finally, Bank of America upgraded NorthWestern from an underperform rating to a neutral rating and set a $62.00 target price on the stock in a report on Monday, March 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. NorthWestern presently has a consensus rating of Hold and a consensus target price of $64.50.
NASDAQ NWE opened at $70.33 on Monday. The stock’s 50-day moving average price is $64.40 and its two-hundred day moving average price is $59.16. The company has a current ratio of 0.57, a quick ratio of 0.43 and a debt-to-equity ratio of 1.07. The company has a market cap of $3.56 billion, a PE ratio of 22.05, a PEG ratio of 4.94 and a beta of 0.35. NorthWestern has a 1 year low of $47.43 and a 1 year high of $70.53.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Monday, March 15th were paid a $0.62 dividend. This is a boost from NorthWestern’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, March 12th. This represents a $2.48 annualized dividend and a dividend yield of 3.53%. NorthWestern’s payout ratio is presently 72.51%.
In other NorthWestern news, Director Britt E. Ide sold 2,700 shares of the company’s stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $59.11, for a total transaction of $159,597.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert C. Rowe sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $59.63, for a total value of $178,890.00. The disclosure for this sale can be found here. In the last three months, insiders sold 17,179 shares of company stock valued at $1,024,772. 1.17% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in shares of NorthWestern during the fourth quarter worth approximately $31,226,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of NorthWestern by 883.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 577,711 shares of the company’s stock worth $33,686,000 after buying an additional 518,995 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of NorthWestern by 3.5% during the fourth quarter. BlackRock Inc. now owns 7,085,297 shares of the company’s stock worth $413,143,000 after buying an additional 242,055 shares during the last quarter. Apollo Management Holdings L.P. acquired a new position in shares of NorthWestern during the third quarter worth approximately $9,728,000. Finally, Peregrine Capital Management LLC lifted its holdings in shares of NorthWestern by 182.8% during the fourth quarter. Peregrine Capital Management LLC now owns 303,219 shares of the company’s stock worth $17,681,000 after buying an additional 196,008 shares during the last quarter. 94.42% of the stock is owned by hedge funds and other institutional investors.
NorthWestern Company Profile
NorthWestern Corp. engages in generating and distributing electricity and natural gas. It operates through the following segments: Electric Utility Operations, Natural Gas Operations, and All Other. The Electric Utility Operations segment includes generation, transmission, and distribution of electric utility business as a vertically integrated generation transmission and distribution utility.
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