Cubist Systematic Strategies LLC Has $3.31 Million Position in NorthWestern Co. (NASDAQ:NWE)

Posted by Defense World Staff on Mar 7th, 2023

Cubist Systematic Strategies LLC lifted its holdings in NorthWestern Co. (NASDAQ:NWE – Get Rating) by 51.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 67,172 shares of the company’s stock after purchasing an additional 22,933 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.12% of NorthWestern worth $3,310,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Deutsche Bank AG raised its stake in NorthWestern by 29.0% in the 2nd quarter. Deutsche Bank AG now owns 184,250 shares of the company’s stock valued at $10,858,000 after acquiring an additional 41,475 shares during the period. Nuveen Asset Management LLC boosted its stake in NorthWestern by 30.5% in the third quarter. Nuveen Asset Management LLC now owns 489,660 shares of the company’s stock valued at $24,131,000 after buying an additional 114,466 shares in the last quarter. Amalgamated Bank boosted its stake in NorthWestern by 6.2% in the third quarter. Amalgamated Bank now owns 37,265 shares of the company’s stock valued at $1,836,000 after buying an additional 2,167 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in NorthWestern by 12.7% in the second quarter. Y Intercept Hong Kong Ltd now owns 6,336 shares of the company’s stock valued at $373,000 after buying an additional 715 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in NorthWestern by 74.5% in the third quarter. Hsbc Holdings PLC now owns 42,042 shares of the company’s stock valued at $2,077,000 after buying an additional 17,951 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NWE has been the topic of several research analyst reports. Guggenheim lowered NorthWestern from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $48.00 to $46.00 in a research note on Monday, January 23rd. Wells Fargo & Company increased their target price on NorthWestern to $57.00 in a research report on Wednesday, December 14th. Finally, Mizuho increased their target price on NorthWestern from $56.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, December 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, NorthWestern has an average rating of “Hold” and a consensus price target of $56.25.

NorthWestern Price Performance

Shares of NWE opened at $57.64 on Tuesday. NorthWestern Co. has a 1 year low of $48.68 and a 1 year high of $63.06. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.87 and a quick ratio of 0.69. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 9.53 and a beta of 0.42. The business has a 50-day moving average of $57.67 and a 200-day moving average of $55.07.

NorthWestern Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 4.44%. This is an increase from NorthWestern’s previous quarterly dividend of $0.63. The ex-dividend date is Tuesday, March 14th. NorthWestern’s dividend payout ratio (DPR) is 77.54%.

NorthWestern Company Profile

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NorthWestern Corp. engages in generating and distributing electricity and natural gas. It operates through the following segments: Electric, Gas, and Other. The Electric segment includes generation, transmission, and distribution of electric utility business as a vertically integrated generation transmission and distribution utility.