Texas Permanent School Fund Corp Has $2.98 Million Position in NorthWestern Co. (NASDAQ:NWE)

Posted by Defense World Staff on Jul 27th, 2023

Texas Permanent School Fund Corp boosted its holdings in NorthWestern Co. (NASDAQ:NWE – Free Report) by 33.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,532 shares of the company’s stock after buying an additional 12,972 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.09% of NorthWestern worth $2,982,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can grew its holdings in NorthWestern by 6.2% during the 1st quarter. Bank of Montreal Can now owns 26,264 shares of the company’s stock worth $1,577,000 after acquiring an additional 1,527 shares during the period. Rhumbline Advisers lifted its position in shares of NorthWestern by 1.7% during the 1st quarter. Rhumbline Advisers now owns 165,505 shares of the company’s stock valued at $10,011,000 after acquiring an additional 2,746 shares during the period. BlackRock Inc. grew its holdings in NorthWestern by 0.8% in the first quarter. BlackRock Inc. now owns 8,852,795 shares of the company’s stock worth $535,506,000 after purchasing an additional 74,439 shares during the period. Great West Life Assurance Co. Can increased its stake in NorthWestern by 17.2% in the first quarter. Great West Life Assurance Co. Can now owns 64,308 shares of the company’s stock valued at $4,067,000 after purchasing an additional 9,425 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its position in shares of NorthWestern by 3.8% during the 1st quarter. Yousif Capital Management LLC now owns 28,518 shares of the company’s stock worth $1,725,000 after purchasing an additional 1,031 shares in the last quarter. 96.13% of the stock is owned by institutional investors.

Insider Transactions at NorthWestern

In related news, Director Britt E. Ide sold 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $58.65, for a total transaction of $70,380.00. Following the transaction, the director now directly owns 10,125 shares in the company, valued at approximately $593,831.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.94% of the company’s stock.

NorthWestern Stock Up 1.7 %

NWE opened at $56.90 on Thursday. The business’s fifty day simple moving average is $57.46 and its 200 day simple moving average is $57.81. NorthWestern Co. has a 52 week low of $48.68 and a 52 week high of $61.24. The company has a quick ratio of 0.52, a current ratio of 0.66 and a debt-to-equity ratio of 0.87. The stock has a market cap of $3.40 billion, a PE ratio of 18.97, a P/E/G ratio of 3.26 and a beta of 0.44.

NorthWestern (NASDAQ:NWE – Get Free Report) last issued its quarterly earnings results on Thursday, April 27th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.02). NorthWestern had a net margin of 11.67% and a return on equity of 6.56%. The business had revenue of $454.50 million for the quarter, compared to the consensus estimate of $412.76 million. As a group, research analysts expect that NorthWestern Co. will post 3.43 earnings per share for the current fiscal year.

NorthWestern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.64 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 4.50%. NorthWestern’s dividend payout ratio (DPR) is currently 85.33%.

Analyst Ratings Changes

A number of research firms recently weighed in on NWE. StockNews.com assumed coverage on shares of NorthWestern in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Mizuho cut their price target on shares of NorthWestern from $60.00 to $59.00 and set a “neutral” rating on the stock in a report on Friday, July 21st. LADENBURG THALM/SH SH dropped their price target on NorthWestern from $57.50 to $57.00 in a report on Wednesday, June 14th. Guggenheim increased their price target on shares of NorthWestern from $46.00 to $48.00 in a research report on Friday, July 7th. Finally, Bank of America increased their price objective on NorthWestern from $62.00 to $64.00 and gave the company a “buy” rating in a report on Friday, April 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $57.00.

NorthWestern Company Profile

(Free Report)

NorthWestern Corporation, doing business as NorthWestern Energy, provides electricity and natural gas to residential, commercial, and various industrial customers. The company operates through three segments: Electric Utility Operations; Natural Gas Utility Operations; and Other. It generates, purchases, transmits, and distributes electricity; and produces, purchases, stores, transmits, and distributes natural gas, as well as owns municipal franchises to provide natural gas service in the communities.