Rhumbline Advisers Boosts Stake in NorthWestern Co. (NYSE:NWE)

Posted by Defense World Staff on Sep 3rd, 2023

Rhumbline Advisers increased its position in NorthWestern Co. (NYSE:NWE – Free Report) by 0.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 205,135 shares of the company’s stock after purchasing an additional 703 shares during the quarter. Rhumbline Advisers owned approximately 0.34% of NorthWestern worth $11,869,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in NWE. Van ECK Associates Corp grew its holdings in NorthWestern by 24.6% in the fourth quarter. Van ECK Associates Corp now owns 14,173 shares of the company’s stock worth $841,000 after purchasing an additional 2,795 shares during the period. New York Life Investment Management LLC raised its stake in NorthWestern by 12.7% during the fourth quarter. New York Life Investment Management LLC now owns 9,379 shares of the company’s stock valued at $557,000 after buying an additional 1,058 shares during the last quarter. Raymond James & Associates raised its stake in NorthWestern by 168.0% during the first quarter. Raymond James & Associates now owns 83,283 shares of the company’s stock valued at $4,819,000 after buying an additional 52,207 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in NorthWestern by 971.2% in the first quarter. Global Retirement Partners LLC now owns 2,303 shares of the company’s stock worth $136,000 after acquiring an additional 2,088 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of NorthWestern by 4.7% in the fourth quarter. First Trust Advisors LP now owns 1,367,974 shares of the company’s stock worth $81,177,000 after acquiring an additional 62,009 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NWE. TheStreet cut shares of NorthWestern from a “b” rating to a “c+” rating in a research note on Friday, August 25th. Mizuho cut their price target on shares of NorthWestern from $60.00 to $59.00 in a report on Wednesday, August 9th. LADENBURG THALM/SH SH decreased their price objective on shares of NorthWestern from $59.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 17th. Guggenheim increased their target price on NorthWestern from $46.00 to $48.00 in a research note on Friday, July 7th. Finally, StockNews.com started coverage on NorthWestern in a research note on Wednesday, August 23rd. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, NorthWestern presently has a consensus rating of “Hold” and an average target price of $55.38.

Check Out Our Latest Research Report on NWE

NorthWestern Price Performance

NYSE NWE opened at $50.36 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.75 and a quick ratio of 0.53. NorthWestern Co. has a 1-year low of $48.68 and a 1-year high of $61.24. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 2.89 and a beta of 0.45. The business’s fifty day moving average price is $54.76 and its 200-day moving average price is $56.98.

NorthWestern (NYSE:NWE – Get Free Report) last announced its earnings results on Monday, July 24th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.16). The firm had revenue of $290.50 million during the quarter, compared to analysts’ expectations of $341.90 million. NorthWestern had a return on equity of 6.53% and a net margin of 11.67%. On average, equities analysts predict that NorthWestern Co. will post 3.44 earnings per share for the current year.

NorthWestern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.56 annualized dividend and a yield of 5.08%. NorthWestern’s dividend payout ratio (DPR) is 85.33%.

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.