State of New Jersey Common Pension Fund D Has $2.57 Million Stake in NorthWestern Co. (NASDAQ:NWE)

State of New Jersey Common Pension Fund D decreased its position in NorthWestern Co. (NASDAQ:NWEGet Rating) by 17.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,495 shares of the company’s stock after selling 8,767 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.08% of NorthWestern worth $2,571,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. acquired a new stake in shares of NorthWestern in the fourth quarter valued at about $25,000. Pinebridge Investments L.P. acquired a new stake in shares of NorthWestern in the fourth quarter valued at about $51,000. Covestor Ltd acquired a new stake in shares of NorthWestern in the fourth quarter valued at about $107,000. Strs Ohio increased its position in shares of NorthWestern by 166.7% in the first quarter. Strs Ohio now owns 2,400 shares of the company’s stock valued at $145,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Inspire Investing LLC acquired a new stake in shares of NorthWestern in the first quarter valued at about $236,000. Institutional investors and hedge funds own 92.26% of the company’s stock.

NorthWestern Trading Down 0.7 %

Shares of NASDAQ:NWE opened at $55.45 on Monday. NorthWestern Co. has a 12-month low of $53.66 and a 12-month high of $65.62. The stock has a market cap of $3.00 billion, a PE ratio of 16.12, a P/E/G ratio of 7.40 and a beta of 0.45. The business has a 50 day moving average of $58.08 and a 200-day moving average of $58.80. The company has a quick ratio of 0.80, a current ratio of 0.97 and a debt-to-equity ratio of 1.06.

NorthWestern (NASDAQ:NWEGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.12). The company had revenue of $394.50 million during the quarter, compared to the consensus estimate of $427.13 million. NorthWestern had a net margin of 13.38% and a return on equity of 8.15%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.26 earnings per share. As a group, equities research analysts forecast that NorthWestern Co. will post 3.3 earnings per share for the current year.

NorthWestern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 4.54%. The ex-dividend date is Wednesday, September 14th. NorthWestern’s dividend payout ratio (DPR) is currently 73.26%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NWE. KeyCorp reduced their price target on NorthWestern from $67.00 to $64.00 and set an “overweight” rating for the company in a report on Tuesday, July 19th. Bank of America cut NorthWestern from a “neutral” rating to an “underperform” rating and lifted their price target for the stock from $61.00 to $62.00 in a report on Tuesday, May 31st. Sidoti cut NorthWestern from a “buy” rating to a “neutral” rating and set a $63.00 price target for the company. in a report on Wednesday, April 6th. Finally, Barclays reduced their price target on NorthWestern from $62.00 to $57.00 and set an “equal weight” rating for the company in a report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, NorthWestern presently has an average rating of “Hold” and a consensus target price of $61.86.

Insider Activity at NorthWestern

In related news, CEO Robert C. Rowe sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $55.82, for a total value of $223,280.00. Following the completion of the sale, the chief executive officer now directly owns 195,016 shares in the company, valued at $10,885,793.12. The sale was disclosed in a filing with the SEC, which is available at this link. 1.17% of the stock is currently owned by corporate insiders.

NorthWestern Company Profile

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NorthWestern Corporation, doing business as NorthWestern Energy, provides electricity and natural gas to residential, commercial, and various industrial customers. The company operates through Electric and Natural Gas segments. 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.

Further Reading

Institutional Ownership by Quarter for NorthWestern (NASDAQ:NWE)

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