Allspring Global Investments Holdings LLC reduced its stake in NorthWestern Energy Group, Inc. (NYSE:NWE – Free Report) by 44.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,288 shares of the company’s stock after selling 13,653 shares during the period. Allspring Global Investments Holdings LLC’s holdings in NorthWestern Energy Group were worth $981,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Tucker Asset Management LLC acquired a new stake in shares of NorthWestern Energy Group in the 1st quarter valued at approximately $40,000. EverSource Wealth Advisors LLC boosted its position in NorthWestern Energy Group by 3,833.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the company’s stock worth $41,000 after buying an additional 690 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in NorthWestern Energy Group by 47.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 736 shares of the company’s stock worth $44,000 after purchasing an additional 236 shares during the last quarter. Spirit of America Management Corp NY bought a new position in NorthWestern Energy Group during the 2nd quarter worth approximately $43,000. Finally, Parallel Advisors LLC raised its holdings in NorthWestern Energy Group by 147.7% during the 1st quarter. Parallel Advisors LLC now owns 924 shares of the company’s stock worth $53,000 after purchasing an additional 551 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on NWE shares. JPMorgan Chase & Co. lowered their price target on shares of NorthWestern Energy Group from $59.00 to $55.00 and set a “neutral” rating for the company in a report on Tuesday, October 10th. Guggenheim decreased their price target on shares of NorthWestern Energy Group from $48.00 to $41.00 in a research note on Monday, October 9th. StockNews.com initiated coverage on shares of NorthWestern Energy Group in a research note on Thursday, October 5th. They set a “hold” rating for the company. Wells Fargo & Company upgraded shares of NorthWestern Energy Group from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $59.00 to $51.00 in a research note on Monday, October 30th. Finally, TheStreet downgraded shares of NorthWestern Energy Group from a “b” rating to a “c+” rating in a report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $52.50.
NorthWestern Energy Group Price Performance
Shares of NYSE:NWE opened at $49.38 on Thursday. NorthWestern Energy Group, Inc. has a fifty-two week low of $45.97 and a fifty-two week high of $61.24. The company’s 50-day moving average is $49.39 and its 200 day moving average is $54.03. The company has a market capitalization of $3.02 billion, a P/E ratio of 16.41, a price-to-earnings-growth ratio of 3.26 and a beta of 0.46. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.42 and a current ratio of 0.63.
NorthWestern Energy Group (NYSE:NWE – Get Free Report) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.16). NorthWestern Energy Group had a net margin of 11.91% and a return on equity of 6.62%. The firm had revenue of $321.10 million during the quarter, compared to the consensus estimate of $466.35 million. During the same quarter in the prior year, the firm posted $0.42 earnings per share. The company’s revenue was down 4.2% on a year-over-year basis. On average, equities research analysts forecast that NorthWestern Energy Group, Inc. will post 3.06 earnings per share for the current year.
NorthWestern Energy Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 5.18%. The ex-dividend date of this dividend is Thursday, December 14th. NorthWestern Energy Group’s dividend payout ratio is presently 85.05%.
About NorthWestern Energy Group
NorthWestern Energy Group, Inc provides electricity and natural gas to residential, commercial, and various industrial customers. 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.
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