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

State of New Jersey Common Pension Fund D cut its stake in shares of NorthWestern Co. (NASDAQ:NWEGet Rating) by 17.1% in the 1st quarter, Holdings Channel reports. The institutional investor 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’s holdings in NorthWestern were worth $2,571,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Geneos Wealth Management Inc. acquired a new position in NorthWestern during the 4th quarter worth about $25,000. Pinebridge Investments L.P. bought a new stake in NorthWestern in the fourth quarter valued at approximately $51,000. Covestor Ltd bought a new stake in NorthWestern in the fourth quarter valued at approximately $107,000. Strs Ohio boosted its holdings in 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 bought a new stake in NorthWestern in the first quarter valued at approximately $236,000. 92.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Transactions at NorthWestern

In other news, CEO Robert C. Rowe sold 4,000 shares of the company’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 transaction of $223,280.00. Following the transaction, the chief executive officer now directly owns 195,016 shares of the company’s stock, valued at $10,885,793.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.17% of the stock is owned by insiders.

NorthWestern Price Performance

Shares of NWE opened at $55.45 on Monday. NorthWestern Co. has a 52-week low of $53.66 and a 52-week high of $65.62. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.80 and a current ratio of 0.97. The business’s 50 day moving average price is $58.08 and its two-hundred day moving average price is $58.80. The firm has a market cap of $3.00 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 7.40 and a beta of 0.45.

NorthWestern (NASDAQ:NWEGet Rating) last issued its earnings results on Thursday, April 28th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.12). NorthWestern had a return on equity of 8.15% and a net margin of 13.38%. The firm had revenue of $394.50 million for the quarter, compared to analyst estimates of $427.13 million. During the same period in the previous year, the company earned $1.26 earnings per share. NorthWestern’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities analysts anticipate that NorthWestern Co. will post 3.3 EPS for the current year.

NorthWestern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend is Wednesday, September 14th. NorthWestern’s payout ratio is 73.26%.

NorthWestern Company Profile

(Get Rating)

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

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Institutional Ownership by Quarter for NorthWestern (NASDAQ:NWE)

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