Bank of Nova Scotia Makes New Investment in NorthWestern Co. (NASDAQ:NWE)

Bank of Nova Scotia bought a new position in shares of NorthWestern Co. (NASDAQ:NWEGet Rating) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,233 shares of the company’s stock, valued at approximately $662,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NWE. ProShare Advisors LLC grew its stake in shares of NorthWestern by 3.0% in the first quarter. ProShare Advisors LLC now owns 569,900 shares of the company’s stock worth $34,472,000 after purchasing an additional 16,863 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of NorthWestern by 12.1% in the first quarter. PNC Financial Services Group Inc. now owns 19,465 shares of the company’s stock worth $1,177,000 after purchasing an additional 2,098 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of NorthWestern by 216.6% in the second quarter. Russell Investments Group Ltd. now owns 75,201 shares of the company’s stock worth $4,430,000 after purchasing an additional 51,446 shares during the last quarter. Crawford Investment Counsel Inc. grew its stake in shares of NorthWestern by 20.8% in the first quarter. Crawford Investment Counsel Inc. now owns 205,525 shares of the company’s stock worth $12,432,000 after purchasing an additional 35,430 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of NorthWestern by 10.9% in the first quarter. Van ECK Associates Corp now owns 10,408 shares of the company’s stock worth $630,000 after purchasing an additional 1,022 shares during the last quarter.

NorthWestern Price Performance

Shares of NASDAQ NWE opened at $55.53 on Friday. The firm’s 50-day moving average price is $51.78 and its 200-day moving average price is $54.02. NorthWestern Co. has a 1-year low of $48.68 and a 1-year high of $63.06. The firm has a market capitalization of $3.21 billion, a P/E ratio of 18.21, a P/E/G ratio of 9.32 and a beta of 0.44. The company has a current ratio of 0.76, a quick ratio of 0.56 and a debt-to-equity ratio of 0.95.

NorthWestern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $2.52 annualized dividend and a dividend yield of 4.54%. NorthWestern’s dividend payout ratio is currently 82.62%.

Insider Buying and Selling

In related news, COO Brian B. Bird sold 6,800 shares of the company’s stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $52.51, for a total value of $357,068.00. Following the sale, the chief operating officer now owns 108,462 shares in the company, valued at approximately $5,695,339.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Robert C. Rowe sold 4,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $54.01, for a total value of $216,040.00. Following the sale, the chief executive officer now owns 193,116 shares in the company, valued at approximately $10,430,195.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brian B. Bird sold 6,800 shares of the company’s stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $52.51, for a total transaction of $357,068.00. Following the completion of the sale, the chief operating officer now owns 108,462 shares in the company, valued at approximately $5,695,339.62. The disclosure for this sale can be found here. Insiders have sold 12,502 shares of company stock worth $663,637 in the last quarter. Insiders own 1.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NWE. Bank of America raised shares of NorthWestern from an “underperform” rating to a “buy” rating and cut their price target for the company from $58.00 to $56.00 in a research report on Thursday, September 29th. JPMorgan Chase & Co. began coverage on shares of NorthWestern in a research report on Tuesday, November 1st. They set a “neutral” rating and a $55.00 price target on the stock. Wells Fargo & Company cut their price target on shares of NorthWestern from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 26th. TheStreet cut shares of NorthWestern from a “b” rating to a “c+” rating in a research report on Monday, August 29th. Finally, StockNews.com assumed coverage on shares of NorthWestern in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $57.67.

NorthWestern 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.

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Institutional Ownership by Quarter for NorthWestern (NASDAQ:NWE)

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