AdvisorNet Financial Inc Cuts Stock Position in NorthWestern Corp (NYSE:NWE)

AdvisorNet Financial Inc lowered its holdings in NorthWestern Corp (NYSE:NWE) by 5.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,592 shares of the utilities provider’s stock after selling 155 shares during the period. AdvisorNet Financial Inc’s holdings in NorthWestern were worth $187,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Berman Capital Advisors LLC boosted its position in NorthWestern by 62.8% in the first quarter. Berman Capital Advisors LLC now owns 529 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 204 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of NorthWestern by 32.0% in the first quarter. Parallel Advisors LLC now owns 754 shares of the utilities provider’s stock valued at $53,000 after buying an additional 183 shares during the period. Quadrant Capital Group LLC raised its stake in shares of NorthWestern by 316.3% in the first quarter. Quadrant Capital Group LLC now owns 2,040 shares of the utilities provider’s stock valued at $141,000 after buying an additional 1,550 shares during the period. Hanseatic Management Services Inc. bought a new stake in shares of NorthWestern in the first quarter valued at $147,000. Finally, Piedmont Investment Advisors Inc. bought a new stake in shares of NorthWestern in the first quarter valued at $203,000. 95.74% of the stock is currently owned by institutional investors and hedge funds.

In related news, CEO Robert C. Rowe sold 1,500 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $72.57, for a total transaction of $108,855.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.17% of the company’s stock.

Shares of NYSE:NWE traded down $0.48 during midday trading on Thursday, reaching $70.82. 8,527 shares of the company traded hands, compared to its average volume of 220,878. The company has a quick ratio of 0.69, a current ratio of 0.83 and a debt-to-equity ratio of 1.06. NorthWestern Corp has a 12 month low of $56.23 and a 12 month high of $74.47. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 6.51 and a beta of 0.28. The business’s fifty day moving average price is $72.69.

NorthWestern (NYSE:NWE) last released its quarterly earnings data on Tuesday, July 23rd. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.31. NorthWestern had a return on equity of 9.95% and a net margin of 17.30%. The company had revenue of $270.70 million for the quarter, compared to analyst estimates of $308.82 million. During the same period in the previous year, the company posted $0.63 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities analysts anticipate that NorthWestern Corp will post 3.59 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a dividend of $0.575 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 3.25%. NorthWestern’s payout ratio is 67.85%.

Several analysts have issued reports on NWE shares. Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Barclays restated a “top pick” rating and issued a GBX 3,250 ($42.47) target price on shares of in a research note on Wednesday, June 19th. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. NorthWestern has a consensus rating of “Hold” and an average price target of $64.50.

NorthWestern Company Profile

NorthWestern Corporation, doing business as NorthWestern Energy, provides electricity and natural gas to residential, commercial, and industrial customers. The company operates through Electric Operations and Natural Gas Operations segments. It generates, transmits, and distributes electricity; and produces, 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 (NYSE:NWE)

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