NorthWestern (NASDAQ:NWE) Announces Quarterly Earnings Results, Beats Expectations By $0.08 EPS

NorthWestern (NASDAQ:NWE) released its quarterly earnings data on Wednesday. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.08, Zacks reports. The firm had revenue of $392.60 million during the quarter. NorthWestern had a net margin of 10.21% and a return on equity of 7.80%.

NorthWestern Price Performance

NWE stock opened at $70.61 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.52 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $4.34 billion, a PE ratio of 25.96, a P/E/G ratio of 3.82 and a beta of 0.34. NorthWestern has a 12-month low of $52.19 and a 12-month high of $75.18. The business’s fifty day moving average price is $71.10 and its 200 day moving average price is $69.78.

NorthWestern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.8%. NorthWestern’s payout ratio is presently 98.53%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NWE shares. Wall Street Zen upgraded shares of NorthWestern to a “hold” rating in a report on Saturday, April 25th. Barclays upped their price objective on NorthWestern from $62.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Wells Fargo & Company reissued an “underweight” rating and set a $54.00 target price on shares of NorthWestern in a research note on Tuesday, April 21st. Weiss Ratings upgraded NorthWestern from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. upped their price target on NorthWestern from $73.00 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $70.10.

Hedge Funds Weigh In On NorthWestern

Hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC acquired a new stake in shares of NorthWestern during the first quarter worth about $5,708,000. United Services Automobile Association acquired a new position in shares of NorthWestern in the first quarter valued at approximately $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in NorthWestern by 13.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 154,776 shares of the company’s stock worth $8,957,000 after buying an additional 18,454 shares during the period. Sivia Capital Partners LLC acquired a new stake in NorthWestern during the 2nd quarter worth approximately $230,000. Finally, Schnieders Capital Management LLC. increased its position in shares of NorthWestern by 19.5% during the second quarter. Schnieders Capital Management LLC. now owns 23,123 shares of the company’s stock worth $1,186,000 after acquiring an additional 3,775 shares during the period. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

About NorthWestern

NorthWestern Corporation (NASDAQ: NWE) is a regulated energy company that delivers electricity and natural gas to residential, commercial and industrial customers. Through its Electric Operations and Gas Operations segments, the company operates an extensive network of distribution lines, substations and pipelines. NorthWestern’s services encompass the delivery of power sourced from regional transmission systems and the procurement, storage and distribution of natural gas to end users.

Electric delivery services include the management of distribution infrastructure, customer metering and system reliability programs.