NorthWestern (NASDAQ:NWE) Sees Unusually-High Trading Volume – Still a Buy?

Shares of NorthWestern Corporation (NASDAQ:NWE) saw unusually-strong trading volume on Wednesday. 873,889 shares were traded during mid-day trading, an increase of 67% from the average daily volume of 521,873 shares. The stock last traded at $84.2160 and had previously closed at $84.92.

Analyst Upgrades and Downgrades

NWE has been the subject of a number of research reports. Wells Fargo & Company upgraded NorthWestern from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $70.00 to $90.00 in a research report on Monday, October 26th. Jefferies Financial Group began coverage on NorthWestern in a research report on Thursday, October 15th. They issued a “buy” rating and a $85.00 target price on the stock. JPMorgan Chase & Co. cut their price target on NorthWestern from $76.00 to $73.00 and set a “neutral” rating for the company in a research note on Wednesday, September 9th. Barclays reduced their price target on shares of NorthWestern from $73.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, October 6th. Finally, Weiss Ratings upgraded shares of NorthWestern from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.25.

NorthWestern Trading Down 0.1%

The stock has a fifty day simple moving average of $73.61 and a 200 day simple moving average of $70.91. The firm has a market capitalization of $5.22 billion, a P/E ratio of 32.02, a PEG ratio of 4.30 and a beta of 0.29. The company has a quick ratio of 0.64, a current ratio of 0.90 and a debt-to-equity ratio of 1.24.

NorthWestern (NASDAQ:NWE) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.15). The company had revenue of $427.00 million for the quarter. NorthWestern had a net margin of 9.48% and a return on equity of 7.58%. NorthWestern’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.79 EPS. As a group, research analysts forecast that NorthWestern Corporation will post 3.75 EPS for the current year.

NorthWestern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be given a $0.67 dividend. The ex-dividend date is Tuesday, November 17th. This represents a $2.68 annualized dividend and a yield of 3.2%. NorthWestern’s dividend payout ratio (DPR) is currently 101.13%.

Hedge Funds Weigh In On NorthWestern

Several large investors have recently modified their holdings of NWE. Dimensional Fund Advisors LP boosted its stake in NorthWestern by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,023,230 shares of the company’s stock worth $67,472,000 after buying an additional 5,815 shares during the period. Bank of America Corp DE raised its stake in shares of NorthWestern by 4.8% in the first quarter. Bank of America Corp DE now owns 803,467 shares of the company’s stock valued at $52,981,000 after acquiring an additional 36,747 shares during the period. Caxton Associates LLP bought a new stake in shares of NorthWestern in the 1st quarter worth about $43,340,000. GW&K Investment Management LLC lifted its holdings in shares of NorthWestern by 2.7% in the 3rd quarter. GW&K Investment Management LLC now owns 587,323 shares of the company’s stock worth $40,162,000 after acquiring an additional 15,389 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of NorthWestern by 26.8% in the 2nd quarter. Squarepoint Ops LLC now owns 277,545 shares of the company’s stock worth $19,878,000 after acquiring an additional 58,577 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

NorthWestern Company Profile

NorthWestern Energy Group, Inc., doing business as NorthWestern Energy, is a regulated utility that provides electricity and natural gas to residential, commercial, and industrial customers. Its operations include generating and purchasing energy, as well as transmitting and distributing power and delivering natural gas. The company serves customers in Montana, South Dakota, and Nebraska. Its electric and natural gas operations vary by service area, with utility infrastructure supporting communities across the region.