Oliver Luxxe Assets LLC Sells 28,698 Shares of NorthWestern Corporation $NWE

Key Points

• Oliver Luxxe Assets LLC cut its NorthWestern stake by 34.8% in the second quarter, selling 28,698 shares and retaining 53,748 shares valued at approximately $3.85 million. Institutional investors collectively own 96.07% of the company.
• Analyst sentiment remains favorable, with NorthWestern holding a “Moderate Buy” consensus rating and an average price target of $73.30. Recent target increases included Wells Fargo to $70, Barclays to $75, and JPMorgan to $76.
• NorthWestern exceeded quarterly expectations, reporting adjusted earnings of $0.50 per share and revenue of $392.6 million, up 14.6% year over year. The company also declared a quarterly dividend of $0.67 per share, implying a 3.7% yield.

Oliver Luxxe Assets LLC trimmed its position in NorthWestern Corporation (NASDAQ:NWE - Free Report) by 34.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,748 shares of the company's stock after selling 28,698 shares during the quarter. Oliver Luxxe Assets LLC owned 0.09% of NorthWestern worth $3,849,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of NorthWestern by 4.8% in the second quarter. GAMMA Investing LLC now owns 3,981 shares of the company's stock valued at $285,000 after acquiring an additional 182 shares during the period. Bank of America Corp DE increased its position in NorthWestern by 4.8% during the first quarter. Bank of America Corp DE now owns 803,467 shares of the company's stock worth $52,981,000 after acquiring an additional 36,747 shares during the period. Janus Henderson Group PLC increased its position in NorthWestern by 29.2% during the first quarter. Janus Henderson Group PLC now owns 76,104 shares of the company's stock worth $5,015,000 after acquiring an additional 17,200 shares during the period. EverSource Wealth Advisors LLC raised its stake in NorthWestern by 20.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,646 shares of the company's stock worth $174,000 after purchasing an additional 458 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in NorthWestern by 23.8% in the 1st quarter. California State Teachers Retirement System now owns 75,303 shares of the company's stock worth $4,965,000 after purchasing an additional 14,478 shares in the last quarter. Institutional investors own 96.07% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on NWE. Wall Street Zen raised shares of NorthWestern to a "hold" rating in a report on Saturday, April 25th. Wells Fargo & Company raised their target price on shares of NorthWestern from $62.00 to $70.00 and gave the stock an "equal weight" rating in a report on Friday, July 31st. Barclays lifted their price target on shares of NorthWestern from $62.00 to $75.00 and gave the company an "overweight" rating in a research report on Monday, April 20th. JPMorgan Chase & Co. boosted 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. Finally, Weiss Ratings downgraded NorthWestern from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, NorthWestern presently has a consensus rating of "Moderate Buy" and an average price target of $73.30.

NorthWestern Price Performance

NorthWestern stock opened at $72.09 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.58 and a current ratio of 0.83. NorthWestern Corporation has a 52 week low of $54.89 and a 52 week high of $75.18. The stock has a market capitalization of $4.43 billion, a P/E ratio of 26.03, a price-to-earnings-growth ratio of 3.81 and a beta of 0.34. The stock has a fifty day moving average of $70.84 and a 200-day moving average of $69.89.

NorthWestern (NASDAQ:NWE - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.08. NorthWestern had a return on equity of 8.03% and a net margin of 10.13%.The business had revenue of $392.60 million for the quarter, compared to analyst estimates of $386.22 million. During the same period last year, the firm posted $0.40 earnings per share. NorthWestern's revenue was up 14.6% compared to the same quarter last year. On average, sell-side analysts expect that NorthWestern Corporation will post 3.75 earnings per share for the current fiscal year.

NorthWestern Dividend Announcement

The business also recently declared 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. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, August 17th. NorthWestern's dividend payout ratio (DPR) is presently 96.75%.

NorthWestern Profile

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.

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