NorthWestern (NASDAQ:NWE) Price Target Raised to $70.00

Key Points

• Wells Fargo raised NorthWestern’s price target from $62 to $70 while maintaining an “equal weight” rating, implying approximately 1.56% upside from the reported $68.92 share price.
• Analyst sentiment is moderately positive overall: NorthWestern has a consensus rating of “Moderate Buy” and an average price target of $73.30, with targets ranging from $70 to $76.
• NorthWestern exceeded quarterly earnings expectations, reporting $0.50 EPS versus the $0.42 consensus and revenue of $392.6 million, up 14.6% year over year. Institutional investors own approximately 96.07% of the company’s shares.

NorthWestern (NASDAQ:NWE - Get Free Report) had its price target raised by stock analysts at Wells Fargo & Company from $62.00 to $70.00 in a report released on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price would suggest a potential upside of 1.56% from the company's current price.

A number of other research firms have also commented on NWE. Weiss Ratings upgraded shares of NorthWestern from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 15th. Barclays upped their price target on NorthWestern from $62.00 to $75.00 and gave the stock an "overweight" rating in a research note on Monday, April 20th. Wall Street Zen upgraded shares of NorthWestern to a "hold" rating in a report on Saturday, April 25th. Finally, JPMorgan Chase & Co. increased their price target on shares of NorthWestern from $73.00 to $76.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, NorthWestern has an average rating of "Moderate Buy" and a consensus price target of $73.30.

NorthWestern Trading Down 1.2%

Shares of NWE traded down $0.81 during mid-day trading on Friday, reaching $68.92. The company's stock had a trading volume of 48,961 shares, compared to its average volume of 522,462. NorthWestern has a 52 week low of $52.24 and a 52 week high of $75.18. The stock has a market cap of $4.24 billion, a PE ratio of 24.90, a P/E/G ratio of 3.73 and a beta of 0.34. The company's fifty day moving average price is $71.06 and its two-hundred day moving average price is $69.80. The company has a current ratio of 0.70, a quick ratio of 0.52 and a debt-to-equity ratio of 1.10.

NorthWestern (NASDAQ:NWE - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.08. The business had revenue of $392.60 million during the quarter. NorthWestern had a net margin of 10.13% and a return on equity of 8.03%. The business's revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 earnings per share. On average, analysts predict that NorthWestern will post 3.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NorthWestern

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC bought a new position in NorthWestern during the 1st quarter valued at about $5,708,000. United Services Automobile Association bought a new position in NorthWestern during the first quarter valued at approximately $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in NorthWestern by 13.5% in the first 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 purchasing an additional 18,454 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of NorthWestern in the 2nd quarter worth $230,000. Finally, Schnieders Capital Management LLC. grew its stake in shares of NorthWestern by 19.5% during the 2nd quarter. Schnieders Capital Management LLC. now owns 23,123 shares of the company's stock valued at $1,186,000 after purchasing an additional 3,775 shares during the period. 96.07% of the stock is owned by institutional investors.

NorthWestern Company 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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