NorthWestern (NASDAQ:NWE) Hits New 52-Week High - Time to Buy?

Key Points

• NorthWestern shares hit a 52-week high, trading as high as $81.82 and last changing hands at $82.114, up from the prior close of $79.95.
• Analysts have a “Moderate Buy” consensus—five Buy ratings and two Hold ratings—with an average price target of $77.25, below the latest share price.
• Several institutional investors recently increased their holdings, and hedge funds and other institutional investors own 96.07% of the company’s stock.

NorthWestern Corporation (NASDAQ:NWE - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday. The company traded as high as $81.82 and last traded at $82.1140, with a volume of 51,725 shares changing hands. The stock had previously closed at $79.95.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Weiss Ratings upgraded NorthWestern from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. JPMorgan Chase & Co. reduced their price objective on NorthWestern from $76.00 to $73.00 and set a "neutral" rating for the company in a research note on Wednesday, September 9th. Jefferies Financial Group assumed coverage on NorthWestern in a research report on Thursday, October 15th. They set a "buy" rating and a $85.00 price objective for the company. Barclays lowered their target price on NorthWestern from $73.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 6th. Finally, Wells Fargo & Company upgraded NorthWestern from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $70.00 to $90.00 in a report on Monday, October 26th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, NorthWestern has an average rating of "Moderate Buy" and an average price target of $77.25.

NorthWestern Stock Performance

The company has a current ratio of 0.83, a quick ratio of 0.58 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $5.06 billion, a PE ratio of 29.69, a PEG ratio of 4.15 and a beta of 0.29. The firm's fifty day moving average price is $72.35 and its 200 day moving average price is $70.54.

Hedge Funds Weigh In On NorthWestern

Hedge funds have recently added to or reduced their stakes in the company. Caxton Associates LLP acquired a new stake in shares of NorthWestern during the 1st quarter valued at about $43,340,000. Arrowstreet Capital Limited Partnership raised its position in NorthWestern by 4,774.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 216,139 shares of the company's stock worth $14,252,000 after purchasing an additional 211,705 shares in the last quarter. Principal Financial Group Inc. raised its position in NorthWestern by 69.3% in the first quarter. Principal Financial Group Inc. now owns 225,164 shares of the company's stock worth $14,847,000 after purchasing an additional 92,134 shares in the last quarter. Fifth Third Bancorp lifted its stake in NorthWestern by 11,652.2% during the first quarter. Fifth Third Bancorp now owns 67,928 shares of the company's stock worth $4,479,000 after purchasing an additional 67,350 shares during the period. Finally, Squarepoint Ops LLC lifted its stake in NorthWestern by 26.8% during the second quarter. Squarepoint Ops LLC now owns 277,545 shares of the company's stock worth $19,878,000 after purchasing an additional 58,577 shares during the period. Institutional investors and hedge funds own 96.07% of the company's stock.

NorthWestern Company Profile

NorthWestern Energy Group, Inc, doing business as NorthWestern Energy, is a regulated electric and natural gas utility headquartered in Sioux Falls, South Dakota. The company generates, purchases, transmits and distributes electricity, and provides natural gas distribution and related services to residential, commercial, industrial and agricultural customers.

NorthWestern Energy serves customers primarily in Montana, South Dakota and Nebraska. Its operations include electric generation facilities and transmission and distribution networks, as well as natural gas pipelines and distribution systems.

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