NorthWestern (NASDAQ:NWE) Sees Large Volume Increase - Here's What Happened

Key Points

• NorthWestern shares saw unusually high trading activity, with about 873,889 shares changing hands—67% above average volume. The stock traded near $84.22, down slightly from its previous close of $84.92.
• Analyst views were mixed, but the consensus rating remained Moderate Buy, with a $77.25 average price target; five analysts rated the stock Buy and two rated it Hold.
• The company’s quarterly EPS of $0.58 missed the $0.73 consensus, despite revenue rising 9.5% year over year. NorthWestern also announced a $0.67 quarterly dividend, equivalent to a 3.2% yield.

NorthWestern Corporation (NASDAQ:NWE - Get Free Report) shares saw unusually-high trading volume on Wednesday. Approximately 873,889 shares changed hands 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.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Barclays lowered their target price on shares of NorthWestern from $73.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday, October 6th. Wells Fargo & Company upgraded NorthWestern from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $70.00 to $90.00 in a research note on Monday, October 26th. JPMorgan Chase & Co. lowered their price objective on NorthWestern from $76.00 to $73.00 and set a "neutral" rating on the stock 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 target price for the company. Finally, Weiss Ratings raised NorthWestern from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.25.

NorthWestern Stock Down 0.1%

The company 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 current ratio of 0.90, a quick ratio of 0.64 and a debt-to-equity ratio of 1.24. The stock has a 50 day moving average price of $73.61 and a 200 day moving average price of $70.91.

NorthWestern (NASDAQ:NWE - Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.15). The business had revenue of $427.00 million for the quarter. NorthWestern had a return on equity of 7.58% and a net margin of 9.48%. NorthWestern's revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 earnings per share. On average, research analysts anticipate that NorthWestern Corporation will post 3.75 earnings per share for the current fiscal year.

NorthWestern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $2.68 annualized dividend and a yield of 3.2%. NorthWestern's payout ratio is presently 101.13%.

Hedge Funds Weigh In On NorthWestern

Institutional investors and hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. purchased a new position in shares of NorthWestern in the third quarter worth $2,245,000. GW&K Investment Management LLC boosted its position in shares of NorthWestern by 2.7% during the third quarter. GW&K Investment Management LLC now owns 587,323 shares of the company's stock valued at $40,162,000 after buying an additional 15,389 shares during the last quarter. Private Advisor Group LLC increased its holdings in NorthWestern by 8.2% in the 3rd quarter. Private Advisor Group LLC now owns 11,126 shares of the company's stock worth $761,000 after buying an additional 845 shares in the last quarter. Focus Advisor Solutions LLC bought a new stake in NorthWestern in the 3rd quarter worth about $280,000. Finally, Composition Wealth LLC raised its position in NorthWestern by 29.7% in the 3rd quarter. Composition Wealth LLC now owns 3,759 shares of the company's stock worth $257,000 after buying an additional 861 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors.

About NorthWestern

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.

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