Teachers Retirement System of The State of Kentucky decreased its stake in NorthWestern Corp (NYSE:NWE) by 22.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 11,900 shares of the company’s stock after selling 3,400 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in NorthWestern Corp were worth $677,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in NWE. Mutual of America Capital Management LLC boosted its stake in NorthWestern Corp by 58.4% in the third quarter. Mutual of America Capital Management LLC now owns 100,774 shares of the company’s stock valued at $5,798,000 after buying an additional 37,162 shares in the last quarter. Quantbot Technologies LP acquired a new stake in NorthWestern Corp during the third quarter valued at about $118,000. Stockman Asset Management acquired a new stake in NorthWestern Corp during the third quarter valued at about $228,000. Wells Fargo & Company MN boosted its stake in NorthWestern Corp by 4.7% in the third quarter. Wells Fargo & Company MN now owns 70,455 shares of the company’s stock valued at $4,053,000 after buying an additional 3,175 shares in the last quarter. Finally, Miller Howard Investments Inc. NY boosted its stake in NorthWestern Corp by 0.6% in the third quarter. Miller Howard Investments Inc. NY now owns 26,707 shares of the company’s stock valued at $1,536,000 after buying an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 98.15% of the company’s stock.
Shares of NorthWestern Corp (NYSE:NWE) opened at 58.79 on Friday. The company’s 50 day moving average price is $57.52 and its 200 day moving average price is $56.99. The stock has a market cap of $2.84 billion, a PE ratio of 17.34 and a beta of 0.35. NorthWestern Corp has a 52-week low of $53.85 and a 52-week high of $63.75.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Monday, March 13th. This is an increase from NorthWestern Corp’s previous quarterly dividend of $0.50. NorthWestern Corp’s payout ratio is presently 59.52%.
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Several analysts recently issued reports on the company. Zacks Investment Research upgraded NorthWestern Corp from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research report on Tuesday, November 29th. Credit Suisse Group AG assumed coverage on NorthWestern Corp in a research report on Wednesday, January 25th. They set a “neutral” rating and a $60.00 target price for the company.
In other NorthWestern Corp news, Director Jan Robert Horsfall sold 1,500 shares of the business’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $58.42, for a total transaction of $87,630.00. Following the sale, the director now owns 4,450 shares in the company, valued at approximately $259,969. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Michael R. Cashell sold 4,500 shares of the business’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $58.27, for a total value of $262,215.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,975 shares of company stock worth $816,495. Company insiders own 1.34% of the company’s stock.
About NorthWestern Corp
NorthWestern Corporation, doing business as North-Western Energy, provides electricity and natural gas. The Company’s segments are Electric operations, Natural gas operations and All other. As of December 31, 2016, the Company provided electricity and natural gas to approximately 709,600 customers in Montana, South Dakota and Nebraska.
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