NorthWestern Corporation (NWE) Lowered to “Underperform” at Credit Suisse Group

NorthWestern Corporation (NYSE:NWE) was downgraded by research analysts at Credit Suisse Group from a “neutral” rating to an “underperform” rating in a research note issued to investors on Monday, July 24th, Marketbeat Ratings reports. They presently have a $60.00 target price on the utilities provider’s stock, down from their previous target price of $62.00. Credit Suisse Group’s price target indicates a potential upside of 1.28% from the company’s current price.

A number of other equities research analysts also recently issued reports on the stock. BidaskClub downgraded shares of NorthWestern Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Zacks Investment Research raised shares of NorthWestern Corporation from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Friday, July 7th. Finally, Williams Capital boosted their price target on shares of NorthWestern Corporation from $61.00 to $64.00 and gave the company a “hold” rating in a research note on Wednesday, July 5th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. NorthWestern Corporation presently has an average rating of “Sell” and a consensus price target of $60.00.

Shares of NorthWestern Corporation (NYSE:NWE) traded down 0.29% during midday trading on Monday, hitting $59.24. The company had a trading volume of 823,736 shares. NorthWestern Corporation has a 1-year low of $53.85 and a 1-year high of $63.86. The firm has a market capitalization of $2.87 billion, a P/E ratio of 17.18 and a beta of 0.36. The stock has a 50 day moving average price of $60.04 and a 200 day moving average price of $59.69.

NorthWestern Corporation (NYSE:NWE) last released its quarterly earnings results on Tuesday, July 25th. The utilities provider reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by $0.15. The company had revenue of $283.86 million during the quarter, compared to analysts’ expectations of $302.42 million. NorthWestern Corporation had a net margin of 13.17% and a return on equity of 9.31%. NorthWestern Corporation’s revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm posted $0.65 earnings per share. On average, equities analysts anticipate that NorthWestern Corporation will post $3.39 EPS for the current fiscal year.

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In other NorthWestern Corporation news, VP Patrick R. Corcoran sold 7,487 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $62.72, for a total transaction of $469,584.64. Following the completion of the transaction, the vice president now owns 13,259 shares in the company, valued at approximately $831,604.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.33% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its position in NorthWestern Corporation by 0.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,868 shares of the utilities provider’s stock valued at $222,000 after buying an additional 29 shares during the period. State Street Corp boosted its position in NorthWestern Corporation by 4.3% in the first quarter. State Street Corp now owns 1,681,545 shares of the utilities provider’s stock valued at $98,705,000 after buying an additional 69,473 shares during the period. Norges Bank bought a new stake in shares of NorthWestern Corporation during the fourth quarter valued at $17,903,000. Prudential Financial Inc. increased its stake in shares of NorthWestern Corporation by 135.4% in the first quarter. Prudential Financial Inc. now owns 278,278 shares of the utilities provider’s stock valued at $16,335,000 after buying an additional 160,060 shares in the last quarter. Finally, Tudor Investment Corp ET AL increased its stake in shares of NorthWestern Corporation by 14.3% in the first quarter. Tudor Investment Corp ET AL now owns 9,600 shares of the utilities provider’s stock valued at $564,000 after buying an additional 1,200 shares in the last quarter. Institutional investors own 95.45% of the company’s stock.

NorthWestern Corporation Company Profile

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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