Envestnet Asset Management Inc. Cuts Stock Holdings in NorthWestern Energy Group, Inc. (NYSE:NWE)

Envestnet Asset Management Inc. reduced its position in NorthWestern Energy Group, Inc. (NYSE:NWE) by 5.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 125,921 shares of the company’s stock after selling 6,964 shares during the period. Envestnet Asset Management Inc. owned 0.21% of NorthWestern Energy Group worth $6,306,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in NorthWestern Energy Group by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 6,780,298 shares of the company’s stock worth $345,049,000 after buying an additional 187,619 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of NorthWestern Energy Group by 0.5% during the second quarter. American Century Companies Inc. now owns 3,968,413 shares of the company’s stock valued at $198,738,000 after acquiring an additional 19,748 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of NorthWestern Energy Group by 0.9% during the second quarter. Victory Capital Management Inc. now owns 2,128,539 shares of the company’s stock valued at $106,597,000 after buying an additional 19,369 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of NorthWestern Energy Group by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 849,064 shares of the company’s stock valued at $42,521,000 after buying an additional 12,091 shares during the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of NorthWestern Energy Group by 1.8% during the first quarter. ProShare Advisors LLC now owns 797,125 shares of the company’s stock valued at $40,598,000 after buying an additional 13,753 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on NWE shares. Wells Fargo & Company raised their price objective on NorthWestern Energy Group from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Barclays upped their price objective on NorthWestern Energy Group from $50.00 to $53.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. Bank of America began coverage on NorthWestern Energy Group in a research report on Thursday, September 12th. They set a “buy” rating and a $65.00 price target on the stock. Finally, StockNews.com upgraded NorthWestern Energy Group from a “hold” rating to a “buy” rating in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $54.88.

NorthWestern Energy Group Stock Performance

NYSE:NWE opened at $57.27 on Monday. NorthWestern Energy Group, Inc. has a 52 week low of $45.97 and a 52 week high of $57.48. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 2.61 and a beta of 0.46. The company has a quick ratio of 0.36, a current ratio of 0.52 and a debt-to-equity ratio of 0.92. The company has a fifty day simple moving average of $54.12 and a two-hundred day simple moving average of $51.68.

NorthWestern Energy Group (NYSE:NWE) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.05. NorthWestern Energy Group had a return on equity of 7.65% and a net margin of 14.21%. The company had revenue of $319.90 million for the quarter, compared to analyst estimates of $310.40 million. During the same quarter last year, the company posted $0.35 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts anticipate that NorthWestern Energy Group, Inc. will post 3.56 earnings per share for the current fiscal year.

NorthWestern Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.60 annualized dividend and a yield of 4.54%. NorthWestern Energy Group’s payout ratio is currently 80.50%.

Insider Buying and Selling at NorthWestern Energy Group

In other NorthWestern Energy Group news, Director Britt E. Ide sold 688 shares of NorthWestern Energy Group stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $51.92, for a total transaction of $35,720.96. Following the completion of the transaction, the director now owns 10,778 shares in the company, valued at $559,593.76. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.94% of the stock is currently owned by corporate insiders.

NorthWestern Energy Group Profile

NorthWestern Energy Group, Inc provides electricity and natural gas to residential, commercial, and various industrial customers. It generates, purchases, transmits, and distributes electricity; and produces, purchases, stores, transmits, and distributes natural gas, as well as owns municipal franchises to provide natural gas service in the communities.