NorthWestern Energy Group, Inc. (NYSE:NWE) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its holdings in NorthWestern Energy Group, Inc. (NYSE:NWE) by 41.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 518,812 shares of the company’s stock after selling 372,287 shares during the quarter. JPMorgan Chase & Co.’s holdings in NorthWestern Energy Group were worth $29,686,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NWE. Meritage Portfolio Management lifted its stake in NorthWestern Energy Group by 1,218.2% in the 3rd quarter. Meritage Portfolio Management now owns 60,954 shares of the company’s stock worth $3,488,000 after acquiring an additional 56,330 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of NorthWestern Energy Group during the third quarter worth approximately $631,000. Systematic Financial Management LP grew its position in NorthWestern Energy Group by 11.8% during the third quarter. Systematic Financial Management LP now owns 1,070,434 shares of the company’s stock valued at $61,250,000 after purchasing an additional 113,265 shares in the last quarter. Federated Hermes Inc. increased its stake in NorthWestern Energy Group by 58.2% in the 2nd quarter. Federated Hermes Inc. now owns 75,032 shares of the company’s stock valued at $3,758,000 after buying an additional 27,601 shares during the period. Finally, Hsbc Holdings PLC lifted its position in NorthWestern Energy Group by 600.3% in the 2nd quarter. Hsbc Holdings PLC now owns 49,555 shares of the company’s stock worth $2,479,000 after buying an additional 42,479 shares in the last quarter. Institutional investors own 96.07% of the company’s stock.

Insider Transactions at NorthWestern Energy Group

In other NorthWestern Energy Group news, Director Anthony Thomas Clark sold 7,400 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $51.95, for a total transaction of $384,430.00. Following the sale, the director now directly owns 16,816 shares in the company, valued at approximately $873,591.20. This trade represents a 30.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Britt E. Ide sold 700 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $53.57, for a total transaction of $37,499.00. Following the completion of the transaction, the director now directly owns 10,888 shares of the company’s stock, valued at approximately $583,270.16. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.94% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company raised their price target on NorthWestern Energy Group from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Barclays raised shares of NorthWestern Energy Group from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $53.00 to $56.00 in a research report on Thursday, December 19th. Mizuho boosted their target price on shares of NorthWestern Energy Group from $52.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Bank of America started coverage on shares of NorthWestern Energy Group in a report on Thursday, September 12th. They set a “buy” rating and a $65.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of NorthWestern Energy Group from $56.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, NorthWestern Energy Group presently has a consensus rating of “Hold” and a consensus target price of $57.50.

NorthWestern Energy Group Stock Performance

NYSE NWE opened at $51.94 on Wednesday. NorthWestern Energy Group, Inc. has a twelve month low of $46.15 and a twelve month high of $57.49. The company has a quick ratio of 0.30, a current ratio of 0.45 and a debt-to-equity ratio of 0.91. The stock has a market cap of $3.18 billion, a P/E ratio of 14.00, a PEG ratio of 2.45 and a beta of 0.48. The company’s 50-day simple moving average is $53.73 and its 200 day simple moving average is $53.64.

NorthWestern Energy Group (NYSE:NWE) last released its quarterly earnings results on Monday, October 28th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.05). NorthWestern Energy Group had a net margin of 15.15% and a return on equity of 7.95%. The firm had revenue of $345.20 million during the quarter, compared to analyst estimates of $344.06 million. During the same quarter last year, the firm earned $0.49 earnings per share. As a group, research analysts forecast that NorthWestern Energy Group, Inc. will post 3.39 earnings per share for the current fiscal year.

NorthWestern Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 5.01%. The ex-dividend date of this dividend was Friday, December 13th. NorthWestern Energy Group’s payout ratio is 70.08%.

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.