Envestnet Asset Management Inc. Sells 6,964 Shares of NorthWestern Energy Group, Inc. (NYSE:NWE)

Envestnet Asset Management Inc. lessened its position in NorthWestern Energy Group, Inc. (NYSE:NWE) by 5.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,921 shares of the company’s stock after selling 6,964 shares during the quarter. Envestnet Asset Management Inc.’s holdings in NorthWestern Energy Group were worth $6,306,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Oppenheimer Asset Management Inc. grew its stake in shares of NorthWestern Energy Group by 41.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,544 shares of the company’s stock valued at $378,000 after purchasing an additional 2,229 shares during the period. Federated Hermes Inc. raised its stake in NorthWestern Energy Group by 58.2% during the 2nd quarter. Federated Hermes Inc. now owns 75,032 shares of the company’s stock worth $3,758,000 after buying an additional 27,601 shares during the period. Meeder Advisory Services Inc. increased its stake in NorthWestern Energy Group by 83.2% during the 2nd quarter. Meeder Advisory Services Inc. now owns 11,643 shares of the company’s stock worth $583,000 after purchasing an additional 5,289 shares in the last quarter. BOKF NA raised its holdings in shares of NorthWestern Energy Group by 94.8% during the second quarter. BOKF NA now owns 6,087 shares of the company’s stock worth $305,000 after acquiring an additional 2,963 shares during the period. Finally, American Century Companies Inc. lifted its stake in NorthWestern Energy Group by 0.5% in the 2nd 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. Institutional investors and hedge funds own 96.07% of the company’s stock.

Insiders Place Their Bets

In other news, Director Britt E. Ide sold 688 shares of the business’s stock in a transaction on 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 directly owns 10,778 shares in the company, valued at approximately $559,593.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wells Fargo & Company boosted their price target on NorthWestern Energy Group from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Bank of America assumed coverage on NorthWestern Energy Group in a research note on Thursday, September 12th. They issued a “buy” rating and a $65.00 price target on the stock. Barclays lifted their price objective on shares of NorthWestern Energy Group from $50.00 to $53.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. Finally, StockNews.com upgraded shares of NorthWestern Energy Group from a “hold” rating to a “buy” rating in a research report on Wednesday, September 25th. One equities 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 company. Based on data from MarketBeat.com, NorthWestern Energy Group currently has a consensus rating of “Hold” and a consensus price target of $54.88.

NorthWestern Energy Group Stock Performance

Shares of NorthWestern Energy Group stock opened at $57.27 on Monday. NorthWestern Energy Group, Inc. has a 1-year low of $45.97 and a 1-year high of $57.48. The company has a current ratio of 0.52, a quick ratio of 0.36 and a debt-to-equity ratio of 0.92. The business has a 50-day moving average price of $54.12 and a two-hundred day moving average price of $51.68. The company has a market cap of $3.51 billion, a P/E ratio of 17.73, a PEG ratio of 2.61 and a beta of 0.46.

NorthWestern Energy Group (NYSE:NWE) last issued its earnings results on Tuesday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $310.40 million. During the same period last year, the business earned $0.35 EPS. NorthWestern Energy Group’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, analysts anticipate that NorthWestern Energy Group, Inc. will post 3.56 EPS for the current year.

NorthWestern Energy Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date is Friday, September 13th. NorthWestern Energy Group’s dividend payout ratio is currently 80.50%.

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.