Magellan Asset Management Ltd Trims Stock Position in NorthWestern Energy Group, Inc. (NYSE:NWE)

Magellan Asset Management Ltd trimmed its holdings in NorthWestern Energy Group, Inc. (NYSE:NWE) by 5.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 49,671 shares of the company’s stock after selling 3,044 shares during the period. Magellan Asset Management Ltd owned approximately 0.08% of NorthWestern Energy Group worth $2,655,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in shares of NorthWestern Energy Group during the 3rd quarter worth $631,000. Systematic Financial Management LP lifted its position in NorthWestern Energy Group by 11.8% in the third quarter. Systematic Financial Management LP now owns 1,070,434 shares of the company’s stock valued at $61,250,000 after buying an additional 113,265 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of NorthWestern Energy Group during the fourth quarter valued at about $401,000. Envestnet Portfolio Solutions Inc. raised its stake in shares of NorthWestern Energy Group by 14.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 22,989 shares of the company’s stock valued at $1,229,000 after acquiring an additional 2,828 shares during the period. Finally, Barclays PLC lifted its holdings in shares of NorthWestern Energy Group by 204.7% in the 3rd quarter. Barclays PLC now owns 110,571 shares of the company’s stock worth $6,327,000 after acquiring an additional 74,278 shares during the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Guggenheim upgraded shares of NorthWestern Energy Group from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. LADENBURG THALM/SH SH raised NorthWestern Energy Group from a “neutral” rating to a “buy” rating and set a $57.50 price objective for the company in a research note on Wednesday, January 15th. Finally, Barclays decreased their target price on NorthWestern Energy Group from $57.00 to $56.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, NorthWestern Energy Group has an average rating of “Moderate Buy” and a consensus price target of $59.25.

NorthWestern Energy Group Trading Up 0.7 %

NYSE:NWE opened at $58.90 on Thursday. The stock has a fifty day moving average price of $54.89 and a 200 day moving average price of $54.57. The company has a current ratio of 0.52, a quick ratio of 0.37 and a debt-to-equity ratio of 0.94. NorthWestern Energy Group, Inc. has a 12-month low of $47.48 and a 12-month high of $58.99. The firm has a market cap of $3.61 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 2.40 and a beta of 0.33.

NorthWestern Energy Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.66 per share. The ex-dividend date was Friday, March 14th. This is an increase from NorthWestern Energy Group’s previous quarterly dividend of $0.65. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.48%. NorthWestern Energy Group’s payout ratio is currently 72.33%.

Insider Buying and Selling

In other news, Director Britt E. Ide sold 702 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $54.32, for a total value of $38,132.64. Following the sale, the director now directly owns 11,021 shares in the company, valued at approximately $598,660.72. This trade represents a 5.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.94% of the company’s stock.

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.