Fintel reports that on July 19, 2023, Keybanc maintained coverage of Northwestern (NASDAQ:NWE) with a Overweight recommendation.
Analyst Price Forecast Suggests 6.28% Upside
As of July 6, 2023, the average one-year price target for Northwestern is 60.76. The forecasts range from a low of 46.46 to a high of $71.40. The average price target represents an increase of 6.28% from its latest reported closing price of 57.17.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Northwestern is 1,458MM, a decrease of 5.19%. The projected annual non-GAAP EPS is 3.53.
Northwestern Declares $0.64 Dividend
On April 27, 2023 the company declared a regular quarterly dividend of $0.64 per share ($2.56 annualized). Shareholders of record as of June 15, 2023 received the payment on June 30, 2023. Previously, the company paid $0.64 per share.
At the current share price of $57.17 / share, the stock's dividend yield is 4.48%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.98%, the lowest has been 2.97%, and the highest has been 5.09%. The standard deviation of yields is 0.52 (n=234).
The current dividend yield is 0.95 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.82. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.07%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 697 funds or institutions reporting positions in Northwestern. This is a decrease of 2 owner(s) or 0.29% in the last quarter. Average portfolio weight of all funds dedicated to NWE is 0.21%, a decrease of 10.66%. Total shares owned by institutions increased in the last three months by 2.01% to 73,189K shares. 
The put/call ratio of NWE is 0.06, indicating a bullish outlook.
What are Other Shareholders Doing?
American Century Companies holds 3,583K shares representing 5.99% ownership of the company. In it's prior filing, the firm reported owning 3,485K shares, representing an increase of 2.73%. The firm decreased its portfolio allocation in NWE by 3.32% over the last quarter.
ACMVX - Mid Cap Value Fund Investor Class holds 2,558K shares representing 4.28% ownership of the company. In it's prior filing, the firm reported owning 2,532K shares, representing an increase of 1.02%. The firm decreased its portfolio allocation in NWE by 3.23% over the last quarter.
Victory Capital Management holds 2,300K shares representing 3.85% ownership of the company. In it's prior filing, the firm reported owning 2,286K shares, representing an increase of 0.64%. The firm decreased its portfolio allocation in NWE by 40.36% over the last quarter.
Jpmorgan Chase holds 2,151K shares representing 3.60% ownership of the company. In it's prior filing, the firm reported owning 1,917K shares, representing an increase of 10.87%. The firm increased its portfolio allocation in NWE by 1.09% over the last quarter.
T. Rowe Price Investment Management holds 1,929K shares representing 3.23% ownership of the company. In it's prior filing, the firm reported owning 952K shares, representing an increase of 50.65%. The firm increased its portfolio allocation in NWE by 84.63% over the last quarter.
Northwestern Background Information
(This description is provided by the company.)
NorthWestern Corporation, doing business as NorthWestern Energy, provides electricity and / or natural gas to approximately 734,800 customers in Montana, South Dakota and Nebraska. We have generated and distributed electricity in South Dakota and distributed natural gas in South Dakota and Nebraska since 1923 and have generated and distributed electricity and distributed natural gas in Montana since 2002.
Additional reading:
- Loan Agreement between City of Forsyth, Rosebud County, Montana and NorthWestern Corporation Dated as of June 1, 2023 Relating to $144,660,000 Pollution Control Revenue Refunding Bonds (NorthWestern Corporation Colstrip Project) Series 2023
- BOND DELIVERY AGREEMENT NORTHWESTERN CORPORATION U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, As TRUSTEE Dated as of June 1, 2023 City of Forsyth, Rosebud County, Montana, Pollution Control Revenue Refunding Bonds (Northwestern Corporation Colstrip
- NORTHWESTERN CORPORATION THE BANK OF NEW YORK MELLON (formerly The Bank of New York) MARY MISELIS As Trustees under Mortgage and Deed of Trust, dated as of October 1, 1945, with NorthWestern Corporation FORTY-FOURTH SUPPLEMENTAL INDENTURE Providing,
- Indenture of Trust City of Forsyth, Rosebud County, Montana U.S. Bank Trust Company, National Association, as Trustee Dated as of June 1, 2023 Pollution Control Revenue Refunding Bonds (NorthWestern Corporation Colstrip Project) Series 2023 Table of
- ARTICLE 1. INCREASE IN MAXIMUM AMOUNT
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
