Norges Bank Invests $40.24 Million in NorthWestern Energy Group, Inc. (NYSE:NWE)

Norges Bank acquired a new stake in shares of NorthWestern Energy Group, Inc. (NYSE:NWE) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 752,631 shares of the company’s stock, valued at approximately $40,236,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. S.A. Mason LLC purchased a new stake in NorthWestern Energy Group during the 4th quarter worth approximately $30,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of NorthWestern Energy Group during the third quarter worth $35,000. AdvisorNet Financial Inc grew its holdings in shares of NorthWestern Energy Group by 29.3% during the fourth quarter. AdvisorNet Financial Inc now owns 883 shares of the company’s stock valued at $47,000 after buying an additional 200 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of NorthWestern Energy Group by 91.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 971 shares of the company’s stock valued at $52,000 after acquiring an additional 465 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in NorthWestern Energy Group by 280.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,203 shares of the company’s stock worth $64,000 after acquiring an additional 887 shares during the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Transactions at NorthWestern Energy Group

In related news, Director Britt E. Ide sold 702 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $54.32, for a total value of $38,132.64. Following the completion of the transaction, the director now owns 11,021 shares of the company’s stock, valued at approximately $598,660.72. This represents a 5.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.94% of the company’s stock.

NorthWestern Energy Group Price Performance

Shares of NYSE NWE opened at $56.33 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.52 and a quick ratio of 0.37. The firm’s 50 day simple moving average is $55.02 and its 200-day simple moving average is $54.58. NorthWestern Energy Group, Inc. has a 12 month low of $47.48 and a 12 month high of $59.52. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 2.40 and a beta of 0.33.

NorthWestern Energy Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.66 dividend. This is a boost from NorthWestern Energy Group’s previous quarterly dividend of $0.65. The ex-dividend date was Friday, March 14th. This represents a $2.64 dividend on an annualized basis and a yield of 4.69%. NorthWestern Energy Group’s payout ratio is presently 72.33%.

About NorthWestern Energy Group

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.