Brandywine Global Investment Management LLC has reduced its stake in NorthWestern Energy Group, Inc. (NYSE: NWE) by 3.8% during the second quarter of 2023. According to a recent filing with the Securities and Exchange Commission, the firm now holds 212,475 shares of NorthWestern, having sold 8,300 shares during this period. This adjustment places Brandywine’s total investment in NorthWestern at approximately $10.9 million, representing a 0.35% ownership stake.
Several other institutional investors have also made notable changes to their positions in NorthWestern Energy. Nuveen LLC established a new position in the company during the first quarter, valued at about $53.54 million. Similarly, Jane Street Group LLC significantly increased its stake by 1,549.9%, acquiring 243,070 shares worth approximately $14.07 million. Jupiter Asset Management Ltd. and AQR Capital Management LLC also made substantial investments, with AQR raising its holdings by 38.9% to own 583,063 shares valued at around $33.48 million. Westwood Holdings Group Inc. lifted its position by 11.7%, now owning 1,118,650 shares worth about $57.39 million.
Market Performance and Dividend Announcement
As of the most recent trading session, shares of NorthWestern Energy Group opened at $65.69. The company has demonstrated solid financial metrics, including a debt-to-equity ratio of 0.94 and a current ratio of 0.52. The stock’s 52-week range is between $50.43 and $67.46, with a market capitalization of $4.03 billion and a PE ratio of 18.00.
On December 31, 2023, NorthWestern Energy will distribute a quarterly dividend of $0.66 to shareholders of record as of December 15. This equates to an annualized dividend of $2.64, yielding approximately 4.0%. The company’s payout ratio currently stands at 74.79%.
Analyst Ratings and Future Outlook
NorthWestern Energy has attracted attention from financial analysts, with Barclays recently raising its price target from $56.00 to $61.00 while maintaining an “overweight” rating. Wells Fargo & Company has also initiated coverage, assigning an “equal weight” rating and setting a price target of $58.00 for the stock.
As it stands, two analysts have issued a Buy rating on NorthWestern Energy, while three others have given it a Hold rating. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $58.75.
NorthWestern Energy Group, Inc. provides essential electricity and natural gas services to residential, commercial, and industrial customers. The company is involved in generating, purchasing, transmitting, and distributing electricity, as well as producing, storing, and distributing natural gas.
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