NorthWestern Energy Group, Inc. (NYSE:NWE) Announces Dividend Increase – $0.66 Per Share

NorthWestern Energy Group, Inc. (NYSE:NWE) announced a quarterly dividend on Thursday, February 13th,Wall Street Journal reports. Shareholders of record on Friday, March 14th will be given a dividend of 0.66 per share on Monday, March 31st. This represents a $2.64 annualized dividend and a dividend yield of 4.99%. The ex-dividend date is Friday, March 14th. This is an increase from NorthWestern Energy Group’s previous quarterly dividend of $0.65.

NorthWestern Energy Group has increased its dividend payment by an average of 1.6% annually over the last three years and has increased its dividend annually for the last 19 consecutive years. NorthWestern Energy Group has a dividend payout ratio of 67.0% meaning its dividend is sufficiently covered by earnings. Analysts expect NorthWestern Energy Group to earn $3.63 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 71.6%.

NorthWestern Energy Group Stock Performance

NWE opened at $52.87 on Friday. The business’s 50-day moving average price is $53.11 and its two-hundred day moving average price is $54.14. NorthWestern Energy Group has a 1 year low of $46.40 and a 1 year high of $57.49. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 14.67, a P/E/G ratio of 2.40 and a beta of 0.48. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.45 and a quick ratio of 0.30.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NWE shares. LADENBURG THALM/SH SH raised NorthWestern Energy Group from a “neutral” rating to a “buy” rating and set a $57.50 price target on the stock in a research note on Wednesday, January 15th. Guggenheim raised NorthWestern Energy Group from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Barclays lifted their price target on NorthWestern Energy Group from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. raised their price objective on NorthWestern Energy Group from $56.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, NorthWestern Energy Group currently has an average rating of “Moderate Buy” and an average price target of $59.42.

Insider Activity

In related news, Director Anthony Thomas Clark sold 7,400 shares of NorthWestern Energy Group stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $51.95, for a total transaction of $384,430.00. Following the completion of the transaction, the director now owns 16,816 shares in the company, valued at approximately $873,591.20. This trade represents a 30.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Britt E. Ide sold 700 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $53.57, for a total value of $37,499.00. Following the sale, the director now owns 10,888 shares of the company’s stock, valued at approximately $583,270.16. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. 0.94% of the stock is owned by corporate insiders.

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.