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Northwestern (NWE) Gets a Hold from Wells Fargo

Wells Fargo analyst Jonathan Reeder maintained a Hold rating on Northwestern (NWEResearch Report) today and set a price target of $53.00. The company’s shares closed yesterday at $50.56.

Reeder covers the Utilities sector, focusing on stocks such as American States Water, Brookfield Infrastructure, and Brookfield Renewable Partners. According to TipRanks, Reeder has an average return of 5.8% and a 56.18% success rate on recommended stocks.

Northwestern has an analyst consensus of Moderate Buy, with a price target consensus of $54.40, representing a 7.59% upside. In a report released on October 24, Guggenheim also maintained a Hold rating on the stock with a $48.00 price target.

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Based on Northwestern’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $323 million and a net profit of $29.79 million. In comparison, last year the company earned a revenue of $298.22 million and had a net profit of $37.24 million

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NorthWestern Corp. engages in generating and distributing electricity and natural gas. It operates through the following segments: Electric Utility Operations, Natural Gas Operations, and All Other. The Electric Utility Operations segment includes generation, transmission, and distribution of electric utility business as a vertically integrated generation transmission and distribution utility. The Natural Gas Operations segment comprises production, storage, transmission, and distribution of natural gas. The All Other segment consists of unallocated corporate costs. The company was founded in November 1923 and is headquartered in Sioux Falls, SD.

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