Clark Anthony Thomas, a director at NorthWestern Energy Group, Inc. (NASDAQ:NWE), recently sold 7,400 shares of the company's common stock. The utility company, currently valued at $3.12 billion, trades at a modest P/E ratio of 13.8 and offers shareholders a substantial 5.1% dividend yield. According to InvestingPro, NWE has maintained dividend payments for 20 consecutive years. The transactions, executed on December 12, were carried out at prices ranging from $51.88 to $52.06, with a weighted average sale price of $51.95. This sale totaled approximately $384,430. Following the transaction, Thomas holds 16,816 shares of NorthWestern Energy. InvestingPro analysis indicates the stock is currently fairly valued, with 8 additional key insights available to subscribers through the comprehensive Pro Research Report.
In other recent news, NorthWestern Energy Group reported its Q3 2024 financial results, revealing a GAAP diluted EPS of $0.76 and a non-GAAP diluted EPS of $0.65. The company also adjusted its 2024 non-GAAP EPS guidance to a range of $3.32 to $3.47, attributing the revision to delays in interim rates in Montana. NorthWestern's net income for the same quarter rose to $46.8 million, a growth driven by regulatory outcomes and increased transmission revenues.
In recent developments, the company reaffirmed its long-term EPS growth target of 4% to 6% and announced a dividend of $0.65 per share. NorthWestern Energy also highlighted the operational start of the Yellowstone County Generating Station and the allocation of $21 million for Colstrip transmission upgrades, funded by a Department of Energy grant.
However, the company is facing regulatory challenges, with interim rate relief in Montana expected by December 2024. This situation has impacted NorthWestern's cost of capital and credit metrics. Despite these challenges, the company remains optimistic about future opportunities in generation and transmission. NorthWestern Energy anticipates updating their Integrated Resource Plan by 2026, with ongoing litigation related to EPA's MATS rules potentially affecting operations.
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