NorthWestern Energy (NWE)
Regulated electric and gas utility serving Montana, South Dakota, Nebraska and Yellowstone.
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Provides regulated electricity and natural gas across Montana, South Dakota, Nebraska and Yellowstone National Park through vertically integrated utility networks. Electric operations produce most revenue, while earnings depend on commission-approved rates, infrastructure investment and cost recovery.
Provides regulated electric service in Montana, South Dakota and Yellowstone National Park, alongside regulated natural-gas service in Montana, South Dakota and Nebraska. The Electric segment generates, purchases, transmits and distributes power; the Gas segment produces, purchases, stores, transports and distributes natural gas. Montana and Yellowstone operations sit under NW Corp, while NWE Public Service covers South Dakota and Nebraska.
Maintains generation portfolios and extensive transmission, distribution, pipeline and storage networks across a dispersed service territory, using owned resources, supply contracts and market purchases to meet demand. Revenue and returns depend on tariffs and cost recovery approved by state commissions and FERC, while weather, commodity supply, environmental rules and continuing capital investment shape operations. A proposed all-stock merger with Black Hills remains subject to Montana regulatory approval.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 22, 2026 | Wells Fargo | Upgrade | ||
| Jul 21, 2026 | Wells Fargo | Reiterate | Rating: —Target: $54 | Target: $62 |
| Apr 21, 2026 | Wells Fargo | Target | Target: $53 | Target: $54 |
| Apr 20, 2026 | Barclays | Target | Target: $62 | Target: $75 |
| Apr 1, 2026 | Ladenburg Thalmann | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $4.2M · Total debt $3.60B · Total assets $8.70B · Shareholders' equity $2.90B
- Revenue
- $392.6M
- Operating income
- $64.2M
- Net income
- $25.0M
HistoryDividendAnnual yield
| Institutions | 96.99% | 59.67M shares | |
|---|---|---|---|
| 380 holders · as of Jun 30, 2026 | |||
| Insiders | 0.90% | 551.3K shares | |
| 19 holders · as of Aug 6, 2026 | |||
| Other | 2.11% | 1.30M shares | |
| remainder | |||
61.52M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 14.74% | 9.07M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.77% | 3.55M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.54% | 2.79M | as of Jun 30, 2026 |
State Street CorpInstitution | 3.95% | 2.43M | as of Jun 30, 2026 |
Geode Capital Management, LLCInstitution | 2.91% | 1.79M | as of Jun 30, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
- Black Hills
Closest regional electric and gas utility peer
- The MDU Resources Group
Northern plains electric and natural gas delivery peer
- Avista
Northwest electric and gas utility peer
- Otter Tail
Northern plains regulated electric utility peer
- IDACORP
Regulated Northwest electric utility peer
- Portland General Electric
Northwest integrated electric utility peer
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| NorthWestern Energy | $69.87 | −0.04% | $4.30B | 25.2 | 18.7 | 2.5 | +14.6% |
| Black Hills | $71.77 | −0.03% | $5.48B | 18.2 | 15.4 | 2.4 | +3.1% |
| The MDU Resources Group | $18.56 | −0.03% | $3.88B | 19.5 | 18.3 | 2.1 | +6.8% |
| Avista | $36.00 | −0.06% | $3.02B | 13.0 | 13.7 | 1.6 | +0.5% |
| Otter Tail | $90.23 | −0.04% | $3.70B | 19.0 | 15.7 | 2.8 | +0.4% |
| IDACORP | $130.33 | +0.02% | $7.55B | 21.6 | 19.7 | 4.2 | +4.2% |
| Portland General Electric | $47.37 | 0.00% | $5.45B | 20.6 | 12.8 | 1.6 | +0.9% |
| Median | 19.3 | 15.6 | 2.3 | +2.0% |