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NWE

NORTHWESTERN ENERGY GROUP, INC.

At today's price, NORTHWESTERN ENERGY GROUP, INC. (NWE) is priced for -1.7% growth. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.

Live priced in
-1.7% growth
Priced In
within-range

Key Takeaways

• NorthWestern Energy is a regulated electric and gas utility serving Montana, South Dakota, and Nebraska, earning a return set by regulators on a growing base of infrastructure, and it targets 4% to 6% long-term earnings and rate-base growth. [Source: NorthWestern Energy Q1 2026 results, 2026] • The defining event is the pending all-stock merger with Black Hills to form a larger eight-state utility, which has cleared FERC and shareholders but still needs state approvals before an expected secon

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Institutional ownership

360 institutional managers reported holding NWE in 13F filings for the quarter ended 2026-03-31. 45 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 1.7M shares were sold short as of the 2026-06-15 count, about 3% of shares outstanding (2.5 days of typical volume to cover).

Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.

Capital returns

It pays a dividend, and has paid one every year in our records (4 and counting), raised 3 years straight; the current rate is $2.64 a share annually. Cash returned over the past three years: $438.98M in dividends.

Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.

Insider activity

Open-market insider buys at NWE over the trailing three years: 2024: 1 buy totaling $49k. 19 officers and directors are on file.

Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.

Earnings reactions

NWE's recent reports: the day-one move, then what the following quarter actually did.

reportday onenext quarter
2024-02-16+4.6%+2.7%
2024-04-27-0.7%+1.1%
2024-08-01-0.1%+4.7%
2025-02-14-4.0%+13.1%

Day-one is the close-to-close move around the filing. Nothing here is investment advice.

Recent filings

NWE's latest 8-K filings: 2026-06-22 (items 1.01, 2.03, 9.01); 2026-06-02 (items 1.01, 2.03, 9.01); 2026-06-02 (items 7.01, 9.01); 2026-05-27 (items 7.01, 9.01); 2026-05-18 (items 7.01, 9.01).

Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.

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Last analyzed: June 27, 2026

For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.