Northwestern Corp Stock Price, News & Analysis

NorthWestern Energy (Nasdaq: NWE) has reached settlement agreements in its Montana electric and natural gas regulatory rate review with multiple stakeholders. The agreements, if approved, will result in rate increases for customers effective July 1, 2024:

- Natural gas customers will see a 9.14% monthly increase ($4.74 for typical residential usage)
- Electric customers will face a 4.21% monthly increase ($4.63 for typical residential)

The settlements will increase annual natural gas base revenues by $18 million and electric base revenues by $66.4 million. Including the Yellowstone County Generating Station request, the total electric base revenue request is $110.3 million, though net revenue increase will be $14.6 million after adjustments. The agreements set ROE at 9.60% for natural gas and 9.65% for electric operations, with 47.8% equity component for both.

NorthWestern Energy (Nasdaq: NWE) has announced it will host its first quarter 2025 financial results webinar on April 30, 2025, at 3:30 p.m. Eastern. The company will release detailed financial results on April 29, 2025, evening.

Additionally, NorthWestern will hold its virtual Annual Shareholders Meeting on April 30, 2025, at 11:00 a.m. Eastern, providing equal participation opportunities for all shareholders regardless of location.

The company currently serves approximately 787,000 customers across Montana, South Dakota, Nebraska, and Yellowstone National Park, providing electricity and natural gas services through its subsidiaries NorthWestern and NorthWestern Energy Public Service

NorthWestern Energy (NWE) reported strong financial results for 2024, with diluted GAAP EPS of $3.65, up from $3.22 in 2023. The company's adjusted non-GAAP EPS reached $3.40, compared to $3.27 in 2023. Net income increased to $224.1 million from $194.1 million in the previous year.

Key developments include: completion of the 175MW Yellowstone County Generating Station, announcement of a $2.7 billion 5-year capital plan (11% increase over prior plan), and agreements to acquire additional Colstrip Units 3 & 4 interests. The company increased its quarterly dividend by 1.5% to $0.66 per share and affirmed its 4-6% long-term EPS growth target.

Earnings were driven by rate review resolutions in Montana and South Dakota, higher electric transmission revenues, and income tax benefits, though partially offset by non-recoverable electric supply costs, mild weather, and increased insurance, depreciation, and interest expenses.

NorthWestern Energy (Nasdaq: NWE) has announced it will host an investor webinar on February 13, 2025, at 3:30 p.m. Eastern to review its financial results for the year ending December 31, 2024. The company will release its detailed financial results on February 12, 2025, evening.

NorthWestern Energy provides electricity and natural gas services to approximately 775,300 customers across Montana, South Dakota, Nebraska, and Yellowstone National Park through its subsidiaries NorthWestern and NorthWestern Energy Public Service The company has maintained operations in South Dakota and Nebraska since 1923 and in Montana since 2002.

NorthWestern Energy (Nasdaq: NWE) has announced plans to provide electric supply service to Atlas Power Group's data center in Butte, Montana. The initial energy supply load is expected to be 75 megawatts starting in 2026, with potential growth of another 75 megawatts in the following 3-5 years.

Atlas Power Group, currently a NorthWestern Energy transmission service customer, will partner with NorthWestern Energy for cost-effective and reliable energy supply. The data center will implement demand response capabilities to support grid reliability. This announcement follows another recent agreement to provide energy service for a different data center developer in Montana.

NorthWestern Energy's ability to serve new customers is strengthened by its recent addition of the Yellowstone County Generating Station and anticipated capacity from the Colstrip Plant starting January 2026.

NorthWestern Energy (Nasdaq: NWE) has signed a letter of intent to provide energy services for new data centers in Montana. The project will begin with a minimum 50 megawatts load in 2027, expanding to 250 megawatts or more by 2029. This development will be part of NorthWestern's regulated business, expected to reduce per-customer operating costs of Montana generation resources.

The company's clean energy portfolio, including hydro, wind, and solar resources, along with recent additions like the Yellowstone County Generating Station and upcoming Colstrip Plant capacity (starting January 2026), positions it to serve both existing and new customers reliably at lower costs. The project is anticipated to create new jobs and expand Montana's tax base.

NorthWestern Energy (Nasdaq: NWE) has announced participation in major transmission projects to expand Montana's grid capacity. The company has signed a memorandum of understanding to acquire 10% (300 megawatts) of the North Plains Connector, a 3,000-megawatt, 420-mile high-voltage direct current transmission line connecting Bismarck, North Dakota, and Colstrip, Montana.

The project, developed by Grid United and ALLETE, is expected to begin construction in 2028 and become operational by 2032. The North Plains Connector will be the first interregional transmission line connecting three energy markets: MISO, SPP, and WECC. Additionally, NorthWestern Energy has entered a letter of intent with Grid United to develop transmission infrastructure in Montana's southwest corridor, enhancing connectivity with Western energy markets.

NorthWestern Energy (Nasdaq: NWE) has elected David L. Goodin to its board of directors, effective December 1, 2024. Goodin brings over 40 years of utility industry experience from MDU Resources Group, where he served as president and CEO until January 2024. The appointment temporarily increases the board to ten members, returning to nine on January 1, 2025, following Tony Clark's planned resignation. Goodin's extensive background includes leadership roles at MDU's Utility Group, Cascade Natural Gas, and various industry boards including Edison Electric Institute and American Gas Association.

NorthWestern Energy reported Q3 2024 net income of $46.8 million ($0.76 per share), up from $29.3 million ($0.48 per share) in Q3 2023. The improved performance was driven by new base rates in Montana and South Dakota, higher electric transmission revenues, and an income tax benefit. The company revised its 2024 non-GAAP EPS guidance to $3.32-$3.47 from $3.42-$3.62 due to delayed Montana interim rate relief. The Yellowstone County Generating Station began serving customers in October 2024, with total costs expected between $310-$320 million. The company declared a quarterly dividend of $0.65 per share.