NWE - NorthWestern Corporation's 5-Year Capital Program Will Drive Long-Term Growth Despite COVID-19 In The Near Term
Investment Thesis
NorthWestern Corporation (NWE) delivered better than expected Q2 2020 despite the lockdown caused by the pandemic. Management expects the impact of COVID-19 to gradually recede towards the end of 2020. NorthWestern plans to invest $1.8 billion of capital in the next 5 years to grow its EPS and dividend through 2024. The company currently pays a growing 4.2%-yielding dividend. The stock is also trading at a discount to its historical average and to its peers. Therefore, we believe this is a stock suitable for investors with a long-term investment horizon seeking