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MarketScreener Homepage  >  Equities  >  Nasdaq  >  NorthWestern Corporation    NWE

NORTHWESTERN CORPORATION

(NWE)
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NORTHWESTERN CORP : Termination of a Material Definitive Agreement (form 8-K)

10/30/2020 | 03:46pm EST

Item 1.02 Termination of a Material Definitive Agreement.

On October 29, 2020, NorthWestern Corporation d/b/a NorthWestern Energy (Nasdaq: NWE) (the "Company") and Puget Sound Energy, Inc. (the "Seller") mutually agreed to terminate: •The previously announced Colstrip Unit 4 Purchase and Sale Agreement (the "Colstrip Unit 4 Sale Agreement"), entered into by the Company and Seller on December 9, 2019, pursuant to which the Company had agreed to acquire Seller's 25% interest (which was subsequently amended to 12.5% following the exercise of another party's right of first refusal) in Colstrip Unit 4, a coal-fired, base-load electric generation facility located in Colstrip, Montana, for $1; and •The previously announced Transmission System Purchase and Sale Agreement (the "Colstrip Transmission Sale Agreement" and, collectively with the Colstrip Unit 4 Sale Agreement, the "Sale Agreements"), entered into by the Company and Seller on December 9, 2019, pursuant to which the Company had agreed to acquire a portion of Seller's interest in the 500 kilovolt Colstrip Project Transmission System, for net book value at the time of sale, which was expected to range between approximately $2.5 million to $3.8 million, with an option to acquire an additional portion of Seller's interest at a later date. The closing of the Sale Agreements was subject to a number of customary closing conditions, including receipt of regulatory approvals. After evaluating recent Montana regulatory decisions regarding Colstrip and pending regulatory proceedings in Montana and Washington, and pursuant to the terms of the Sale Agreements, the Company and the Seller mutually agreed to (a) terminate the Sale Agreements in accordance with provisions of the respective Sale Agreements, (b) withdraw pending regulatory applications concerning the proposed sale, and (c) release all claims against each other arising out of or relating to the Sale Agreements. The terminations were effective October 29, 2020, and there were no termination penalties incurred by either party.

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2020 1 247 M - -
Net income 2020 170 M - -
Net Debt 2020 2 345 M - -
P/E ratio 2020 17,9x
Yield 2020 4,07%
Capitalization 2 991 M 2 991 M -
EV / Sales 2020 4,28x
EV / Sales 2021 4,23x
Nbr of Employees 1 533
Free-Float 92,3%
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Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 63,63 $
Last Close Price 59,13 $
Spread / Highest target 20,1%
Spread / Average Target 7,60%
Spread / Lowest Target -8,68%
EPS Revisions
Managers and Directors
NameTitle
Robert C. Rowe President, Chief Executive Officer & Director
Stephen P. Adik Chairman
Brian B. Bird Chief Financial Officer & Vice President
Travis Meyer Director-Finance & Investor Relations Officer
Jeanne M. Vold Business Technology Officer
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