UPDATE: NorthWestern Posts Upbeat Q4 Earnings, Lifts Dividend

NorthWestern Corp. NWE reported better-than-expected earnings for the fourth quarter. The Sioux Falls, South Dakota-based company posted a quarterly profit of $37.2 million, or $0.85 per share, versus $26.1 million, or $0.68 per share, in the year-ago period. Excluding non-recurring items, the company earned $0.89 per share. Its revenue declined 1.9% to $312.9 million. However, analysts were expecting earnings of $0.87 per share on revenue of $350.09 million. The company raised quarterly dividend from $0.40 per share to $0.48 per share. As of December 31, 2014, total net liquidity was around $102.5 million, versus total net liquidity of $175.6 million at December 31, 2013. "We are pleased to deliver strong earnings to our shareholders in a year that also saw a significant amount of hydro related transaction expense," said Bob Rowe, President and Chief Executive officer. For the full year, NorthWestern now projects earnings of $3.10 to $3.30 per share, versus earlier forecast of $3.07 to $3.32 per share. NorthWestern shares fell 1.73% to close at $54.64 yesterday.