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NorthWestern Energy Group, Inc.'s SEC filings document the formal disclosures of a regulated electric and natural gas utility with operations in Montana, South Dakota, Nebraska, and Yellowstone National Park. The record includes 8-K reports on operating results, Regulation FD presentations, material agreements, capital-structure actions, and annual meeting voting results.
Proxy and governance filings cover director elections, auditor ratification, executive compensation votes, board matters, and shareholder voting mechanics. Debt-related disclosures include NorthWestern Corporation financing arrangements, including Montana First Mortgage Bonds, indenture terms, secured-debt ranking, and intended uses of proceeds. The filings also address utility business risks, financial condition, and corporate governance for the public parent company.
NorthWestern Energy Group is using an investor presentation at several utility conferences to reaffirm its 2026 non-GAAP earnings guidance of $3.68 to $3.83 per diluted share. The company outlines a regulated utility strategy built on a largely carbon-free power mix, customer growth in Montana and South Dakota, and a five-year capital plan of about $3.21 billion aimed at driving 4%–6% annual EPS and rate base growth from a 2024 base.
The materials also highlight the pending merger with Black Hills Corporation, which would create a combined utility serving more than 2.1 million customers with an estimated total rate base of roughly $11 billion and a higher long-term EPS growth target of 5%–7%, subject to remaining regulatory approvals. NorthWestern emphasizes maintaining investment-grade credit metrics, targeting an FFO-to-debt ratio above 14%, a 50%–55% debt-to-capitalization range, and a long-term dividend payout ratio of 60%–70%, while planning equity issuance beginning in 2027 to help fund South Dakota generation investments.
NorthWestern Energy Group, Inc. is furnishing an investor presentation used at the AGA Financial Conference and affirming its 2026 non-GAAP earnings guidance of $3.68 to $3.83 per diluted share. The guidance assumes about 4% to 6% EPS and rate base growth from a 2024 base, supported by a $3.21 billion five-year capital plan and a target FFO-to-debt ratio above 14%.
The materials describe a pending merger with Black Hills Corporation that would create a combined utility serving more than 2.1 million customers and targeting 5% to 7% EPS growth with roughly $11 billion of total rate base. NorthWestern highlights a largely regulated electric and gas business, about 52% carbon-free owned and contracted supply, and a long history of dividend growth with a targeted 60% to 70% payout ratio. The presentation also emphasizes wildfire liability reforms in Montana and South Dakota, planned wildfire mitigation programs, and large-load and data center opportunities that may require incremental generation and transmission investment.
NorthWestern Energy Group director Jeffrey W. Yingling received a stock-based compensation grant. On May 11, 2026, he acquired 569 shares of common stock at a grant price of $65.94 per share as a second-quarter 2026 stock grant for non-employee directors.
The filing notes that shares were issued as deferred share units, with the grant price set as of March 31, 2026. After this award and including prior deferred share units and dividend reinvestment, Yingling directly holds 23,616 shares.
HORSFALL JAN ROBERT reported acquisition or exercise transactions in this Form 4 filing.
NorthWestern Energy Group, Inc. director Jan Robert Horsfall received a stock grant of 569 shares of common stock valued at $65.94 per share. The grant represents his second quarter 2026 compensation under the company’s rate schedule for non-employee directors.
These shares were issued as deferred share units on May 11, 2026 using a grant price set as of March 31, 2026, and will be settled after his termination of service. Following this award, Horsfall directly and through deferred share units holds a total of 11,109 shares, including shares accumulated through dividend reinvestment.
NorthWestern Energy Group, Inc. held its Annual Meeting of Stockholders on April 30, 2026, with strong participation. A total of 55,972,114 shares were represented in person or by proxy, reflecting over 91% of the 61,499,066 shares entitled to vote.
Stockholders elected all nine incumbent directors to one-year terms expiring at the 2027 annual meeting. They also ratified Deloitte & Touche LLP as independent registered public accounting firm for 2026 and approved, on an advisory basis, executive compensation for the company’s named executive officers.
Northwestern Energy Group Inc — Vanguard Capital Management reported beneficial ownership of 3,273,970 shares of Common Stock, representing 5.32% of the class as of 03/31/2026. The filing states this holding reflects positions across Vanguard affiliates and managed accounts.
NorthWestern Energy Group reported mixed first quarter 2026 results while advancing a major merger and growth projects. GAAP diluted EPS was $1.03 versus $1.25 a year ago as net income fell to $63.5 million from $76.9 million, driven by weaker retail volumes and higher operating, merger, Colstrip and depreciation costs.
Non-GAAP diluted EPS rose to $1.31 from $1.22, reflecting adjustments for unfavorable weather, merger costs, PCCAM changes and Avista Colstrip interests. Revenue increased to $497.6 million from $466.6 million, and utility margin grew to $352.0 million from $328.4 million, helped by Montana electric base rate increases and Puget Colstrip margins.
The company affirmed 2026 non-GAAP EPS guidance of $3.68–$3.83 per diluted share and long‑term EPS and rate base growth of 4%–6%, supported by a $3.2 billion 2026‑2030 capital plan and a record $683 million 2026 capital program. A quarterly dividend of $0.67 per share is payable June 30, 2026.
NorthWestern highlighted progress on its all‑stock merger of equals with Black Hills Corporation, including shareholder approvals, regulatory settlements in Montana, Nebraska and South Dakota, and expiration of the Hart‑Scott‑Rodino waiting period, with closing targeted in the second half of 2026. The company also detailed Colstrip acquisitions, South Dakota wildfire liability reforms, data center development agreements and a planned $300 million, 131 MW South Dakota gas plant, alongside a $150 million bond issuance at 5.51% to refinance $60 million of 2.80% bonds.
NorthWestern Energy Group reported first-quarter 2026 net income of $63.5 million, down from $76.9 million a year earlier, as higher operating, merger-related, Colstrip and depreciation costs and warmer weather more than offset new rates and stronger transmission revenue.
Total revenues rose to $497.6 million from $466.6 million, and non‑GAAP utility margin increased to $352.0 million from $328.4 million, driven mainly by higher electric base rates and margin from the acquired Puget Colstrip interests. However, electric and natural gas retail volumes fell on milder winter conditions, pressuring earnings.
The company continued to advance its all‑stock merger of equals with Black Hills Corporation, under which each NorthWestern share is expected to convert into 0.98 shares of Black Hills common stock. Key shareholder approvals and antitrust clearance have been obtained, while FERC and state commission approvals remain pending. NorthWestern ended the quarter with $27.6 million in cash and $225.0 million of revolver availability.
Northwestern Energy Group Inc reported that Vanguard Portfolio Management beneficially owned 3,513,465 shares of common stock, representing 5.71% of the class as of 03/31/2026. The filing shows Vanguard has sole dispositive power over the shares and sole voting power for 23,728 shares.
Edwards Sherina M. reported acquisition or exercise transactions in this Form 4 filing.
NorthWestern Energy Group director Sherina M. Edwards received a stock grant of 569 shares of Common Stock as part of her 2026 second quarter compensation. The grant was made at $65.94 per share under the company’s compensation rate schedule for non-employee directors, bringing her direct holdings to 9,454 shares.