Sifting through countless of stocks in the Multi-Utilities industry can be tedious, and sometimes two stocks are just too similar to judge which is the better investment. If you’re on the fence about investing in NorthWestern Energy Group, Inc. or Black Hills Corporation because you’re not sure how they measure up, it’s important to compare them on a few factors before making your decision.

Read on to learn how NorthWestern Energy Group, Inc. and Black Hills Corporation compare based on key financial metrics to determine which better meets your investment needs.

About NorthWestern Energy Group, Inc. and Black Hills Corporation

NorthWestern Energy Group, Inc., doing business as NorthWestern Energy, provides electricity and natural gas to residential, commercial, and diversified industrial customers. It generates, purchases, transmits, and distributes electricity; and produces, purchases, stores, transmits, and distributes natural gas, as well as owns municipal franchises to provide natural gas service in the communities. The company operates 6,596 miles of electric transmission and 18,946 miles of electric distribution lines with approximately 397 transmission and distribution substations; and 2,133 miles of natural gas transmission and 5,939 miles of natural gas distribution lines with approximately 134 city gate stations in Montana. It also operates 1,344 miles of electric transmission and 2,386 miles of electric distribution lines in South Dakota with approximately 123 transmission and distribution substations; and 55 miles of natural gas transmission, 1,853 miles of natural gas distribution lines in South Dakota, and 836 miles of natural gas distribution lines Nebraska. The company provides electricity and/or natural gas to approximately 850,300 customers in Montana, South Dakota, Nebraska, and Yellowstone National Park. NorthWestern Energy Group, Inc. was incorporated in 1923 and is based in Sioux Falls, South Dakota.

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates through the Electric Utilities and Gas Utilities segments. The Electric Utilities segment engages in the generation, transmission, and distribution of electricity to electric utility customers in Colorado, Montana, South Dakota, and Wyoming; ownership and operation of 1,386 megawatts of generation capacity, and 9,478 miles of electric transmission and distribution lines; sale of excess power to other utilities and marketing companies; and ownership and operation of non-regulated power generation and mining assets. Its Gas Utilities segment is involved in the distribution of natural gas to approximately 1,138,000 natural gas utility customers in Arkansas, Colorado, Iowa, Kansas, Nebraska, and Wyoming; ownership and operation of 4,581 miles of intrastate gas transmission pipelines; 44,840 miles of gas distribution mains and service lines; seven natural gas storage sites; and approximately 50,000 horsepower of compression and 494 miles of gathering lines. The company also provides non-regulated services to its retail customers, including Service Guard Comfort Plan, which provides home appliance repair services through on-going monthly service agreements to residential utility customers; Tech Services, which include construction and maintenance of customer-owned gas infrastructure facilities, as well as electrical system construction services; and HomeServe, which are additional home repair service plans for natural gas residential customers. In addition, the company produces electric power through wind, natural gas, and coal-fired generating plants, as well as coal at its coal mine located near Gillette, Wyoming. Black Hills Corporation was incorporated in 1941 and is headquartered in Rapid City, South Dakota.

Latest Multi-Utilities and NorthWestern Energy Group, Inc., Black Hills Corporation Stock News

As of September 1, 2026, NorthWestern Energy Group, Inc. had a $4.3 billion market capitalization, compared to the Multi-Utilities median of $26.0 million. NorthWestern Energy Group, Inc.’s stock is up 9.5% in 2026, down 1.1% in the previous five trading days and up 21.56% in the past year.

Currently, NorthWestern Energy Group, Inc.’s price-earnings ratio is 25.2. NorthWestern Energy Group, Inc.’s trailing 12-month revenue is $1.7 billion with a 10.1% net profit margin. Year-over-year quarterly sales growth most recently was 14.6%. Analysts expect adjusted earnings to reach $3.751 per share for the current fiscal year. NorthWestern Energy Group, Inc. currently has a 3.8% dividend yield.

As of September 1, 2026, Black Hills Corporation had a $5.5 billion market cap, putting it in the 69th percentile of all stocks. Black Hills Corporation’s stock is up 5.1% in 2026, down 1.1% in the previous five trading days and up 21.05% in the past year.

Currently, Black Hills Corporation’s price-earnings ratio is 18.2. Black Hills Corporation’s trailing 12-month revenue is $2.3 billion with a 13.0% net profit margin. Year-over-year quarterly sales growth most recently was 3.1%. Analysts expect adjusted earnings to reach $4.338 per share for the current fiscal year. Black Hills Corporation currently has a 3.9% dividend yield.

How We Compare NorthWestern Energy Group, Inc. and Black Hills Corporation Stock Grades

Stock evaluation requires access to huge amounts of data and the knowledge and time to sift through it all, make sense of financial ratios, read income statements and analyze recent stock movements. AAII created A+ Investor, a robust data suite that condenses data research in an actionable and customizable way suitable for investors of all knowledge levels, to help investors streamline and work through such data.

AAII’s proprietary stock grades come with A+ Investor. These offer intuitive A‐F grades for each of five key investing factors: value, growth, momentum, earnings estimate revisions and quality. Here, we’ll take a closer look at NorthWestern Energy Group, Inc. and Black Hills Corporation’s stock grades to see how they measure up against one another.

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NorthWestern Energy Group, Inc. and Black Hills Corporation Growth Grades

Company	Ticker	Growth
NorthWestern Energy Group, Inc.	NWE	A
Black Hills Corporation	BKH	C

The foundation of growth investing is seeking out stocks of companies exhibiting strong, consistent and prolonged growth that is expected to continue into the future.

In order to compute the growth score and assign it a letter grade, the percentile ranks for each of three components‐consistency of annual sales growth, five-year sales growth rankings adjusted for extreme levels, and consistency of positive annual cash from operations‐must be determined. These three rank figures are added together, and the sum is ranked against the entire stock universe to arrive at a company’s Growth Score to create an equal distribution of grades.

The companies in the bottom 20% of the stock universe receive Growth Grades of F, considered to be very weak, while those in the top 20% receive A grades, which are considered very strong.

NorthWestern Energy Group, Inc. has a Growth Score of 95, which is Very Strong. Black Hills Corporation has a Growth Score of 47, which is Average.

The Growth Grade Winner: NorthWestern Energy Group, Inc.

As you can clearly see from the Growth Grade breakdown above, NorthWestern Energy Group, Inc. has a more attractive growth grade than Black Hills Corporation. For investors who focus solely on how a company is growing relative to other companies in the same industry, NorthWestern Energy Group, Inc. could be a good stock to add to their portfolio. However, it’s important for investors to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

NorthWestern Energy Group, Inc. and Black Hills Corporation’s Momentum Grades

Company	Ticker	Momentum
NorthWestern Energy Group, Inc.	NWE	C
Black Hills Corporation	BKH	C

Momentum grades help to uncover stocks experiencing anomalously high rates of return; research finds that stocks with high relative levels of momentum tend to outperform, whereas those with low levels of momentum tend to continue underperforming. Momentum is based on the price change of a stock over a specified period relative to all other stocks.

Typically, AAII looks at the weighted relative strength over the trailing four quarters. The weighted four-quarter relative strength rank is the relative price change for each of the past four quarters. The most recent quarterly price change is given a weight of 40% and each of the three previous quarters are given a weighting of 20%.

NorthWestern Energy Group, Inc. has a Momentum Score of 55, which is Average. Black Hills Corporation has a Momentum Score of 55, which is Average.

The Momentum Stock Winner: No Clear Winner

Neither NorthWestern Energy Group, Inc. or Black Hills Corporation has a strong enough Momentum Grade to be considered a “winner.” Investors considering these companies should do additional due diligence and research to see if either could be a good addition to their portfolios. It’s important to look at a wide range of financial metrics in order to determine if NorthWestern Energy Group, Inc. or Black Hills Corporation is the better investment when it comes to momentum.

NorthWestern Energy Group, Inc. and Black Hills Corporation’s Estimate Revisions Grades

Company	Ticker	Earnings Estimate
NorthWestern Energy Group, Inc.	NWE	C
Black Hills Corporation	BKH	C

Earnings estimate revisions scores consider the magnitude of a company’s earnings surprise in its last two reported fiscal quarters. Often, positive surprises beget further positive surprises‐or at least continued sales growth (the exact opposite is generally true, too).

Estimate revisions offer an indication of what analysts are thinking about the short-term prospects of a firm. Estimate revisions are based on the statistical significance of a firm’s last two quarterly earnings surprises and the percentage change in its consensus estimate for the current fiscal year over the past month and past three months.

NorthWestern Energy Group, Inc. has a Earnings Estimate Score of 51, which is Neutral. Black Hills Corporation has a Earnings Estimate Score of 45, which is Neutral.

The Earnings Estimate Revisions Stock Winner: No Clear Winner

Neither NorthWestern Energy Group, Inc. or Black Hills Corporation has an Earnings Estimate Revisions Grade that could be considered a “winner.” Investors considering these companies should do additional due diligence and research to see if either could be a good addition to their portfolios. It’s important to look at a wide range of financial metrics in order to determine if NorthWestern Energy Group, Inc. or Black Hills Corporation is the better investment when it comes to estimate revisions.

Other NorthWestern Energy Group, Inc. and Black Hills Corporation Grades

In addition to Growth, Momentum and Estimate Revisions, A+ Investor also provides grades for Value and Quality.

Successful stock investing involves buying low and selling high, so stock valuation is an important consideration for stock selection. Buying stocks that are going to go up typically means buying stocks that are undervalued in the first place, although momentum investors may argue that point.

AAII’s A+ Investor Quality Grade comes from the ranking of key metrics. Specifically, the quality grade is the percentile rank of the composite of return on assets (ROA), return on invested capital (ROIC), gross profit relative to assets, buyback yield, change in total liabilities to assets, accruals, Z double prime bankruptcy risk (Z) score and F-Score.

These 2 key factors, when combined with the above, provide a holistic view into a particular stock. Further, by joining A+ Investor you can see whether NorthWestern Energy Group, Inc. and Black Hills Corporation pass any of our 60+ stock screens that have outperformed the market since their creation.

So, Which Is the Better Investment, NorthWestern Energy Group, Inc. or Black Hills Corporation Stock?

Overall, NorthWestern Energy Group, Inc. stock has a Growth Score of 95, Momentum Score of 55 and Estimate Revisions Score of 51.

Black Hills Corporation stock has a Growth Score of 47, Momentum Score of 55 and Estimate Revisions Score of 45.

Comparing NorthWestern Energy Group, Inc. and Black Hills Corporation’s grades, scores and metrics can act as a solid basis to determine whether they may be a good investment or not. You’ll also want to look at your portfolio’s asset allocation as well as your risk tolerance and financial goals to see if either of these stocks would make a good fit for you. AAII can help you figure out which investments align with your individual needs and preferences.

Investors are encouraged to do their own due diligence and research. In this way, individuals can effectively become managers of their own assets‐without having to rely on others for financial independence. You can count on AAII for timeless articles on financial planning and stock-picking, unbiased research and actionable analysis.

A+ Investor adds to our qualitative teaching with a powerful data suite to help you whittle down investment choices to find stocks, exchange-traded funds (ETFs) or mutual funds that meet your needs.

AAII Disclaimer

We make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown, because past, hypothetical or simulated performance is not necessarily indicative of future results. Before making an investment decision, you should consider your circumstances and whether the information on our content is applicable to your situation. This information was prepared in good faith, and we accept no liability for any errors or omissions. The full disclaimer can be read here.