Royal Bank of Canada raised its position in shares of NiSource Inc. (NYSE:NI) by 31.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,597,619 shares of the company’s stock after buying an additional 627,154 shares during the period. Royal Bank of Canada owned 0.81% of NiSource worth $61,201,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of NI. Vanguard Group Inc. raised its stake in shares of NiSource by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 28,165,168 shares of the company’s stock worth $549,502,000 after buying an additional 1,580,685 shares during the period. State Street Corp raised its stake in shares of NiSource by 6.7% in the first quarter. State Street Corp now owns 13,981,566 shares of the company’s stock worth $329,410,000 after buying an additional 883,345 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of NiSource by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,925,495 shares of the company’s stock worth $186,725,000 after buying an additional 57,503 shares during the period. BlackRock Fund Advisors raised its stake in shares of NiSource by 4.2% in the first quarter. BlackRock Fund Advisors now owns 7,201,734 shares of the company’s stock worth $169,673,000 after buying an additional 287,930 shares during the period. Finally, Brookfield Asset Management Inc. raised its stake in shares of NiSource by 13.6% in the first quarter. Brookfield Asset Management Inc. now owns 5,284,783 shares of the company’s stock worth $124,509,000 after buying an additional 630,719 shares during the period.
Shares of NiSource Inc. (NYSE:NI) traded up 1.37% during mid-day trading on Thursday, reaching $25.81. The company’s stock had a trading volume of 1,756,389 shares. The firm has a market capitalization of $8.30 billion and a P/E ratio of 41.76. The company has a 50 day moving average of $25.71 and a 200-day moving average of $23.30. NiSource Inc. has a 12 month low of $16.04 and a 12 month high of $26.94.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Friday, July 29th will be given a dividend of $0.165 per share. The ex-dividend date is Wednesday, July 27th. This is a boost from NiSource’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a dividend yield of 2.59%.
Several research analysts have recently commented on NI shares. Argus reiterated a “hold” rating on shares of NiSource in a research report on Monday, July 11th. Evercore ISI started coverage on NiSource in a research report on Monday, April 25th. They issued a “hold” rating and a $22.00 target price for the company. Jefferies Group lowered NiSource from a “hold” rating to an “underperform” rating and set a $22.00 target price for the company. in a research report on Monday. Citigroup Inc. lifted their target price on NiSource from $18.08 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, KeyCorp reiterated an “outperform” rating and issued a $27.00 target price (up previously from $25.50) on shares of NiSource in a research report on Tuesday, July 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $22.61.
NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.
