IFM Investors Pty Ltd purchased a new position in shares of NiSource, Inc (NYSE:NI) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,060 shares of the utilities provider’s stock, valued at approximately $280,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. ING Groep NV increased its holdings in NiSource by 0.4% in the 2nd quarter. ING Groep NV now owns 16,563 shares of the utilities provider’s stock valued at $420,000 after purchasing an additional 59 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in NiSource by 0.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 11,636 shares of the utilities provider’s stock valued at $295,000 after purchasing an additional 68 shares during the last quarter. Level Four Advisory Services LLC increased its holdings in NiSource by 0.5% in the 1st quarter. Level Four Advisory Services LLC now owns 16,299 shares of the utilities provider’s stock valued at $388,000 after purchasing an additional 76 shares during the last quarter. CIBC Asset Management Inc increased its holdings in NiSource by 0.4% in the 2nd quarter. CIBC Asset Management Inc now owns 30,131 shares of the utilities provider’s stock valued at $764,000 after purchasing an additional 124 shares during the last quarter. Finally, HighTower Advisors LLC boosted its position in NiSource by 0.5% in the 1st quarter. HighTower Advisors LLC now owns 27,685 shares of the utilities provider’s stock valued at $661,000 after buying an additional 129 shares during the period. Institutional investors and hedge funds own 81.96% of the company’s stock.
NiSource, Inc (NI) opened at 25.69 on Friday. NiSource, Inc has a 1-year low of $21.17 and a 1-year high of $27.29. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of 29.80 and a beta of 0.39. The firm has a 50-day moving average of $26.75 and a 200-day moving average of $25.30.
NiSource (NYSE:NI) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. The company had revenue of $990.70 million during the quarter, compared to analysts’ expectations of $934.95 million. NiSource had a return on equity of 9.17% and a net margin of 5.96%. During the same period in the prior year, the business posted $0.09 EPS. On average, analysts expect that NiSource, Inc will post $1.19 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Tuesday, October 31st will be paid a dividend of $0.175 per share. The ex-dividend date is Monday, October 30th. This represents a $0.70 dividend on an annualized basis and a yield of 2.72%. NiSource’s payout ratio is 81.40%.
Several equities analysts have commented on NI shares. Zacks Investment Research raised shares of NiSource from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Thursday, June 1st. Zelman & Associates cut shares of NiSource from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. Jefferies Group LLC reaffirmed a “hold” rating and set a $23.00 price objective on shares of NiSource in a research report on Friday, July 14th. Barclays PLC reaffirmed an “equal weight” rating and set a $26.00 price objective (up from $25.00) on shares of NiSource in a research report on Thursday, June 1st. Finally, Credit Suisse Group raised shares of NiSource from an “underperform” rating to an “outperform” rating and lifted their price objective for the stock from $25.00 to $29.00 in a research report on Monday, August 14th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $26.72.
In other NiSource news, Director Michael E. Jesanis bought 2,000 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was acquired at an average cost of $26.44 per share, with a total value of $52,880.00. Following the purchase, the director now owns 34,195 shares in the company, valued at $904,115.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is currently owned by corporate insiders.
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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 Company’s 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.
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