HighTower Advisors LLC raised its position in shares of NiSource, Inc (NYSE:NI) by 0.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,685 shares of the utilities provider’s stock after buying an additional 129 shares during the period. HighTower Advisors LLC’s holdings in NiSource were worth $661,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of NI. Highbridge Capital Management LLC raised its position in NiSource by 796.4% in the fourth quarter. Highbridge Capital Management LLC now owns 1,241,052 shares of the utilities provider’s stock valued at $27,477,000 after buying an additional 1,102,597 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in NiSource during the first quarter valued at approximately $453,000. Canada Pension Plan Investment Board raised its position in NiSource by 93.3% in the first quarter. Canada Pension Plan Investment Board now owns 921,206 shares of the utilities provider’s stock valued at $21,915,000 after buying an additional 444,700 shares during the last quarter. Commerce Bank raised its position in NiSource by 8.3% in the first quarter. Commerce Bank now owns 10,904 shares of the utilities provider’s stock valued at $259,000 after buying an additional 838 shares during the last quarter. Finally, Arizona State Retirement System raised its position in NiSource by 0.4% in the first quarter. Arizona State Retirement System now owns 80,090 shares of the utilities provider’s stock valued at $1,905,000 after buying an additional 300 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.
NiSource, Inc (NYSE:NI) traded down 0.38% during mid-day trading on Friday, hitting $26.40. The company had a trading volume of 1,360,123 shares. The company has a market capitalization of $8.60 billion, a P/E ratio of 24.13 and a beta of 0.37. The company has a 50-day moving average price of $25.79 and a 200 day moving average price of $24.30. NiSource, Inc has a 52-week low of $21.17 and a 52-week high of $26.56.
NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. The company had revenue of $990.70 million for the quarter, compared to analyst estimates of $934.95 million. NiSource had a return on equity of 9.17% and a net margin of 5.96%. During the same quarter last year, the company earned $0.09 EPS. On average, analysts forecast that NiSource, Inc will post $1.19 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, July 31st will be given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Thursday, July 27th. NiSource’s dividend payout ratio is currently 81.40%.
Several research firms have commented on NI. Zacks Investment Research lowered shares of NiSource from a “buy” rating to a “hold” rating in a research note on Monday, June 12th. Barclays PLC reiterated an “equal weight” rating and set a $26.00 target price (up from $25.00) on shares of NiSource in a research report on Thursday, June 1st. Ladenburg Thalmann Financial Services assumed coverage on NiSource in a research report on Friday, May 19th. They set a “buy” rating and a $27.00 target price for the company. Zelman & Associates downgraded NiSource from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $23.00 target price on shares of NiSource in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. NiSource has an average rating of “Hold” and an average target price of $25.38.
In other NiSource news, CFO Donald Eugene Brown sold 6,906 shares of the stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $25.51, for a total value of $176,172.06. Following the sale, the chief financial officer now owns 141,168 shares of the company’s stock, valued at approximately $3,601,195.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Violet Sistovaris sold 38,550 shares of the stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $24.25, for a total value of $934,837.50. Following the completion of the sale, the executive vice president now directly owns 185,186 shares in the company, valued at approximately $4,490,760.50. The disclosure for this sale can be found here. Insiders sold a total of 89,981 shares of company stock worth $2,191,779 in the last ninety days. 0.32% of the stock is owned by corporate insiders.
NiSource Company Profile
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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