HighTower Advisors LLC Boosts Stake in NiSource, Inc (NYSE:NI)

HighTower Advisors LLC raised its position in NiSource, Inc (NYSE:NI) by 0.5% during the first quarter, according to its most recent Form 13F filing 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.

Other institutional investors have also modified their holdings of the company. Advisory Services Network LLC bought a new stake in shares of NiSource during the first quarter worth $108,000. First Financial Corp IN bought a new stake in shares of NiSource during the first quarter worth $124,000. TCI Wealth Advisors Inc. increased its stake in shares of NiSource by 0.4% in the first quarter. TCI Wealth Advisors Inc. now owns 6,054 shares of the utilities provider’s stock worth $144,000 after buying an additional 27 shares in the last quarter. LSV Asset Management bought a new stake in shares of NiSource during the first quarter worth $159,000. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of NiSource during the first quarter worth $183,000. Hedge funds and other institutional investors own 82.38% of the company’s stock.

NiSource, Inc (NYSE NI) opened at 25.17 on Wednesday. NiSource, Inc has a 12 month low of $21.17 and a 12 month high of $26.56. The firm has a 50-day moving average price of $25.56 and a 200-day moving average price of $23.72. The stock has a market cap of $8.17 billion, a price-to-earnings ratio of 23.01 and a beta of 0.37.

NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, May 3rd. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.06. NiSource had a return on equity of 9.18% and a net margin of 7.65%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period last year, the business posted $0.62 earnings per share. Equities research analysts expect that NiSource, Inc will post $1.18 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, July 31st will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Thursday, July 27th. NiSource’s dividend payout ratio is currently 64.22%.

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Several research analysts have commented on NI shares. Jefferies Group LLC reissued a “hold” rating and set a $23.00 price target on shares of NiSource in a research note on Friday, March 31st. Zelman & Associates cut shares of NiSource from a “buy” rating to a “hold” rating in a report on Tuesday, May 30th. Zacks Investment Research cut shares of NiSource from a “buy” rating to a “hold” rating in a report on Monday. Ladenburg Thalmann Financial Services began coverage on shares of NiSource in a report on Friday, May 19th. They issued a “buy” rating and a $27.00 price target on the stock. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $26.00 price target (up previously from $25.00) on shares of NiSource in a report on Thursday, June 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $25.89.

In other NiSource news, CFO Donald Eugene Brown sold 6,906 shares of the firm’s stock in a transaction that occurred on 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 directly owns 141,168 shares of the company’s stock, valued at $3,601,195.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jimmie L. Stanley sold 37,325 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $24.11, for a total value of $899,905.75. Following the completion of the sale, the chief operating officer now directly owns 315,471 shares in the company, valued at $7,606,005.81. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,981 shares of company stock valued at $2,191,779. 0.32% of the stock is owned by company 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.

Institutional Ownership by Quarter for NiSource (NYSE:NI)

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