Skandinaviska Enskilda Banken AB publ increased its position in shares of NiSource, Inc (NYSE:NI) by 33.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,400 shares of the utilities provider’s stock after buying an additional 3,100 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in NiSource were worth $295,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in NI. Advisory Services Network LLC acquired a new position in shares of NiSource during the first quarter valued at approximately $108,000. First Financial Corp IN acquired a new position in shares of NiSource during the first quarter valued at approximately $124,000. TCI Wealth Advisors Inc. increased its position 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 valued at $144,000 after buying an additional 27 shares during the last quarter. LSV Asset Management acquired a new position in shares of NiSource during the first quarter valued at approximately $159,000. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of NiSource during the first quarter valued at approximately $183,000. 82.87% of the stock is currently owned by institutional investors.
Shares of NiSource, Inc (NYSE:NI) traded down 0.15% during mid-day trading on Tuesday, hitting $26.32. 1,891,805 shares of the company’s stock traded hands. The firm has a 50-day moving average of $25.84 and a 200 day moving average of $24.35. NiSource, Inc has a 52 week low of $21.17 and a 52 week high of $26.69. The company has a market cap of $8.57 billion, a PE ratio of 24.06 and a beta of 0.37.
NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 EPS for the quarter, hitting 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 net margin of 5.96% and a return on equity of 9.17%. During the same quarter in the previous year, the business earned $0.09 earnings per share. Equities research analysts predict that NiSource, Inc will post $1.19 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Tuesday, October 31st will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.66%. NiSource’s dividend payout ratio (DPR) is presently 81.40%.
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NI has been the topic of several recent analyst reports. Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Thursday, June 1st. Zelman & Associates downgraded NiSource from a “buy” rating to a “hold” rating in a report on Tuesday, May 30th. Ladenburg Thalmann Financial Services initiated coverage on NiSource in a report on Friday, May 19th. They issued a “buy” rating and a $27.00 target price on the stock. Barclays PLC reissued an “equal weight” rating and issued a $26.00 target price (up from $25.00) on shares of NiSource in a report on Thursday, June 1st. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $23.00 target price on shares of NiSource in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $25.38.
In other news, COO Jimmie L. Stanley sold 37,325 shares of NiSource stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $24.11, for a total transaction of $899,905.75. Following the transaction, the chief operating officer now owns 315,471 shares in the company, valued at $7,606,005.81. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Donald Eugene Brown sold 6,906 shares of NiSource stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $25.51, for a total transaction of $176,172.06. Following the transaction, the chief financial officer now owns 141,168 shares in the company, valued at approximately $3,601,195.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,981 shares of company stock worth $2,191,779. 0.32% of the stock is owned by company insiders.
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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