State Street Corp cut its position in shares of NiSource, Inc (NYSE:NI) by 1.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,236,541 shares of the utilities provider’s stock after selling 310,227 shares during the period. State Street Corp owned about 0.05% of NiSource worth $386,270,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Cadence Capital Management LLC bought a new stake in NiSource during the fourth quarter valued at about $472,000. Comerica Bank raised its stake in NiSource by 2.3% in the fourth quarter. Comerica Bank now owns 162,397 shares of the utilities provider’s stock valued at $3,566,000 after buying an additional 3,590 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in NiSource by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,501 shares of the utilities provider’s stock valued at $410,000 after buying an additional 100 shares during the last quarter. Private Advisor Group LLC bought a new stake in NiSource during the fourth quarter valued at about $215,000. Finally, FMR LLC raised its stake in NiSource by 10.6% in the fourth quarter. FMR LLC now owns 585,011 shares of the utilities provider’s stock valued at $12,951,000 after buying an additional 56,196 shares during the last quarter. Institutional investors own 82.39% of the company’s stock.
NiSource, Inc (NYSE:NI) traded up 0.04% during trading on Friday, hitting $26.06. The stock had a trading volume of 4,571,688 shares. The firm has a market capitalization of $8.46 billion, a PE ratio of 23.82 and a beta of 0.34. NiSource, Inc has a 1-year low of $21.17 and a 1-year high of $26.94. The firm has a 50 day moving average price of $25.09 and a 200-day moving average price of $23.42.
NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.51 billion. NiSource had a net margin of 7.65% and a return on equity of 9.18%. During the same quarter in the previous year, the firm posted $0.62 EPS. On average, equities research analysts expect that NiSource, Inc will post $1.18 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, July 31st will be paid a $0.175 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.70 dividend on an annualized basis and a yield of 2.69%. NiSource’s dividend payout ratio is 64.22%.
NI has been the topic of several research analyst reports. Barclays PLC restated an “equal weight” rating and issued a $26.00 price objective (up previously from $25.00) on shares of NiSource in a research note on Thursday, June 1st. Zacks Investment Research upgraded NiSource from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Thursday, June 1st. Zelman & Associates lowered NiSource from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. Ladenburg Thalmann Financial Services initiated coverage on NiSource in a research note on Friday, May 19th. They issued a “buy” rating and a $27.00 price objective on the stock. Finally, Jefferies Group LLC restated a “hold” rating and issued a $23.00 price objective on shares of NiSource in a research note on Friday, March 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $25.68.
In other news, EVP Pablo Vegas sold 7,200 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $25.12, for a total transaction of $180,864.00. Following the completion of the transaction, the executive vice president now directly owns 94,885 shares in the company, valued at approximately $2,383,511.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Violet Sistovaris sold 38,550 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $24.25, for a total transaction of $934,837.50. Following the transaction, the executive vice president now owns 185,186 shares of the company’s stock, valued at $4,490,760.50. The disclosure for this sale can be found here. Insiders sold a total of 89,981 shares of company stock valued at $2,191,779 over the last quarter. 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.
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