Icon Advisers Inc. Co. decreased its stake in NiSource, Inc (NYSE:NI) by 46.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 142,400 shares of the utilities provider’s stock after selling 125,200 shares during the period. Icon Advisers Inc. Co.’s holdings in NiSource were worth $3,611,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NI. BlackRock Inc. grew its stake in NiSource by 2,428.6% during the first quarter. BlackRock Inc. now owns 23,705,566 shares of the utilities provider’s stock worth $563,954,000 after purchasing an additional 22,768,084 shares during the period. JPMorgan Chase & Co. grew its stake in NiSource by 70.3% during the first quarter. JPMorgan Chase & Co. now owns 17,428,785 shares of the utilities provider’s stock worth $414,632,000 after purchasing an additional 7,194,018 shares during the period. Alliancebernstein L.P. grew its stake in NiSource by 32.8% during the second quarter. Alliancebernstein L.P. now owns 10,831,595 shares of the utilities provider’s stock worth $274,689,000 after purchasing an additional 2,675,042 shares during the period. Neuberger Berman Group LLC grew its stake in NiSource by 218.4% during the first quarter. Neuberger Berman Group LLC now owns 2,319,929 shares of the utilities provider’s stock worth $55,191,000 after purchasing an additional 1,591,281 shares during the period. Finally, Schroder Investment Management Group acquired a new stake in NiSource during the second quarter worth approximately $35,129,000. 81.96% of the stock is owned by institutional investors and hedge funds.
In other news, Director Michael E. Jesanis bought 2,000 shares of NiSource stock in a transaction on Monday, August 14th. The shares were purchased at an average price of $26.44 per share, for a total transaction of $52,880.00. Following the acquisition, the director now owns 34,195 shares of the company’s stock, valued at $904,115.80. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.
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Shares of NiSource, Inc (NYSE:NI) opened at 26.93 on Friday. The firm has a market cap of $8.78 billion, a PE ratio of 31.24 and a beta of 0.39. The firm has a 50-day moving average price of $26.70 and a 200-day moving average price of $25.22. NiSource, Inc has a 52 week low of $21.17 and a 52 week high of $27.29.
NiSource (NYSE:NI) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. NiSource had a return on equity of 9.17% and a net margin of 5.96%. The firm had revenue of $990.70 million for the quarter, compared to the consensus estimate of $934.95 million. During the same quarter in the prior year, the business earned $0.09 EPS. On average, equities research analysts predict that NiSource, Inc will post $1.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Tuesday, October 31st will be issued a dividend of $0.175 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.60%. NiSource’s dividend payout ratio (DPR) is 81.40%.
Several equities research analysts recently commented on the company. KeyCorp reaffirmed a “buy” rating and set a $29.50 target price on shares of NiSource in a research note on Friday, September 1st. Credit Suisse Group raised NiSource from an “underperform” rating to an “outperform” rating and raised their target price for the stock from $25.00 to $29.00 in a research note on Monday, August 14th. Wells Fargo & Company assumed coverage on NiSource in a research note on Wednesday, August 9th. They set an “outperform” rating and a $30.00 target price for the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $23.00 target price on shares of NiSource in a research note on Friday, July 14th. Finally, Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Friday, July 14th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $26.61.
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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