Wafra Investment Advisory Group Inc. NY acquired a new stake in shares of NiSource, Inc (NYSE:NI) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 436,631 shares of the utilities provider’s stock, valued at approximately $10,387,000. Wafra Investment Advisory Group Inc. NY owned 0.13% of NiSource as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of NiSource by 70.3% in the first quarter. JPMorgan Chase & Co. now owns 17,428,785 shares of the utilities provider’s stock valued at $414,632,000 after buying an additional 7,194,018 shares during the last quarter. Norges Bank acquired a new position in shares of NiSource during the fourth quarter valued at approximately $69,268,000. Renaissance Technologies LLC increased its position in shares of NiSource by 1,215.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,951,400 shares of the utilities provider’s stock valued at $43,204,000 after buying an additional 1,803,000 shares during the last quarter. Neuberger Berman Group LLC increased its position in shares of NiSource by 218.4% in the first quarter. Neuberger Berman Group LLC now owns 2,319,929 shares of the utilities provider’s stock valued at $55,191,000 after buying an additional 1,591,281 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in shares of NiSource by 281.9% in the first quarter. Prudential Financial Inc. now owns 1,727,593 shares of the utilities provider’s stock valued at $41,099,000 after buying an additional 1,275,260 shares during the last quarter. Institutional investors and hedge funds own 82.40% of the company’s stock.
Shares of NiSource, Inc (NYSE NI) traded up 0.23% during midday trading on Tuesday, reaching $26.23. The company’s stock had a trading volume of 1,463,593 shares. NiSource, Inc has a 52 week low of $21.17 and a 52 week high of $26.94. The company has a 50 day moving average price of $25.19 and a 200-day moving average price of $23.50. The stock has a market capitalization of $8.52 billion, a PE ratio of 23.98 and a beta of 0.34.
NiSource (NYSE:NI) last posted its earnings results on Wednesday, May 3rd. The utilities provider reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.06. NiSource had a net margin of 7.65% and a return on equity of 9.18%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the firm earned $0.62 EPS. On average, equities research analysts expect that NiSource, Inc will post $1.18 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, July 31st will be issued a $0.175 dividend. The ex-dividend date is Thursday, July 27th. This represents a $0.70 annualized dividend and a yield of 2.67%. NiSource’s dividend payout ratio (DPR) is presently 64.22%.
Several brokerages have recently issued reports on NI. Jefferies Group LLC reaffirmed a “hold” rating and issued a $23.00 target price on shares of NiSource in a report on Friday, March 31st. Zelman & Associates cut NiSource from a “buy” rating to a “hold” rating in a report on Tuesday, May 30th. Zacks Investment Research raised NiSource from a “sell” rating to a “hold” rating and set a $26.00 target price on the stock in a report on Friday, March 10th. Ladenburg Thalmann Financial Services began coverage on NiSource in a report on Friday, May 19th. They issued a “buy” rating and a $27.00 target price on the stock. Finally, Barclays PLC reaffirmed 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $25.68.
In related news, CFO Donald Eugene Brown sold 6,906 shares of NiSource stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $25.51, for a total value of $176,172.06. Following the completion of the sale, the chief financial officer now owns 141,168 shares in the company, valued at approximately $3,601,195.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jimmie L. Stanley sold 37,325 shares of NiSource stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 315,471 shares of the company’s stock, valued at approximately $7,606,005.81. 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 in the last quarter. 0.32% of the stock is owned by 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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