Capstone Asset Management Co. lowered its stake in NiSource, Inc (NYSE:NI) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,048 shares of the utilities provider’s stock after selling 497 shares during the period. Capstone Asset Management Co.’s holdings in NiSource were worth $1,117,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of NiSource by 2,428.6% in the first quarter. BlackRock Inc. now owns 23,705,566 shares of the utilities provider’s stock valued at $563,954,000 after buying an additional 22,768,084 shares during the period. JPMorgan Chase & Co. increased its stake 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 period. Geode Capital Management LLC increased its stake in shares of NiSource by 8.4% in the first quarter. Geode Capital Management LLC now owns 3,161,227 shares of the utilities provider’s stock valued at $75,093,000 after buying an additional 244,793 shares during the period. Brookfield Asset Management Inc. increased its stake in shares of NiSource by 7.0% in the fourth quarter. Brookfield Asset Management Inc. now owns 2,575,579 shares of the utilities provider’s stock valued at $57,023,000 after buying an additional 167,400 shares during the period. Finally, Morgan Stanley increased its stake in shares of NiSource by 47.9% in the first quarter. Morgan Stanley now owns 2,565,645 shares of the utilities provider’s stock valued at $61,037,000 after buying an additional 831,460 shares during the period. Hedge funds and other institutional investors own 82.37% of the company’s stock.
NiSource, Inc (NI) opened at 25.98 on Friday. The company has a market capitalization of $8.43 billion, a PE ratio of 23.75 and a beta of 0.37. The stock’s 50 day moving average is $25.78 and its 200 day moving average is $24.06. NiSource, Inc has a one year low of $21.17 and a one year high of $26.56.
NiSource (NYSE:NI) last announced its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate 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 period in the prior year, the company posted $0.62 EPS. On average, analysts anticipate that NiSource, Inc will post $1.18 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, July 31st will be paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Thursday, July 27th. NiSource’s payout ratio is currently 64.22%.
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Several equities research analysts have issued reports on NI shares. Zacks Investment Research downgraded shares of NiSource from a “buy” rating to a “hold” rating in a research report on Wednesday, May 31st. Jefferies Group LLC restated a “hold” rating and set a $23.00 price objective on shares of NiSource in a research report on Friday, March 31st. Zelman & Associates downgraded shares of NiSource from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. Ladenburg Thalmann Financial Services started coverage on shares of NiSource in a research report on Friday, May 19th. They set a “buy” rating and a $27.00 price objective for the company. Finally, Barclays PLC restated an “equal weight” rating and set a $26.00 price objective (up from $25.00) on shares of NiSource in a research report on Thursday, June 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $25.60.
In related news, EVP Pablo Vegas sold 7,200 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 94,885 shares in the company, valued at approximately $2,383,511.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Donald Eugene Brown sold 6,906 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $25.51, for a total transaction of $176,172.06. Following the sale, the chief financial officer now owns 141,168 shares in the company, valued at $3,601,195.68. The disclosure for this sale can be found here. Insiders have sold a total of 89,981 shares of company stock worth $2,191,779 over the last 90 days. 0.32% of the stock is currently owned by corporate 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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