NiSource, Inc (NYSE:NI) Director Michael E. Jesanis bought 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average price of $26.44 per share, with a total value of $52,880.00. Following the completion of the transaction, the director now directly owns 34,195 shares of the company’s stock, valued at approximately $904,115.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of NiSource, Inc (NI) traded up 0.056% during trading on Thursday, hitting $26.975. 341,881 shares of the stock traded hands. The stock has a market cap of $8.79 billion, a PE ratio of 31.294 and a beta of 0.37. The firm’s 50-day moving average price is $25.95 and its 200-day moving average price is $24.61. NiSource, Inc has a 12 month low of $21.17 and a 12 month high of $27.02.
NiSource (NYSE:NI) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.10. The business had revenue of $990.70 million during the quarter, compared to analysts’ expectations of $934.95 million. NiSource had a net margin of 5.96% and a return on equity of 9.17%. During the same period in the prior year, the business earned $0.09 earnings per share. Analysts anticipate that NiSource, Inc will post $1.19 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Tuesday, October 31st will be given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Monday, October 30th. NiSource’s dividend payout ratio (DPR) is 81.40%.
Large investors have recently modified their holdings of the stock. Retirement Systems of Alabama boosted its stake in NiSource by 2.2% in the first quarter. Retirement Systems of Alabama now owns 156,347 shares of the utilities provider’s stock valued at $3,719,000 after buying an additional 3,377 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in NiSource during the first quarter valued at about $453,000. Bollard Group LLC boosted its stake in NiSource by 10.8% in the first quarter. Bollard Group LLC now owns 71,955 shares of the utilities provider’s stock valued at $1,712,000 after buying an additional 7,001 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in NiSource by 14.9% in the first quarter. Nisa Investment Advisors LLC now owns 102,850 shares of the utilities provider’s stock valued at $2,447,000 after buying an additional 13,320 shares during the last quarter. Finally, DnB Asset Management AS boosted its stake in NiSource by 25.2% in the first quarter. DnB Asset Management AS now owns 35,800 shares of the utilities provider’s stock valued at $852,000 after buying an additional 7,200 shares during the last quarter. Institutional investors and hedge funds own 82.21% of the company’s stock.
Several research firms have issued reports on NI. Wells Fargo & Company began coverage on shares of NiSource in a research report on Wednesday, August 9th. They set an “outperform” rating and a $30.00 price target for the company. Zacks Investment Research upgraded shares of NiSource from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Friday, July 14th. Credit Suisse Group upgraded shares of NiSource from an “underperform” rating to an “outperform” rating and upped their price target for the company from $25.00 to $29.00 in a research report on Monday. Jefferies Group LLC restated a “hold” rating and set a $23.00 price target on shares of NiSource in a research report on Friday, July 14th. Finally, Barclays PLC restated an “equal weight” rating and set a $26.00 price target (up from $25.00) on shares of NiSource in a research report on Thursday, June 1st. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $26.33.
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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