State of Tennessee Treasury Department increased its position in shares of NiSource, Inc (NYSE:NI) by 192.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 258,583 shares of the utilities provider’s stock after purchasing an additional 170,247 shares during the quarter. State of Tennessee Treasury Department owned 0.08% of NiSource worth $6,558,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in 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 last quarter. JPMorgan Chase & Co. lifted its stake in 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. Neuberger Berman Group LLC lifted its stake in NiSource by 59.8% in the second quarter. Neuberger Berman Group LLC now owns 3,707,119 shares of the utilities provider’s stock valued at $94,013,000 after buying an additional 1,387,190 shares during the last quarter. Pictet Asset Management Ltd. lifted its stake in NiSource by 25.4% in the second quarter. Pictet Asset Management Ltd. now owns 3,264,081 shares of the utilities provider’s stock valued at $85,095,000 after buying an additional 661,840 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in 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 last quarter. Hedge funds and other institutional investors own 81.96% of the company’s stock.
NiSource, Inc (NYSE NI) opened at 27.11 on Friday. The firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of 31.45 and a beta of 0.39. The company’s 50-day moving average price is $26.62 and its 200-day moving average price is $25.12. NiSource, Inc has a 12-month low of $21.17 and a 12-month high of $27.25.
NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. NiSource had a return on equity of 9.17% and a net margin of 5.96%. The business had revenue of $990.70 million for the quarter, compared to analyst estimates of $934.95 million. During the same quarter in the prior year, the firm posted $0.09 earnings per share. Equities analysts expect that NiSource, Inc will post $1.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Tuesday, October 31st will be paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Monday, October 30th. NiSource’s dividend payout ratio (DPR) is presently 81.40%.
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In other news, Director Michael E. Jesanis purchased 2,000 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were acquired at an average price of $26.44 per share, with a total value of $52,880.00. Following the completion of the purchase, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.35% of the company’s stock.
A number of research firms have issued reports on NI. KeyCorp reiterated a “buy” rating and issued 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 price target for the company from $25.00 to $29.00 in a report on Monday, August 14th. Wells Fargo & Company started coverage on NiSource in a report on Wednesday, August 9th. They set an “outperform” rating and a $30.00 price target on the stock. Barclays PLC reissued an “equal weight” rating and set a $26.00 price target (up from $25.00) on shares of NiSource in a report on Thursday, June 1st. Finally, Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a report on Thursday, June 1st. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $26.61.
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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