BlueCrest Capital Management Ltd lessened its stake in NiSource, Inc (NYSE:NI) by 50.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 78,361 shares of the utilities provider’s stock after selling 79,228 shares during the quarter. BlueCrest Capital Management Ltd’s holdings in NiSource were worth $1,987,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Marshall Wace North America L.P. raised its holdings in NiSource by 304.9% in the 2nd quarter. Marshall Wace North America L.P. now owns 142,287 shares of the utilities provider’s stock worth $3,557,000 after purchasing an additional 107,142 shares during the period. State of Wisconsin Investment Board raised its holdings in NiSource by 48.8% in the 2nd quarter. State of Wisconsin Investment Board now owns 205,446 shares of the utilities provider’s stock worth $5,210,000 after purchasing an additional 67,360 shares during the period. Calamos Advisors LLC acquired a new position in NiSource in the 2nd quarter worth about $4,326,000. Schroder Investment Management Group acquired a new position in NiSource in the 2nd quarter worth about $35,129,000. Finally, GAM Holding AG raised its holdings in NiSource by 336.2% in the 2nd quarter. GAM Holding AG now owns 69,166 shares of the utilities provider’s stock worth $1,754,000 after purchasing an additional 53,311 shares during the period. 81.96% of the stock is owned by institutional investors and hedge funds.
In related news, Director Michael E. Jesanis acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average cost of $26.44 per share, for a total transaction of $52,880.00. Following 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 filing with the SEC, which is available through this hyperlink. Insiders own 0.35% of the company’s stock.
A number of equities analysts recently weighed in on the company. Wells Fargo & Company assumed coverage on NiSource in a report on Wednesday, August 9th. They issued an “outperform” rating and a $30.00 price target for the company. Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Monday, October 2nd. KeyCorp reaffirmed a “buy” rating and issued a $29.50 price target on shares of NiSource in a report on Friday, September 1st. Credit Suisse Group raised NiSource from an “underperform” rating to an “outperform” rating and upped their price target for the stock from $25.00 to $29.00 in a report on Monday, August 14th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $23.00 price target on shares of NiSource in a report on Friday, July 14th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $26.72.
NiSource, Inc (NI) traded up 0.72% during midday trading on Thursday, reaching $26.61. The company’s stock had a trading volume of 164,446 shares. The company’s 50-day moving average is $26.41 and its 200 day moving average is $25.56. The firm has a market capitalization of $8.67 billion, a P/E ratio of 30.87 and a beta of 0.36. NiSource, Inc has a 52 week low of $21.17 and a 52 week high of $27.29.
NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.10. NiSource had a net margin of 5.96% and a return on equity of 9.17%. The company had revenue of $990.70 million during the quarter, compared to the consensus estimate of $934.95 million. During the same period last year, the firm earned $0.09 EPS. Analysts expect that NiSource, Inc will post $1.19 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Tuesday, October 31st will be given 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 2.65%. NiSource’s payout ratio is 81.40%.
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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