Calamos Advisors LLC boosted its holdings in shares of NiSource, Inc (NYSE:NI) by 3.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 177,090 shares of the utilities provider’s stock after buying an additional 6,491 shares during the quarter. Calamos Advisors LLC owned about 0.05% of NiSource worth $4,532,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of NI. Alliancebernstein L.P. increased its position in NiSource by 32.8% during the second quarter. Alliancebernstein L.P. now owns 10,831,595 shares of the utilities provider’s stock worth $274,689,000 after buying an additional 2,675,042 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in NiSource during the second quarter valued at about $63,874,000. Ameriprise Financial Inc. boosted its holdings in NiSource by 349.2% during the second quarter. Ameriprise Financial Inc. now owns 1,981,096 shares of the utilities provider’s stock valued at $50,247,000 after acquiring an additional 1,540,050 shares during the period. Neuberger Berman Group LLC boosted its holdings in NiSource by 59.8% during 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 acquiring an additional 1,387,190 shares during the period. Finally, Schroder Investment Management Group bought a new stake in NiSource during the second quarter valued at about $35,129,000. 81.81% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Michael E. Jesanis bought 2,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was acquired at an average cost of $26.44 per share, for a total transaction of $52,880.00. Following the completion of the transaction, the director now directly owns 34,195 shares in the company, valued at approximately $904,115.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.35% of the company’s stock.
Several research firms recently weighed in on NI. Zacks Investment Research cut shares of NiSource from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. Jefferies Group LLC restated a “hold” rating and set a $23.00 price target on shares of NiSource in a research note on Friday, July 14th. Wells Fargo & Company began coverage on shares of NiSource in a report on Wednesday, August 9th. They set an “outperform” rating and a $30.00 price objective for the company. Credit Suisse Group raised shares of NiSource from an “underperform” rating to an “outperform” rating and raised their price objective for the stock from $25.00 to $29.00 in a report on Monday, August 14th. Finally, KeyCorp reaffirmed a “buy” rating and set a $29.50 price objective on shares of NiSource in a report on Friday, September 1st. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $26.75.
NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. NiSource had a net margin of 5.96% and a return on equity of 9.17%. During the same period last year, the company earned $0.06 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.175 per share. The ex-dividend date is Monday, October 30th. This represents a $0.70 annualized dividend and a yield of 2.65%. NiSource’s payout ratio is presently 81.40%.
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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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