IFM Investors Pty Ltd Grows Holdings in NiSource Inc. (NI)

IFM Investors Pty Ltd raised its position in NiSource Inc. (NYSE:NI) by 16.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,905 shares of the utilities provider’s stock after acquiring an additional 3,375 shares during the quarter. IFM Investors Pty Ltd’s holdings in NiSource were worth $596,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NI. Piedmont Investment Advisors LLC purchased a new position in shares of NiSource in the 2nd quarter valued at about $104,000. Tower Research Capital LLC TRC purchased a new position in shares of NiSource in the 2nd quarter valued at about $105,000. Advisors Asset Management Inc. purchased a new position in shares of NiSource in the 2nd quarter valued at about $110,000. Parallel Advisors LLC boosted its stake in shares of NiSource by 286.6% in the 2nd quarter. Parallel Advisors LLC now owns 4,701 shares of the utilities provider’s stock valued at $123,000 after buying an additional 3,485 shares during the period. Finally, First Hawaiian Bank purchased a new position in shares of NiSource in the 3rd quarter valued at about $162,000. 91.04% of the stock is owned by institutional investors.

Several equities analysts have recently issued reports on NI shares. KeyCorp lifted their price objective on NiSource from $26.00 to $27.00 and gave the company a “$26.15” rating in a research note on Thursday, July 19th. Zacks Investment Research upgraded NiSource from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Wednesday, October 3rd. Goldman Sachs Group cut NiSource from a “conviction-buy” rating to a “buy” rating and set a $29.00 price objective for the company. in a research note on Friday, September 21st. Wolfe Research set a $27.00 price objective on NiSource and gave the company a “buy” rating in a research note on Monday, September 17th. Finally, Bank of America reiterated a “buy” rating and issued a $28.00 price objective on shares of NiSource in a research note on Monday, September 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $27.00.

In related news, EVP Carrie J. Hightman sold 27,000 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $26.75, for a total transaction of $722,250.00. Following the completion of the sale, the executive vice president now owns 325,066 shares in the company, valued at $8,695,515.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Donald Eugene Brown sold 2,400 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $26.50, for a total value of $63,600.00. Following the sale, the chief financial officer now owns 49,167 shares of the company’s stock, valued at approximately $1,302,925.50. The disclosure for this sale can be found here. 0.37% of the stock is owned by insiders.

NI stock opened at $25.36 on Thursday. The company has a market cap of $9.24 billion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 3.69 and a beta of 0.17. NiSource Inc. has a fifty-two week low of $22.44 and a fifty-two week high of $28.11. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.51 and a quick ratio of 0.38.

NiSource (NYSE:NI) last posted its earnings results on Wednesday, August 1st. The utilities provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $999.39 million. NiSource had a return on equity of 9.19% and a net margin of 5.20%. During the same quarter in the previous year, the firm earned $0.10 EPS. As a group, sell-side analysts anticipate that NiSource Inc. will post 1.27 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Wednesday, October 31st will be paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 3.08%. The ex-dividend date is Tuesday, October 30th. NiSource’s payout ratio is 64.46%.

About NiSource

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation to residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and offers wholesale and transmission transaction services.

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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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