Gateway Investment Advisers LLC decreased its position in NiSource Inc. (NYSE:NI) by 12.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 13,656 shares of the utilities provider’s stock after selling 2,013 shares during the period. Gateway Investment Advisers LLC’s holdings in NiSource were worth $391,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Cedar Wealth Management LLC purchased a new stake in NiSource in the 4th quarter valued at about $25,000. Flagship Harbor Advisors LLC increased its stake in NiSource by 173.5% in the 4th quarter. Flagship Harbor Advisors LLC now owns 1,031 shares of the utilities provider’s stock valued at $26,000 after buying an additional 654 shares during the last quarter. Pearl River Capital LLC purchased a new stake in NiSource in the 4th quarter valued at about $35,000. Lindbrook Capital LLC purchased a new stake in NiSource in the 4th quarter valued at about $38,000. Finally, Cornerstone Advisors Inc. increased its stake in NiSource by 136.2% in the 3rd quarter. Cornerstone Advisors Inc. now owns 1,734 shares of the utilities provider’s stock valued at $43,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.
Several equities research analysts have commented on the stock. ValuEngine lowered shares of NiSource from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research lowered shares of NiSource from a “hold” rating to a “sell” rating in a research note on Tuesday. Goldman Sachs Group upgraded shares of NiSource from a “neutral” rating to a “buy” rating and increased their price objective for the company from $26.00 to $29.00 in a research note on Monday, April 8th. KeyCorp reiterated a “buy” rating and issued a $28.50 price objective on shares of NiSource in a research note on Tuesday, February 5th. Finally, Guggenheim upgraded shares of NiSource from a “neutral” rating to a “buy” rating in a research note on Monday, January 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. NiSource presently has an average rating of “Hold” and a consensus target price of $27.85.
NiSource (NYSE:NI) last released its earnings results on Wednesday, February 20th. The utilities provider reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.02. NiSource had a negative net margin of 0.99% and a positive return on equity of 9.69%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the firm earned $0.33 EPS. On average, equities analysts expect that NiSource Inc. will post 1.3 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Monday, April 29th. NiSource’s dividend payout ratio is currently 61.54%.
NiSource Company Profile
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 for residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and wholesale and transmission transaction services.
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