Ameriprise Financial Inc. boosted its position in shares of NiSource Inc. (NYSE:NI) by 0.0% during the second quarter, Holdings Channel reports. The institutional investor owned 336,139 shares of the company’s stock after buying an additional 4 shares during the period. Ameriprise Financial Inc. owned approximately 0.10% of NiSource worth $8,918,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of NI. Advisor Partners LLC bought a new position in NiSource during the first quarter valued at $220,000. Bessemer Group Inc. boosted its position in NiSource by 385.1% in the first quarter. Bessemer Group Inc. now owns 912,442 shares of the company’s stock valued at $21,498,000 after buying an additional 724,332 shares during the period. Sentry Investment Management LLC boosted its position in NiSource by 1.9% in the first quarter. Sentry Investment Management LLC now owns 25,081 shares of the company’s stock valued at $591,000 after buying an additional 465 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in NiSource by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,925,495 shares of the company’s stock valued at $186,725,000 after buying an additional 57,503 shares during the period. Finally, BlackRock Fund Advisors boosted its position in NiSource by 4.2% in the first quarter. BlackRock Fund Advisors now owns 7,201,734 shares of the company’s stock valued at $169,673,000 after buying an additional 287,930 shares during the period. Hedge funds and other institutional investors own 82.28% of the company’s stock.
NiSource Inc. (NYSE:NI) traded down 3.196% during mid-day trading on Tuesday, reaching $22.865. 2,827,983 shares of the company’s stock traded hands. The company has a 50 day moving average price of $24.35 and a 200-day moving average price of $24.41. NiSource Inc. has a 12 month low of $18.60 and a 12 month high of $26.94. The stock has a market cap of $7.37 billion, a P/E ratio of 27.816 and a beta of 0.25.
NiSource (NYSE:NI) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. NiSource had a net margin of 6.18% and a return on equity of 8.75%. During the same quarter in the prior year, the business posted $0.18 earnings per share. On average, analysts anticipate that NiSource Inc. will post $1.07 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Monday, October 31st will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, October 27th. NiSource’s dividend payout ratio (DPR) is 80.49%.
Several research analysts have recently weighed in on NI shares. Credit Suisse Group AG cut shares of NiSource from a “neutral” rating to an “underperform” rating and set a $25.00 price target for the company. in a report on Friday, August 19th. They noted that the move was a valuation call. Zacks Investment Research raised shares of NiSource from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Friday, September 23rd. KeyCorp set a $27.00 price objective on shares of NiSource and gave the stock a “buy” rating in a research report on Monday, September 12th. Jefferies Group lowered shares of NiSource from a “hold” rating to an “underperform” rating and set a $22.00 price objective on the stock. in a research report on Monday, July 25th. Finally, Argus reissued a “hold” rating on shares of NiSource in a research report on Monday, July 11th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. NiSource has an average rating of “Hold” and a consensus price target of $25.09.
In other news, VP Teresa M. Smith sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $23.75, for a total transaction of $28,500.00. Following the completion of the sale, the vice president now owns 37,883 shares of the company’s stock, valued at approximately $899,721.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.32% of the company’s stock.
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 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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