Advisory Services Network LLC maintained its position in NiSource Inc. (NYSE:NI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,200 shares of the company’s stock at the end of the second quarter. Advisory Services Network LLC’s holdings in NiSource were worth $111,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. GWM Advisors LLC bought a new stake in shares of NiSource during the second quarter valued at about $205,000. UMB Bank N A MO bought a new stake in shares of NiSource during the second quarter valued at about $206,000. John G Ullman & Associates Inc. bought a new stake in shares of NiSource during the second quarter valued at about $215,000. Advisor Partners LLC bought a new stake in shares of NiSource during the first quarter valued at about $220,000. Finally, Capital Investment Advisors LLC raised its stake in shares of NiSource by 5.9% in the second quarter. Capital Investment Advisors LLC now owns 9,040 shares of the company’s stock valued at $240,000 after buying an additional 500 shares during the period. 82.29% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NiSource Inc. (NYSE:NI) traded up 1.47% on Wednesday, hitting $22.71. 1,617,966 shares of the stock were exchanged. NiSource Inc. has a 52-week low of $18.60 and a 52-week high of $26.94. The company has a 50 day moving average of $24.02 and a 200 day moving average of $24.40. The company has a market cap of $7.32 billion, a price-to-earnings ratio of 27.63 and a beta of 0.25.
NiSource (NYSE:NI) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the business earned $0.18 EPS. Equities research analysts forecast that NiSource Inc. will post $1.07 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Investors of record on Monday, October 31st will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Thursday, October 27th. NiSource’s dividend payout ratio is currently 80.49%.
Several brokerages recently issued reports on NI. Zacks Investment Research lowered shares of NiSource from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $26.00 price target on shares of NiSource in a report on Wednesday, August 3rd. Credit Suisse Group AG set a $25.00 target price on shares of NiSource and gave the stock a “hold” rating in a report on Monday, August 8th. Argus reissued a “hold” rating on shares of NiSource in a report on Monday, July 11th. Finally, KeyCorp set a $27.00 target price on shares of NiSource and gave the stock a “buy” rating in a report on Monday, September 12th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. NiSource has a consensus rating of “Hold” and a consensus target price of $25.09.
In related 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 value of $28,500.00. Following the sale, the vice president now directly owns 37,883 shares of the company’s stock, valued at $899,721.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by corporate insiders.
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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