Pioneer Investment Management Inc. acquired a new stake in NiSource, Inc (NYSE:NI) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 1,026,846 shares of the utilities provider’s stock, valued at approximately $26,041,000.
A number of other large investors have also made changes to their positions in NI. BlackRock Inc. increased its stake in shares of NiSource by 2,428.6% in the first quarter. BlackRock Inc. now owns 23,705,566 shares of the utilities provider’s stock valued at $563,954,000 after buying an additional 22,768,084 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of NiSource by 70.3% in the first quarter. JPMorgan Chase & Co. now owns 17,428,785 shares of the utilities provider’s stock valued at $414,632,000 after buying an additional 7,194,018 shares in the last quarter. Pictet Asset Management Ltd. increased its stake in shares of NiSource by 25.4% in the second quarter. Pictet Asset Management Ltd. now owns 3,264,081 shares of the utilities provider’s stock valued at $85,095,000 after buying an additional 661,840 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of NiSource by 8.4% in the first quarter. Geode Capital Management LLC now owns 3,161,227 shares of the utilities provider’s stock valued at $75,093,000 after buying an additional 244,793 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of NiSource by 47.9% in the first quarter. Morgan Stanley now owns 2,565,645 shares of the utilities provider’s stock valued at $61,037,000 after buying an additional 831,460 shares in the last quarter. 82.87% of the stock is owned by hedge funds and other institutional investors.
NiSource, Inc (NI) opened at 26.38 on Thursday. NiSource, Inc has a 12 month low of $21.17 and a 12 month high of $26.69. The firm has a market capitalization of $8.59 billion, a price-to-earnings ratio of 24.11 and a beta of 0.37. The firm has a 50-day moving average price of $25.86 and a 200 day moving average price of $24.45.
NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. The company had revenue of $990.70 million for the quarter, compared to analyst estimates of $934.95 million. NiSource had a return on equity of 9.17% and a net margin of 5.96%. During the same period in the previous year, the company posted $0.09 earnings per share. On average, equities analysts forecast that NiSource, Inc will post $1.19 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Tuesday, October 31st will be issued a $0.175 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.65%. NiSource’s dividend payout ratio (DPR) is 81.40%.
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Several equities research analysts recently issued reports on NI shares. Zacks Investment Research downgraded NiSource from a “buy” rating to a “hold” rating in a research note on Wednesday, May 31st. Jefferies Group LLC reissued a “hold” rating and issued a $23.00 price objective on shares of NiSource in a research note on Friday, July 14th. Zelman & Associates downgraded NiSource from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. Ladenburg Thalmann Financial Services started coverage on NiSource in a research note on Friday, May 19th. They issued a “buy” rating and a $27.00 price objective for the company. Finally, Barclays PLC reissued an “equal weight” rating and issued a $26.00 price objective (up from $25.00) on shares of NiSource in a research note on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. NiSource presently has an average rating of “Hold” and a consensus target price of $25.89.
In other news, EVP Pablo Vegas sold 7,200 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $25.12, for a total value of $180,864.00. Following the sale, the executive vice president now directly owns 94,885 shares in the company, valued at $2,383,511.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Donald Eugene Brown sold 6,906 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $25.51, for a total value of $176,172.06. Following the completion of the sale, the chief financial officer now owns 141,168 shares in the company, valued at $3,601,195.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,656 shares of company stock worth $1,291,874. Corporate 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 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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