Nissay Asset Management Corp Japan ADV boosted its holdings in shares of NiSource Inc. (NYSE:NI) by 2.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 48,711 shares of the utilities provider’s stock after acquiring an additional 1,205 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in NiSource were worth $1,117,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in NI. BlackRock Inc. raised its stake in shares of NiSource by 12.1% during the 4th quarter. BlackRock Inc. now owns 41,879,459 shares of the utilities provider’s stock worth $960,717,000 after purchasing an additional 4,522,775 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of NiSource during the 3rd quarter worth about $93,768,000. Reaves W H & Co. Inc. raised its stake in shares of NiSource by 0.5% during the 3rd quarter. Reaves W H & Co. Inc. now owns 3,464,916 shares of the utilities provider’s stock worth $76,228,000 after purchasing an additional 17,230 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of NiSource by 2.1% during the 3rd quarter. California Public Employees Retirement System now owns 3,202,645 shares of the utilities provider’s stock worth $70,458,000 after purchasing an additional 66,914 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. raised its stake in shares of NiSource by 0.4% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 3,022,681 shares of the utilities provider’s stock worth $69,340,000 after purchasing an additional 11,995 shares in the last quarter. Hedge funds and other institutional investors own 92.91% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group downgraded NiSource from a “buy” rating to a “neutral” rating and cut their price target for the stock from $27.00 to $25.00 in a research note on Thursday, January 28th. Credit Suisse Group boosted their target price on NiSource from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Tuesday, November 3rd. Finally, Barclays upgraded NiSource from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $25.00 to $29.00 in a report on Wednesday, November 18th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $25.90.
NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, February 17th. The utilities provider reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. NiSource had a positive return on equity of 11.63% and a negative net margin of 4.96%. During the same quarter last year, the firm earned $0.45 earnings per share. As a group, equities analysts predict that NiSource Inc. will post 1.28 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 19th. Stockholders of record on Tuesday, February 9th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, February 8th. This is a positive change from NiSource’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.93%. NiSource’s payout ratio is 66.67%.
NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates through 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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