Quantitative Systematic Strategies LLC Purchases Shares of 48,730 NiSource Inc. (NYSE:NI)

Quantitative Systematic Strategies LLC purchased a new stake in NiSource Inc. (NYSE:NI) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 48,730 shares of the utilities provider’s stock, valued at approximately $1,194,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Krane Funds Advisors LLC bought a new position in shares of NiSource in the first quarter valued at $25,000. Eagle Bay Advisors LLC bought a new position in shares of NiSource in the second quarter valued at $30,000. Bbva USA bought a new position in shares of NiSource in the second quarter valued at $31,000. Tobam bought a new position in shares of NiSource in the first quarter valued at $38,000. Finally, Logan Capital Management Inc. bought a new position in shares of NiSource in the first quarter valued at $38,000. 93.62% of the stock is currently owned by institutional investors.

Several equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of NiSource from a “sell” rating to a “hold” rating and set a $27.00 price objective on the stock in a research report on Tuesday, July 27th. Barclays boosted their price target on shares of NiSource from $26.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, May 25th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $26.33.

Shares of NI stock traded down $0.02 on Monday, hitting $24.01. The company’s stock had a trading volume of 59,567 shares, compared to its average volume of 3,604,351. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.81 and a quick ratio of 0.62. NiSource Inc. has a fifty-two week low of $21.09 and a fifty-two week high of $26.60. The firm’s fifty day moving average price is $25.10 and its 200-day moving average price is $24.96. The stock has a market capitalization of $9.42 billion, a price-to-earnings ratio of 46.21, a P/E/G ratio of 2.96 and a beta of 0.32.

NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, August 4th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. NiSource had a net margin of 5.75% and a return on equity of 11.57%. The business had revenue of $986.00 million during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the business earned $0.13 EPS. Analysts predict that NiSource Inc. will post 1.35 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 19th. Investors of record on Friday, October 29th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Thursday, October 28th. NiSource’s payout ratio is presently 66.67%.

In other NiSource news, CFO Donald Eugene Brown sold 19,762 shares of the business’s stock in a transaction on Friday, August 20th. The shares were sold at an average price of $25.68, for a total transaction of $507,488.16. Following the completion of the transaction, the chief financial officer now owns 145,938 shares of the company’s stock, valued at approximately $3,747,687.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Pablo Vegas sold 5,384 shares of the business’s stock in a transaction on Thursday, July 1st. The stock was sold at an average price of $24.54, for a total transaction of $132,123.36. Following the transaction, the chief operating officer now directly owns 101,224 shares of the company’s stock, valued at approximately $2,484,036.96. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by insiders.

NiSource Company Profile

NiSource, Inc is a holding company, which engages in energy solutions. Through its subsidiaries, it provides natural gas, electricity, and other products and services. It operates through the following segments: Gas Distribution Operations and Electric Operations. The Gas Distribution Operations segment focuses in the natural gas service and transportation for residential, commercial, and industrial customers.

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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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