Louisiana State Employees Retirement System boosted its stake in NiSource, Inc (NYSE:NI) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,100 shares of the utilities provider’s stock after buying an additional 200 shares during the period. Louisiana State Employees Retirement System’s holdings in NiSource were worth $510,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NI. BlackRock Inc. increased its position in 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 during the period. JPMorgan Chase & Co. increased its position 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 during the last quarter. Geode Capital Management LLC increased its position 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 during the last quarter. Morgan Stanley increased its position 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 during the last quarter. Finally, Legal & General Group Plc increased its position in shares of NiSource by 1.3% in the first quarter. Legal & General Group Plc now owns 2,374,622 shares of the utilities provider’s stock valued at $56,492,000 after buying an additional 31,063 shares during the last quarter. 82.87% of the stock is owned by institutional investors and hedge funds.
NiSource, Inc (NYSE NI) traded down 0.27% during mid-day trading on Friday, reaching $26.30. The company’s stock had a trading volume of 478,577 shares. The firm has a 50-day moving average of $25.87 and a 200 day moving average of $24.46. NiSource, Inc has a 1-year low of $21.17 and a 1-year high of $26.69. The firm has a market capitalization of $8.57 billion, a price-to-earnings ratio of 30.51 and a beta of 0.37.
NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.10. NiSource had a return on equity of 9.17% and a net margin of 5.96%. The company had revenue of $990.70 million during the quarter, compared to the consensus estimate of $934.95 million. During the same period last year, the business earned $0.09 EPS. Equities analysts expect that NiSource, Inc will post $1.19 earnings per share 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 paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Monday, October 30th. NiSource’s dividend payout ratio (DPR) is presently 81.40%.
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Several brokerages recently weighed in on NI. Zacks Investment Research downgraded shares of NiSource from a “buy” rating to a “hold” rating in a research note on Monday, June 12th. Wells Fargo & Company began coverage on shares of NiSource in a research note on Wednesday. They issued an “outperform” rating and a $30.00 target price for the company. Barclays PLC reissued an “equal weight” rating and issued a $26.00 target price (up previously from $25.00) on shares of NiSource in a research note on Thursday, June 1st. Ladenburg Thalmann Financial Services began coverage on shares of NiSource in a research note on Friday, May 19th. They issued a “buy” rating and a $27.00 target price for the company. Finally, Zelman & Associates downgraded shares of NiSource from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. NiSource has a consensus rating of “Hold” and an average price target of $25.89.
In other news, EVP Pablo Vegas sold 7,200 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $25.12, for a total transaction of $180,864.00. Following the completion of the sale, the executive vice president now directly owns 94,885 shares of the company’s stock, valued at approximately $2,383,511.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Donald Eugene Brown sold 6,906 shares of the firm’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $25.51, for a total value of $176,172.06. Following the sale, the chief financial officer now directly owns 141,168 shares of the company’s stock, valued at $3,601,195.68. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.
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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