Rothschild Asset Management Inc. purchased a new position in NiSource, Inc (NYSE:NI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 20,692 shares of the utilities provider’s stock, valued at approximately $525,000.
Several other hedge funds have also recently modified their holdings of the company. Bbva Compass Bancshares Inc. purchased a new stake in shares of NiSource during the second quarter worth $338,000. Alpha Cubed Investments LLC purchased a new stake in shares of NiSource during the second quarter worth $234,000. Janney Montgomery Scott LLC increased its stake in shares of NiSource by 1.4% in the second quarter. Janney Montgomery Scott LLC now owns 42,043 shares of the utilities provider’s stock worth $1,066,000 after buying an additional 599 shares during the period. Schnieders Capital Management LLC increased its stake in shares of NiSource by 26.9% in the second quarter. Schnieders Capital Management LLC now owns 17,026 shares of the utilities provider’s stock worth $438,000 after buying an additional 3,606 shares during the period. Finally, NGAM Advisors L.P. increased its position in shares of NiSource by 6.9% in the second quarter. NGAM Advisors L.P. now owns 53,291 shares of the utilities provider’s stock valued at $1,351,000 after buying an additional 3,438 shares during the last quarter. 82.87% of the stock is owned by institutional investors.
NiSource, Inc (NI) opened at 26.35 on Friday. The stock’s 50 day moving average is $25.88 and its 200 day moving average is $24.49. NiSource, Inc has a 1-year low of $21.17 and a 1-year high of $26.69. The company has a market cap of $8.59 billion, a P/E ratio of 30.57 and a beta of 0.37.
NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.10. The firm had revenue of $990.70 million during the quarter, compared to analyst estimates of $934.95 million. NiSource had a net margin of 5.96% and a return on equity of 9.17%. During the same period in the previous year, the business posted $0.09 EPS. Equities analysts anticipate that NiSource, Inc will post $1.19 earnings per share for the current fiscal year.
The firm also recently disclosed 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 is Monday, October 30th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.66%. NiSource’s payout ratio is 81.40%.
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Several brokerages recently commented on NI. Wells Fargo & Company began coverage on shares of NiSource in a research note on Wednesday. They issued an “outperform” rating and a $30.00 price objective for the company. 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. Zacks Investment Research raised shares of NiSource from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Friday, July 14th. Barclays PLC reissued an “equal weight” rating and issued a $26.00 price objective (up previously from $25.00) on shares of NiSource in a research note on Thursday, June 1st. Finally, Zelman & Associates downgraded shares of NiSource from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. NiSource presently has a consensus rating of “Hold” and an average target price of $25.89.
In other news, CFO Donald Eugene Brown sold 6,906 shares of the business’s stock in a transaction that occurred on 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 directly owns 141,168 shares in the company, valued at approximately $3,601,195.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Pablo Vegas sold 7,200 shares of the business’s stock in a transaction that occurred on 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 owns 94,885 shares of the company’s stock, valued at $2,383,511.20. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.
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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