Pegasus Partners Ltd. Purchases New Stake in NiSource, Inc (NI)

Pegasus Partners Ltd. purchased a new position in NiSource, Inc (NYSE:NI) during the second quarter, Holdings Channel reports. The institutional investor purchased 132,278 shares of the utilities provider’s stock, valued at approximately $3,355,000.

Several other institutional investors have also recently bought and sold shares of the company. KBC Group NV increased its position in NiSource by 2.8% in the second quarter. KBC Group NV now owns 34,652 shares of the utilities provider’s stock worth $879,000 after buying an additional 940 shares during the last quarter. Legal & General Group Plc increased its position in NiSource by 3.7% in the second quarter. Legal & General Group Plc now owns 2,462,515 shares of the utilities provider’s stock worth $62,451,000 after buying an additional 87,893 shares during the last quarter. State of Wisconsin Investment Board increased its position in NiSource by 48.8% in the second quarter. State of Wisconsin Investment Board now owns 205,446 shares of the utilities provider’s stock worth $5,210,000 after buying an additional 67,360 shares during the last quarter. LMR Partners LLP increased its position in NiSource by 487.9% in the second quarter. LMR Partners LLP now owns 57,529 shares of the utilities provider’s stock worth $1,459,000 after buying an additional 47,744 shares during the last quarter. Finally, Conning Inc. purchased a new position in NiSource during the second quarter worth about $206,000. 82.21% of the stock is currently owned by institutional investors and hedge funds.

Shares of NiSource, Inc (NYSE:NI) opened at 26.69 on Friday. NiSource, Inc has a 52 week low of $21.17 and a 52 week high of $27.02. The company’s 50 day moving average price is $25.99 and its 200-day moving average price is $24.62. The stock has a market capitalization of $8.70 billion, a PE ratio of 30.96 and a beta of 0.37.

NiSource (NYSE:NI) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. NiSource had a return on equity of 9.17% and a net margin of 5.96%. The firm had revenue of $990.70 million during the quarter, compared to analysts’ expectations of $934.95 million. During the same period in the previous year, the firm posted $0.09 EPS. Equities research analysts predict that NiSource, Inc will post $1.19 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Tuesday, October 31st will be paid a dividend of $0.175 per share. The ex-dividend date is Monday, October 30th. This represents a $0.70 annualized dividend and a yield of 2.62%. NiSource’s payout ratio is 81.40%.

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A number of research firms have recently issued reports on NI. Credit Suisse Group raised NiSource from an “underperform” rating to an “outperform” rating and increased their price target for the stock from $25.00 to $29.00 in a research report on Monday. Wells Fargo & Company began coverage on NiSource in a research report on Wednesday, August 9th. They set an “outperform” rating and a $30.00 price target on the stock. Jefferies Group LLC reissued a “hold” rating and set a $23.00 price target on shares of NiSource in a research report on Friday, July 14th. Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Friday, July 14th. Finally, Barclays PLC reissued an “equal weight” rating and set a $26.00 price target (up previously from $25.00) on shares of NiSource in a research report on Thursday, June 1st. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $26.33.

In other NiSource news, Director Michael E. Jesanis acquired 2,000 shares of the stock in a transaction dated Monday, August 14th. The stock was acquired at an average cost of $26.44 per share, with a total value of $52,880.00. Following the transaction, the director now owns 34,195 shares in the company, valued at approximately $904,115.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Pablo Vegas sold 7,200 shares of the company’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 transaction, the executive vice president now directly 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.

About NiSource

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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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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