Bbva Compass Bancshares Inc. acquired a new position in NiSource, Inc (NYSE:NI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,304 shares of the utilities provider’s stock, valued at approximately $338,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. TCI Wealth Advisors Inc. boosted its position in NiSource by 0.4% in the first quarter. TCI Wealth Advisors Inc. now owns 6,054 shares of the utilities provider’s stock worth $144,000 after buying an additional 27 shares during the last quarter. ING Groep NV boosted its position in NiSource by 0.4% in the second quarter. ING Groep NV now owns 16,563 shares of the utilities provider’s stock worth $420,000 after buying an additional 59 shares during the last quarter. Balasa Dinverno & Foltz LLC boosted its position in NiSource by 0.3% in the first quarter. Balasa Dinverno & Foltz LLC now owns 21,364 shares of the utilities provider’s stock worth $508,000 after buying an additional 68 shares during the last quarter. Level Four Advisory Services LLC boosted its position in NiSource by 0.5% in the first quarter. Level Four Advisory Services LLC now owns 16,299 shares of the utilities provider’s stock worth $388,000 after buying an additional 76 shares during the last quarter. Finally, HighTower Advisors LLC boosted its position in NiSource by 0.5% in the first quarter. HighTower Advisors LLC now owns 27,685 shares of the utilities provider’s stock worth $661,000 after buying an additional 129 shares during the last quarter. 82.21% of the stock is owned by hedge funds and other institutional investors.
Shares of NiSource, Inc (NI) traded up 0.37% on Friday, reaching $26.79. The company had a trading volume of 2,622,821 shares. NiSource, Inc has a one year low of $21.17 and a one year high of $27.02. The company has a market capitalization of $8.73 billion, a PE ratio of 31.08 and a beta of 0.37. The company’s 50-day moving average is $26.03 and its 200-day moving average is $24.66.
NiSource (NYSE:NI) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. NiSource had a net margin of 5.96% and a return on equity of 9.17%. The company had revenue of $990.70 million during the quarter, compared to analyst estimates of $934.95 million. During the same period in the previous year, the business earned $0.09 earnings per share. Equities research analysts predict that NiSource, Inc will post $1.19 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.70 annualized dividend and a yield of 2.61%. NiSource’s payout ratio is 81.40%.
A number of research firms have issued reports on NI. Credit Suisse Group raised NiSource from an “underperform” rating to an “outperform” rating and boosted their target price for the company from $25.00 to $29.00 in a research note on Monday, August 14th. Zelman & Associates lowered NiSource from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. Jefferies Group LLC reiterated a “hold” rating and set a $23.00 target price on shares of NiSource in a research note 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, Wells Fargo & Company started coverage on NiSource in a report on Wednesday, August 9th. They issued an “outperform” rating and a $30.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $26.33.
In other NiSource news, CFO Donald Eugene Brown sold 6,906 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $25.51, for a total transaction 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 $3,601,195.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Pablo Vegas sold 7,200 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $25.12, for a total transaction of $180,864.00. Following 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. Corporate insiders own 0.32% of the company’s stock.
NiSource Company Profile
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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