James Investment Research Inc. cut its stake in shares of NiSource, Inc (NYSE:NI) by 15.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,825 shares of the utilities provider’s stock after selling 2,300 shares during the period. James Investment Research Inc.’s holdings in NiSource were worth $325,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of 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 stake in 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 stake in 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. Brookfield Asset Management Inc. increased its stake in NiSource by 7.0% in the fourth quarter. Brookfield Asset Management Inc. now owns 2,575,579 shares of the utilities provider’s stock valued at $57,023,000 after buying an additional 167,400 shares during the last quarter. Finally, Morgan Stanley increased its stake in 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. Institutional investors own 82.21% of the company’s stock.
Shares of NiSource, Inc (NYSE NI) traded up 0.37% during mid-day trading on Friday, hitting $26.79. 2,622,821 shares of the stock traded hands. The firm has a market cap of $8.73 billion, a price-to-earnings ratio of 31.08 and a beta of 0.37. The firm’s 50 day moving average price is $26.03 and its 200 day moving average price is $24.66. NiSource, Inc has a 12-month low of $21.17 and a 12-month high of $27.02.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Tuesday, October 31st will be issued 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 dividend payout ratio (DPR) is currently 81.40%.
NI has been the subject of several research reports. Zacks Investment Research downgraded shares of NiSource from a “buy” rating to a “hold” rating in a research note on Wednesday, May 31st. Credit Suisse Group upgraded shares of NiSource from an “underperform” rating to an “outperform” rating and lifted their price objective for the stock from $25.00 to $29.00 in a research note on Monday, August 14th. Jefferies Group LLC reissued a “hold” rating and set a $23.00 target price on shares of NiSource in a report on Friday, July 14th. Zelman & Associates cut shares of NiSource from a “buy” rating to a “hold” rating in a report on Tuesday, May 30th. Finally, Ladenburg Thalmann Financial Services initiated coverage on shares of NiSource in a report on Friday, May 19th. They set a “buy” rating and a $27.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $26.33.
In other news, Director Michael E. Jesanis purchased 2,000 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were bought at an average cost of $26.44 per share, with a total value of $52,880.00. Following the purchase, the director now directly owns 34,195 shares of the company’s stock, valued at $904,115.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $176,172.06. Following the sale, the chief financial officer now directly owns 141,168 shares in the company, valued at $3,601,195.68. The disclosure for this sale can be found here. Company 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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