Wafra Investment Advisory Group Inc. NY lessened its stake in shares of NiSource, Inc (NYSE:NI) by 3.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 423,615 shares of the utilities provider’s stock after selling 13,016 shares during the period. Wafra Investment Advisory Group Inc. NY owned 0.13% of NiSource worth $10,743,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Marshall Wace North America L.P. raised its holdings in NiSource by 304.9% in the 2nd quarter. Marshall Wace North America L.P. now owns 142,287 shares of the utilities provider’s stock valued at $3,557,000 after buying an additional 107,142 shares during the period. State of Wisconsin Investment Board raised its holdings in NiSource by 48.8% in the 2nd quarter. State of Wisconsin Investment Board now owns 205,446 shares of the utilities provider’s stock valued at $5,210,000 after buying an additional 67,360 shares during the period. Calamos Advisors LLC purchased a new stake in NiSource in the 2nd quarter valued at about $4,326,000. Schroder Investment Management Group purchased a new stake in NiSource in the 2nd quarter valued at about $35,129,000. Finally, GAM Holding AG raised its holdings in NiSource by 336.2% in the 2nd quarter. GAM Holding AG now owns 69,166 shares of the utilities provider’s stock valued at $1,754,000 after buying an additional 53,311 shares during the period. Institutional investors and hedge funds own 81.96% of the company’s stock.
Shares of NiSource, Inc (NI) traded up 1.293% during mid-day trading on Tuesday, reaching $26.245. 677,310 shares of the company’s stock were exchanged. NiSource, Inc has a 52 week low of $21.17 and a 52 week high of $27.29. The stock has a market cap of $8.55 billion, a price-to-earnings ratio of 30.447 and a beta of 0.37. The stock has a 50 day moving average price of $26.44 and a 200 day moving average price of $25.53.
The company 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 of this dividend is Monday, October 30th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.70%. NiSource’s dividend payout ratio (DPR) is 81.40%.
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In other news, Director Michael E. Jesanis acquired 2,000 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were bought at an average cost of $26.44 per share, for a total transaction of $52,880.00. Following the acquisition, the director now directly owns 34,195 shares in the company, valued at approximately $904,115.80. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.35% of the company’s stock.
Several analysts recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of NiSource in a report on Wednesday, August 9th. They issued an “outperform” rating and a $30.00 price objective on the stock. Zacks Investment Research upgraded shares of NiSource from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Monday, October 2nd. KeyCorp restated a “buy” rating and issued a $29.50 price objective on shares of NiSource in a report on Friday, September 1st. Credit Suisse Group upgraded shares of NiSource from an “underperform” rating to an “outperform” rating and boosted their price objective for the company from $25.00 to $29.00 in a report on Monday, August 14th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $23.00 price objective on shares of NiSource in a report on Friday, July 14th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $26.72.
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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