Bbva Compass Bancshares Inc. boosted its holdings in shares of NiSource, Inc (NYSE:NI) by 43.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,022 shares of the utilities provider’s stock after purchasing an additional 5,718 shares during the period. Bbva Compass Bancshares Inc.’s holdings in NiSource were worth $487,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its stake in NiSource by 17.1% during the third quarter. Victory Capital Management Inc. now owns 2,367,056 shares of the utilities provider’s stock worth $60,573,000 after purchasing an additional 346,166 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in NiSource during the third quarter worth $1,123,000. Raymond James Financial Services Advisors Inc. lifted its stake in NiSource by 193.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 33,124 shares of the utilities provider’s stock worth $848,000 after purchasing an additional 21,837 shares during the last quarter. Calamos Advisors LLC lifted its stake in NiSource by 3.8% during the third quarter. Calamos Advisors LLC now owns 177,090 shares of the utilities provider’s stock worth $4,532,000 after purchasing an additional 6,491 shares during the last quarter. Finally, First Midwest Bank Trust Division lifted its stake in NiSource by 12.7% during the third quarter. First Midwest Bank Trust Division now owns 29,545 shares of the utilities provider’s stock worth $756,000 after purchasing an additional 3,324 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.
In related news, Director Michael E. Jesanis bought 2,000 shares of the stock in a transaction that occurred on 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 directly owns 34,195 shares in the company, valued at $904,115.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.35% of the stock is owned by company insiders.
NiSource, Inc (NYSE:NI) opened at $27.33 on Monday. NiSource, Inc has a 12 month low of $21.17 and a 12 month high of $27.41. The company has a market capitalization of $9,204.57, a price-to-earnings ratio of 23.76, a PEG ratio of 4.04 and a beta of 0.37. The company has a quick ratio of 0.32, a current ratio of 0.52 and a debt-to-equity ratio of 1.72.
NiSource (NYSE:NI) last announced its earnings results on Wednesday, November 1st. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.07. The business had revenue of $917.00 million during the quarter, compared to analyst estimates of $901.00 million. NiSource had a return on equity of 8.97% and a net margin of 5.61%. During the same period last year, the company earned $0.06 EPS. sell-side analysts predict that NiSource, Inc will post 1.19 earnings per share for the current fiscal 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 given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 2.56%. The ex-dividend date is Monday, October 30th. NiSource’s dividend payout ratio is currently 85.37%.
Several research firms have weighed in on NI. Credit Suisse Group upped their target price on NiSource from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday. Wells Fargo & Company began coverage on NiSource in a research note on Wednesday, August 9th. They set an “outperform” rating and a $30.00 target price for the company. Zacks Investment Research upgraded NiSource from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Monday, October 2nd. KeyCorp restated a “buy” rating and set a $29.50 target price on shares of NiSource in a research note on Friday, September 1st. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $23.00 price target on shares of NiSource in a research note on Friday, July 14th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $26.85.
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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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