Nisa Investment Advisors LLC grew its position in shares of NiSource, Inc (NYSE:NI - Free Report) by 9.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 136,473 shares of the utilities provider's stock after buying an additional 11,215 shares during the quarter. Nisa Investment Advisors LLC's holdings in NiSource were worth $5,471,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of NiSource by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 57,793,581 shares of the utilities provider's stock worth $2,124,492,000 after buying an additional 2,459,452 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in NiSource by 10.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 21,370,032 shares of the utilities provider's stock valued at $785,563,000 after purchasing an additional 1,965,334 shares during the period. Geode Capital Management LLC boosted its holdings in NiSource by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 11,448,075 shares of the utilities provider's stock valued at $419,765,000 after purchasing an additional 700,747 shares during the period. Millennium Management LLC increased its holdings in NiSource by 185.0% in the 4th quarter. Millennium Management LLC now owns 9,244,744 shares of the utilities provider's stock valued at $339,837,000 after buying an additional 6,001,486 shares during the period. Finally, Invesco Ltd. increased its holdings in NiSource by 49.5% in the 4th quarter. Invesco Ltd. now owns 8,199,873 shares of the utilities provider's stock valued at $301,427,000 after buying an additional 2,714,262 shares during the period. 91.64% of the stock is owned by institutional investors.
Insider Activity at NiSource
In other news, EVP Melanie B. Berman sold 6,227 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $39.42, for a total transaction of $245,468.34. Following the completion of the transaction, the executive vice president directly owned 28,882 shares of the company's stock, valued at $1,138,528.44. This trade represents a 17.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael E. Jesanis sold 6,178 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $37.81, for a total transaction of $233,590.18. Following the transaction, the director directly owned 18,541 shares of the company's stock, valued at approximately $701,035.21. This trade represents a 24.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,405 shares of company stock valued at $631,939. 0.24% of the stock is owned by company insiders.
NiSource Trading Down 0.2%
Shares of NiSource stock traded down $0.08 during mid-day trading on Tuesday, hitting $39.87. The stock had a trading volume of 3,801,268 shares, compared to its average volume of 4,128,612. The firm has a 50-day moving average of $39.36 and a two-hundred day moving average of $38.82. NiSource, Inc has a 12-month low of $29.67 and a 12-month high of $41.45. The company has a quick ratio of 0.45, a current ratio of 0.52 and a debt-to-equity ratio of 1.17. The firm has a market cap of $18.77 billion, a P/E ratio of 21.55, a price-to-earnings-growth ratio of 2.68 and a beta of 0.54.
NiSource (NYSE:NI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.90 by $0.08. NiSource had a net margin of 14.67% and a return on equity of 8.41%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the firm posted $0.85 earnings per share. Sell-side analysts forecast that NiSource, Inc will post 1.91 earnings per share for the current year.
NiSource Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Thursday, July 31st will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.12 dividend on an annualized basis and a yield of 2.81%. NiSource's dividend payout ratio is presently 60.54%.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on NI. Wells Fargo & Company raised their price target on shares of NiSource from $43.00 to $45.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Mizuho upped their price objective on shares of NiSource from $42.00 to $44.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 26th. UBS Group upped their price objective on shares of NiSource from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, March 21st. BMO Capital Markets upped their price objective on shares of NiSource from $42.00 to $43.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of NiSource from $42.00 to $43.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, NiSource currently has a consensus rating of "Buy" and a consensus price target of $41.50.
Read Our Latest Stock Analysis on NI
NiSource Company Profile
(
Free Report)
NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.
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