Engineers Gate Manager LP bought a new stake in NiSource (NYSE:NI) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 99,376 shares of the utilities provider’s stock, valued at approximately $2,376,000.
A number of other institutional investors have also recently bought and sold shares of NI. Electron Capital Partners LLC acquired a new stake in shares of NiSource during the fourth quarter valued at $36,258,000. BlackRock Inc. boosted its stake in shares of NiSource by 4.6% during the fourth quarter. BlackRock Inc. now owns 24,779,376 shares of the utilities provider’s stock valued at $636,086,000 after acquiring an additional 1,093,752 shares during the last quarter. Millennium Management LLC boosted its stake in shares of NiSource by 38.6% during the fourth quarter. Millennium Management LLC now owns 3,591,733 shares of the utilities provider’s stock valued at $92,200,000 after acquiring an additional 999,678 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of NiSource by 69.1% during the fourth quarter. Schroder Investment Management Group now owns 2,344,411 shares of the utilities provider’s stock valued at $60,181,000 after acquiring an additional 958,344 shares during the last quarter. Finally, Luminus Management LLC acquired a new stake in shares of NiSource during the fourth quarter valued at $24,504,000. 86.60% of the stock is currently owned by institutional investors.
A number of analysts recently commented on the company. Zacks Investment Research lowered NiSource from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. ValuEngine raised NiSource from a “hold” rating to a “buy” rating in a research note on Friday, April 27th. JPMorgan Chase decreased their price objective on NiSource from $28.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, January 25th. Citigroup lowered NiSource from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $31.00 to $25.00 in a research note on Tuesday, March 27th. Finally, TheStreet raised NiSource from a “c” rating to a “b” rating in a research note on Wednesday, May 2nd. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $26.42.
NYSE NI opened at $24.40 on Thursday. NiSource has a twelve month low of $24.46 and a twelve month high of $24.73. The stock has a market cap of $8.39 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 3.52 and a beta of 0.25. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.62.
NiSource (NYSE:NI) last released its earnings results on Wednesday, May 2nd. The utilities provider reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.01. NiSource had a return on equity of 9.85% and a net margin of 3.85%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the business posted $0.71 earnings per share. equities analysts anticipate that NiSource will post 1.28 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 20th. Investors of record on Tuesday, July 31st will be given a dividend of $0.195 per share. The ex-dividend date of this dividend is Monday, July 30th. This represents a $0.78 annualized dividend and a yield of 3.20%. NiSource’s dividend payout ratio (DPR) is presently 64.46%.
In other news, Director Eric L. Butler acquired 4,000 shares of the business’s stock in a transaction dated Wednesday, May 9th. The shares were bought at an average cost of $24.83 per share, for a total transaction of $99,320.00. Following the acquisition, the director now directly owns 13,687 shares in the company, valued at approximately $339,848.21. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, VP Teresa M. Smith sold 15,748 shares of the firm’s stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $25.35, for a total value of $399,211.80. Following the completion of the transaction, the vice president now owns 11,873 shares in the company, valued at $300,980.55. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.
NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation to residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and offers wholesale and transmission transaction services.
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