Anchor Capital Advisors LLC lowered its holdings in NiSource (NYSE:NI) by 0.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 645,934 shares of the utilities provider’s stock after selling 2,572 shares during the quarter. Anchor Capital Advisors LLC owned 0.19% of NiSource worth $15,444,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the business. Opus Investment Management Inc. lifted its holdings in NiSource by 206.9% in the first quarter. Opus Investment Management Inc. now owns 106,795 shares of the utilities provider’s stock valued at $2,553,000 after acquiring an additional 72,000 shares during the period. BlackRock Inc. lifted its holdings in NiSource by 20.8% in the first quarter. BlackRock Inc. now owns 29,932,704 shares of the utilities provider’s stock valued at $715,690,000 after acquiring an additional 5,153,328 shares during the period. Glen Harbor Capital Management LLC lifted its holdings in NiSource by 18.1% in the first quarter. Glen Harbor Capital Management LLC now owns 32,844 shares of the utilities provider’s stock valued at $785,000 after acquiring an additional 5,032 shares during the period. Eagle Boston Investment Management Inc. lifted its holdings in NiSource by 21.9% in the first quarter. Eagle Boston Investment Management Inc. now owns 75,289 shares of the utilities provider’s stock valued at $1,800,000 after acquiring an additional 13,539 shares during the period. Finally, Korea Investment CORP lifted its holdings in NiSource by 11.8% in the first quarter. Korea Investment CORP now owns 202,211 shares of the utilities provider’s stock valued at $4,835,000 after acquiring an additional 21,311 shares during the period. 89.35% of the stock is owned by institutional investors.
Several research analysts have recently issued reports on the company. TheStreet raised NiSource from a “c” rating to a “b” rating in a research note on Wednesday, May 2nd. Bank of America reaffirmed a “buy” rating and set a $28.00 price target on shares of NiSource in a research note on Monday, May 7th. Credit Suisse Group lifted their price target on NiSource to $27.00 and gave the stock an “outperform” rating in a research note on Monday, May 7th. ValuEngine raised NiSource from a “hold” rating to a “buy” rating in a research note on Friday, April 27th. Finally, JPMorgan Chase raised NiSource from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $24.40 to $26.00 in a research note on Thursday, May 17th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. NiSource currently has an average rating of “Buy” and a consensus target price of $26.45.
In related news, VP Teresa M. Smith sold 15,748 shares of NiSource stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $25.35, for a total transaction of $399,211.80. Following the completion of the sale, the vice president now owns 11,873 shares in the company, valued at approximately $300,980.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eric L. Butler acquired 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 9th. The shares were bought at an average price of $24.83 per share, with a total value of $99,320.00. Following the transaction, the director now owns 13,687 shares in the company, valued at approximately $339,848.21. The disclosure for this purchase can be found here. Company insiders own 0.37% of the company’s stock.
NiSource opened at $24.40 on Wednesday, Marketbeat Ratings reports. The firm has a market cap of $8.25 billion, a PE ratio of 20.17, a PEG ratio of 3.46 and a beta of 0.25. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.51 and a quick ratio of 0.43. NiSource has a 52-week low of $22.44 and a 52-week high of $27.76.
NiSource (NYSE:NI) last posted its quarterly earnings data on Wednesday, May 2nd. The utilities provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.66 billion. NiSource had a return on equity of 9.85% and a net margin of 3.85%. During the same quarter last year, the business posted $0.71 EPS. analysts expect that NiSource will post 1.29 EPS for the current fiscal year.
The business also recently disclosed 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. This represents a $0.78 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Monday, July 30th. NiSource’s dividend payout ratio is presently 64.46%.
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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