PNC Financial Services Group Inc. cut its holdings in shares of NiSource Inc. (NYSE:NI) by 5.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,142 shares of the utilities provider’s stock after selling 3,758 shares during the period. PNC Financial Services Group Inc.’s holdings in NiSource were worth $1,870,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Nissay Asset Management Corp Japan ADV grew its stake in NiSource by 8.7% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 27,860 shares of the utilities provider’s stock worth $732,000 after purchasing an additional 2,231 shares in the last quarter. South Street Advisors LLC grew its stake in NiSource by 5.1% in the first quarter. South Street Advisors LLC now owns 47,260 shares of the utilities provider’s stock worth $1,129,000 after purchasing an additional 2,300 shares in the last quarter. Tyers Asset Management LLC grew its stake in NiSource by 18.1% in the first quarter. Tyers Asset Management LLC now owns 15,456 shares of the utilities provider’s stock worth $370,000 after purchasing an additional 2,368 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in NiSource by 26.0% in the second quarter. Daiwa Securities Group Inc. now owns 12,733 shares of the utilities provider’s stock worth $335,000 after purchasing an additional 2,626 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. grew its stake in NiSource by 5.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 53,011 shares of the utilities provider’s stock worth $1,267,000 after purchasing an additional 2,700 shares in the last quarter. Institutional investors own 90.61% of the company’s stock.
A number of research firms recently commented on NI. Guggenheim reiterated a “buy” rating and issued a $28.00 price target on shares of NiSource in a research note on Monday, July 23rd. ValuEngine upgraded NiSource from a “sell” rating to a “hold” rating in a research note on Friday, June 22nd. Barclays began coverage on NiSource in a research note on Tuesday, July 10th. They issued an “equal weight” rating and a $27.00 target price for the company. JPMorgan Chase & Co. upgraded NiSource from a “neutral” rating to an “overweight” rating in a research note on Thursday, May 31st. Finally, Zacks Investment Research upgraded NiSource from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Tuesday, July 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. NiSource currently has an average rating of “Hold” and a consensus target price of $26.70.
Shares of NI stock opened at $24.79 on Monday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.51 and a quick ratio of 0.38. NiSource Inc. has a 52 week low of $22.44 and a 52 week high of $28.11. The company has a market capitalization of $10.13 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 3.93 and a beta of 0.17.
NiSource (NYSE:NI) last issued its earnings results on Wednesday, August 1st. The utilities provider reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.02). NiSource had a net margin of 5.20% and a return on equity of 9.19%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $999.39 million. During the same quarter in the previous year, the firm earned $0.10 earnings per share. analysts predict that NiSource Inc. will post 1.29 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Wednesday, October 31st will be paid a $0.195 dividend. The ex-dividend date is Tuesday, October 30th. This represents a $0.78 dividend on an annualized basis and a yield of 3.15%. NiSource’s payout ratio is currently 64.46%.
In other news, CFO Donald Eugene Brown sold 2,400 shares of NiSource stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $26.50, for a total transaction of $63,600.00. Following the sale, the chief financial officer now owns 49,167 shares of the company’s stock, valued at $1,302,925.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Carrie J. Hightman sold 27,000 shares of NiSource stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $26.75, for a total value of $722,250.00. Following the sale, the executive vice president now directly owns 325,066 shares in the company, valued at approximately $8,695,515.50. The disclosure for this sale can be found here. 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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