World Asset Management Inc Buys 373 Shares of NiSource Inc. (NYSE:NI)

World Asset Management Inc boosted its stake in NiSource Inc. (NYSE:NI) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,895 shares of the utilities provider’s stock after acquiring an additional 373 shares during the period. World Asset Management Inc’s holdings in NiSource were worth $688,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in NiSource by 3.9% in the first quarter. JPMorgan Chase & Co. now owns 15,148,835 shares of the utilities provider’s stock valued at $434,165,000 after acquiring an additional 567,988 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of NiSource by 73.1% during the 1st quarter. Jennison Associates LLC now owns 5,626,608 shares of the utilities provider’s stock valued at $161,259,000 after buying an additional 2,375,299 shares in the last quarter. Commonwealth Bank of Australia boosted its holdings in shares of NiSource by 32.7% during the 1st quarter. Commonwealth Bank of Australia now owns 5,318,979 shares of the utilities provider’s stock valued at $152,428,000 after buying an additional 1,309,337 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of NiSource by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 4,703,532 shares of the utilities provider’s stock valued at $119,026,000 after buying an additional 363,894 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of NiSource by 2.9% during the 1st quarter. Northern Trust Corp now owns 4,587,546 shares of the utilities provider’s stock valued at $131,480,000 after buying an additional 128,055 shares in the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.

A number of brokerages have recently commented on NI. Argus upgraded shares of NiSource from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Wednesday, July 24th. Zacks Investment Research cut shares of NiSource from a “hold” rating to a “sell” rating and set a $30.00 target price on the stock. in a report on Wednesday, May 29th. Goldman Sachs Group upgraded shares of NiSource from a “neutral” rating to a “buy” rating and boosted their target price for the company from $26.00 to $29.00 in a report on Monday, April 8th. Bank of America cut shares of NiSource from a “buy” rating to a “neutral” rating and set a $27.37 target price on the stock. in a report on Monday, April 22nd. Finally, TheStreet upgraded shares of NiSource from a “c+” rating to a “b-” rating in a report on Monday, May 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $28.32.

NiSource stock traded down $0.33 during mid-day trading on Friday, reaching $29.71. The stock had a trading volume of 3,979,412 shares, compared to its average volume of 1,855,019. The firm has a market cap of $11.08 billion, a P/E ratio of 22.85, a price-to-earnings-growth ratio of 4.32 and a beta of 0.23. The company’s 50-day moving average price is $29.27. NiSource Inc. has a one year low of $24.19 and a one year high of $30.34. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.48 and a quick ratio of 0.42.

NiSource (NYSE:NI) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.05. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.06 billion. NiSource had a net margin of 3.15% and a return on equity of 10.75%. During the same quarter in the previous year, the business posted $0.07 EPS. On average, analysts forecast that NiSource Inc. will post 1.3 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Wednesday, July 31st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Tuesday, July 30th. NiSource’s payout ratio is 61.54%.

About NiSource

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 for residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and wholesale and transmission transaction services.

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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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