Mn Services Vermogensbeheer B.V. boosted its stake in NiSource Inc. (NYSE:NI) by 5.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,011 shares of the utilities provider’s stock after buying an additional 2,700 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in NiSource were worth $1,267,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in NiSource by 2.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 85,975 shares of the utilities provider’s stock valued at $2,056,000 after purchasing an additional 2,086 shares in the last quarter. GWM Advisors LLC boosted its holdings in shares of NiSource by 4.3% in the fourth quarter. GWM Advisors LLC now owns 54,505 shares of the utilities provider’s stock valued at $1,363,000 after acquiring an additional 2,244 shares during the period. First Republic Investment Management Inc. boosted its holdings in shares of NiSource by 15.7% in the fourth quarter. First Republic Investment Management Inc. now owns 16,544 shares of the utilities provider’s stock valued at $425,000 after acquiring an additional 2,244 shares during the period. FDx Advisors Inc. boosted its holdings in shares of NiSource by 25.4% in the fourth quarter. FDx Advisors Inc. now owns 11,615 shares of the utilities provider’s stock valued at $298,000 after acquiring an additional 2,353 shares during the period. Finally, Tyers Asset Management LLC boosted its holdings in shares of NiSource by 18.1% in the first quarter. Tyers Asset Management LLC now owns 15,456 shares of the utilities provider’s stock valued at $370,000 after acquiring an additional 2,368 shares during the period. Hedge funds and other institutional investors own 89.14% of the company’s stock.
Several brokerages recently weighed in on NI. ValuEngine raised NiSource from a “sell” rating to a “hold” rating in a report on Friday. Zacks Investment Research downgraded NiSource from a “buy” rating to a “hold” rating in a report on Wednesday, April 11th. KeyCorp reaffirmed a “buy” rating and set a $25.00 price target on shares of NiSource in a report on Thursday, March 15th. Bank of America reiterated a “buy” rating and issued a $28.00 price objective on shares of NiSource in a research report on Monday, May 7th. Finally, Credit Suisse Group increased their price objective on NiSource to $27.00 and gave the stock an “outperform” rating in a research report on Monday, May 7th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $26.50.
NI opened at $25.06 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.62. The firm has a market cap of $8.37 billion, a P/E ratio of 20.71, a P/E/G ratio of 3.51 and a beta of 0.28. NiSource Inc. has a 52 week low of $22.44 and a 52 week high of $27.76.
NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, May 2nd. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.66 billion. During the same period last year, the company earned $0.71 EPS. equities analysts predict that NiSource Inc. will post 1.29 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 20th. Shareholders of record on Tuesday, July 31st will be paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Monday, July 30th. NiSource’s payout ratio is 64.46%.
In other news, Director Eric L. Butler acquired 4,000 shares of NiSource stock in a transaction dated Wednesday, May 9th. The shares were acquired at an average cost of $24.83 per share, with a total value of $99,320.00. Following the purchase, the director now directly owns 13,687 shares of the company’s stock, valued at approximately $339,848.21. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Pablo Vegas acquired 14,500 shares of NiSource stock in a transaction dated Friday, May 25th. The stock was purchased at an average cost of $25.02 per share, for a total transaction of $362,790.00. Following the completion of the purchase, the executive vice president now directly owns 44,049 shares in the company, valued at $1,102,105.98. The disclosure for this purchase can be found here. 0.37% of the stock is currently owned by company insiders.
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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