Pictet Asset Management Ltd. raised its stake in shares of NiSource, Inc (NYSE:NI) by 25.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,264,081 shares of the utilities provider’s stock after buying an additional 661,840 shares during the period. Pictet Asset Management Ltd. owned about 1.01% of NiSource worth $85,095,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. BlackRock Inc. raised its position in shares of NiSource by 2,428.6% in the first quarter. BlackRock Inc. now owns 23,705,566 shares of the utilities provider’s stock valued at $563,954,000 after buying an additional 22,768,084 shares during the period. JPMorgan Chase & Co. raised its position in shares of NiSource by 70.3% in the first quarter. JPMorgan Chase & Co. now owns 17,428,785 shares of the utilities provider’s stock valued at $414,632,000 after buying an additional 7,194,018 shares during the period. Geode Capital Management LLC raised its position in shares of NiSource by 8.4% in the first quarter. Geode Capital Management LLC now owns 3,161,227 shares of the utilities provider’s stock valued at $75,093,000 after buying an additional 244,793 shares during the period. Morgan Stanley raised its position in shares of NiSource by 47.9% in the first quarter. Morgan Stanley now owns 2,565,645 shares of the utilities provider’s stock valued at $61,037,000 after buying an additional 831,460 shares during the period. Finally, Legal & General Group Plc raised its position in shares of NiSource by 1.3% in the first quarter. Legal & General Group Plc now owns 2,374,622 shares of the utilities provider’s stock valued at $56,492,000 after buying an additional 31,063 shares during the period. 82.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NiSource, Inc (NYSE:NI) traded up 0.37% on Friday, reaching $26.79. The company’s stock had a trading volume of 2,622,821 shares. NiSource, Inc has a 52-week low of $21.17 and a 52-week high of $27.02. The company has a market cap of $8.73 billion, a price-to-earnings ratio of 31.08 and a beta of 0.37. The stock has a 50-day moving average of $26.03 and a 200 day moving average of $24.66.
NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. NiSource had a return on equity of 9.17% and a net margin of 5.96%. The firm had revenue of $990.70 million during the quarter, compared to analysts’ expectations of $934.95 million. During the same quarter in the previous year, the business earned $0.09 earnings per share. On average, equities research analysts forecast that NiSource, Inc will post $1.19 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Tuesday, October 31st will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Monday, October 30th. NiSource’s dividend payout ratio is currently 81.40%.
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Several equities analysts have issued reports on NI shares. Zacks Investment Research lowered NiSource from a “buy” rating to a “hold” rating in a research note on Wednesday, May 31st. Credit Suisse Group raised NiSource from an “underperform” rating to an “outperform” rating and upped their target price for the stock from $25.00 to $29.00 in a research report on Monday. Jefferies Group LLC reaffirmed a “hold” rating and set a $23.00 target price on shares of NiSource in a research report on Friday, July 14th. Zelman & Associates lowered NiSource from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. Finally, Ladenburg Thalmann Financial Services started coverage on NiSource in a research report on Friday, May 19th. They set a “buy” rating and a $27.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $26.33.
In other NiSource news, Director Michael E. Jesanis purchased 2,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was purchased at an average price of $26.44 per share, for a total transaction of $52,880.00. Following the completion of the purchase, the director now directly owns 34,195 shares of the company’s stock, valued at $904,115.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Donald Eugene Brown sold 6,906 shares of NiSource stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $25.51, for a total value of $176,172.06. Following the completion of the sale, the chief financial officer now directly owns 141,168 shares of the company’s stock, valued at approximately $3,601,195.68. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.
NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Company’s Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.
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