Schnieders Capital Management LLC raised its stake in shares of NiSource, Inc (NYSE:NI) by 26.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,026 shares of the utilities provider’s stock after buying an additional 3,606 shares during the period. Schnieders Capital Management LLC’s holdings in NiSource were worth $438,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the stock. Advisory Services Network LLC purchased a new position in shares of NiSource during the first quarter valued at about $108,000. First Financial Corp IN purchased a new position in shares of NiSource during the first quarter valued at about $124,000. CENTRAL TRUST Co boosted its position in shares of NiSource by 454.0% in the second quarter. CENTRAL TRUST Co now owns 5,839 shares of the utilities provider’s stock valued at $148,000 after buying an additional 4,785 shares in the last quarter. TCI Wealth Advisors Inc. boosted its position in shares of NiSource by 0.4% in the first quarter. TCI Wealth Advisors Inc. now owns 6,054 shares of the utilities provider’s stock valued at $144,000 after buying an additional 27 shares in the last quarter. Finally, LSV Asset Management purchased a new position in shares of NiSource during the first quarter valued at about $159,000. 82.21% of the stock is owned by institutional investors and hedge funds.
NiSource, Inc (NYSE NI) opened at 26.79 on Friday. The firm has a market capitalization of $8.73 billion, a PE ratio of 31.08 and a beta of 0.37. NiSource, Inc has a 12-month low of $21.17 and a 12-month high of $27.02. The stock has a 50 day moving average price of $26.03 and a 200-day moving average price of $24.66.
NiSource (NYSE:NI) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. The firm had revenue of $990.70 million for the quarter, compared to the consensus estimate of $934.95 million. NiSource had a net margin of 5.96% and a return on equity of 9.17%. During the same period in the prior year, the business posted $0.09 earnings per share. On average, equities research analysts forecast that NiSource, Inc will post $1.19 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 2.61%. The ex-dividend date is Monday, October 30th. NiSource’s payout ratio is 81.40%.
Several equities analysts recently issued reports on the company. Wells Fargo & Company assumed coverage on NiSource in a report on Wednesday, August 9th. They set an “outperform” rating and a $30.00 price objective for the company. Zacks Investment Research cut NiSource from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Credit Suisse Group raised NiSource from an “underperform” rating to an “outperform” rating and lifted their price objective for the stock from $25.00 to $29.00 in a report on Monday, August 14th. Jefferies Group LLC reaffirmed a “hold” rating and set a $23.00 price objective on shares of NiSource in a report on Friday, July 14th. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $26.00 price objective (up from $25.00) on shares of NiSource in a report on Thursday, June 1st. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $26.33.
In other news, EVP Pablo Vegas sold 7,200 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $25.12, for a total value of $180,864.00. Following the sale, the executive vice president now directly owns 94,885 shares of the company’s stock, valued at $2,383,511.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael E. Jesanis purchased 2,000 shares of the stock in a transaction dated Monday, August 14th. The stock was acquired at an average cost of $26.44 per share, for a total transaction of $52,880.00. Following the completion of the transaction, the director now owns 34,195 shares of the company’s stock, valued at approximately $904,115.80. The disclosure for this purchase can be found here. Corporate insiders own 0.32% of the company’s stock.
NiSource Company Profile
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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