Insider Buying: NiSource Inc. (NI) EVP Buys 21,541 Shares of Stock
NiSource Inc. (NYSE:NI) EVP Pablo Vegas purchased 21,541 shares of the business’s stock in a transaction dated Wednesday, November 16th. The shares were acquired at an average price of $21.75 per share, for a total transaction of $468,516.75. Following the acquisition, the executive vice president now directly owns 71,397 shares in the company, valued at approximately $1,552,884.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
NiSource Inc. (NYSE:NI) traded up 0.46% during mid-day trading on Friday, reaching $21.71. 2,114,826 shares of the company’s stock traded hands. The firm has a market cap of $7.01 billion, a PE ratio of 23.07 and a beta of 0.28. NiSource Inc. has a 1-year low of $18.60 and a 1-year high of $26.94. The firm has a 50 day moving average of $22.58 and a 200 day moving average of $24.23.
NiSource (NYSE:NI) last announced its earnings results on Tuesday, November 1st. The company reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.01. NiSource had a return on equity of 8.76% and a net margin of 6.87%. During the same quarter last year, the firm posted $0.06 EPS. Analysts forecast that NiSource Inc. will post $1.07 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in NI. Cohen & Steers Inc. boosted its position in shares of NiSource by 14,608.3% in the second quarter. Cohen & Steers Inc. now owns 97,537,000 shares of the company’s stock valued at $95,586,000 after buying an additional 96,873,859 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of NiSource by 12.2% in the second quarter. Vanguard Group Inc. now owns 33,580,911 shares of the company’s stock valued at $890,566,000 after buying an additional 3,654,293 shares during the last quarter. State Street Corp boosted its position in shares of NiSource by 14.9% in the second quarter. State Street Corp now owns 16,070,267 shares of the company’s stock valued at $426,183,000 after buying an additional 2,088,701 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of NiSource during the third quarter valued at approximately $36,119,000. Finally, Alliancebernstein L.P. boosted its position in shares of NiSource by 29.4% in the second quarter. Alliancebernstein L.P. now owns 4,957,873 shares of the company’s stock valued at $131,483,000 after buying an additional 1,125,459 shares during the last quarter. Institutional investors and hedge funds own 82.40% of the company’s stock.
A number of research analysts have recently weighed in on NI shares. Jefferies Group downgraded shares of NiSource from a “hold” rating to an “underperform” rating and set a $22.00 price target on the stock. in a report on Monday, July 25th. Zacks Investment Research downgraded shares of NiSource from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Citigroup Inc. raised their price target on shares of NiSource from $18.08 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $26.00 target price on shares of NiSource in a report on Wednesday, August 3rd. Finally, Credit Suisse Group AG set a $25.00 target price on shares of NiSource and gave the stock a “hold” rating in a report on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $25.09.
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 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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