NiSource, Inc (NI) Shares Sold by Oregon Public Employees Retirement Fund
Oregon Public Employees Retirement Fund reduced its stake in NiSource, Inc (NYSE:NI) by 13.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,028 shares of the utilities provider’s stock after selling 12,900 shares during the period. Oregon Public Employees Retirement Fund’s holdings in NiSource were worth $2,030,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in 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. boosted its stake in 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 boosted its stake in 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. Brookfield Asset Management Inc. boosted its stake in NiSource by 7.0% in the fourth quarter. Brookfield Asset Management Inc. now owns 2,575,579 shares of the utilities provider’s stock valued at $57,023,000 after buying an additional 167,400 shares during the period. Finally, Morgan Stanley boosted its stake in 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. Institutional investors and hedge funds own 82.87% of the company’s stock.
Shares of NiSource, Inc (NI) traded down 0.15% on Monday, reaching $26.36. The company’s stock had a trading volume of 1,514,114 shares. NiSource, Inc has a one year low of $21.17 and a one year high of $26.56. The firm has a market capitalization of $8.59 billion, a PE ratio of 24.10 and a beta of 0.37. The firm has a 50-day moving average price of $25.79 and a 200 day moving average price of $24.30.
NiSource (NYSE:NI) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. The company had revenue of $990.70 million during the quarter, compared to analyst estimates of $934.95 million. NiSource had a return on equity of 9.17% and a net margin of 5.96%. During the same quarter in the prior year, the business earned $0.09 earnings per share. On average, analysts anticipate that NiSource, Inc will post $1.19 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, July 31st will be issued a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.70 dividend on an annualized basis and a yield of 2.66%. NiSource’s dividend payout ratio is currently 81.40%.
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NI has been the subject of several research analyst reports. Zacks Investment Research cut NiSource from a “buy” rating to a “hold” rating in a report on Wednesday, May 31st. Jefferies Group LLC restated a “hold” rating and issued a $23.00 target price on shares of NiSource in a research note on Friday, July 14th. Zelman & Associates cut NiSource from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. Ladenburg Thalmann Financial Services assumed coverage on NiSource in a research note on Friday, May 19th. They issued a “buy” rating and a $27.00 target price for the company. Finally, Barclays PLC restated an “equal weight” rating and issued a $26.00 target price (up previously from $25.00) on shares of NiSource in a research note on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $25.38.
In other NiSource news, CFO Donald Eugene Brown sold 6,906 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $25.51, for a total transaction of $176,172.06. Following the completion of the sale, the chief financial officer now owns 141,168 shares in the company, valued at $3,601,195.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Violet Sistovaris sold 38,550 shares of the stock in a transaction on Friday, May 12th. The shares were sold at an average price of $24.25, for a total value of $934,837.50. Following the sale, the executive vice president now owns 185,186 shares of the company’s stock, valued at approximately $4,490,760.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,981 shares of company stock valued at $2,191,779. 0.32% of the stock is owned by company 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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