Gotham Asset Management LLC purchased a new position in shares of NiSource, Inc (NYSE:NI) during the first quarter, according to its most recent disclosure with the SEC. The fund purchased 11,024 shares of the utilities provider’s stock, valued at approximately $262,000.

A number of other large investors have also recently bought and sold shares of the stock. BlackRock Inc. increased 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 worth $563,954,000 after buying an additional 22,768,084 shares during the period. JPMorgan Chase & Co. increased 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 worth $414,632,000 after buying an additional 7,194,018 shares during the period. Norges Bank purchased a new stake in NiSource during the fourth quarter worth about $69,268,000. Neuberger Berman Group LLC increased its stake in NiSource by 218.4% in the first quarter. Neuberger Berman Group LLC now owns 2,319,929 shares of the utilities provider’s stock worth $55,191,000 after buying an additional 1,591,281 shares during the period. Finally, Prudential Financial Inc. increased its stake in NiSource by 281.9% in the first quarter. Prudential Financial Inc. now owns 1,727,593 shares of the utilities provider’s stock worth $41,099,000 after buying an additional 1,275,260 shares during the period. 82.87% of the stock is owned by hedge funds and other institutional investors.

NiSource, Inc (NYSE NI) traded down 0.15% on Tuesday, hitting $26.32. The company had a trading volume of 1,891,805 shares. NiSource, Inc has a 12-month low of $21.17 and a 12-month high of $26.69. The firm’s 50 day moving average price is $25.84 and its 200 day moving average price is $24.35. The stock has a market cap of $8.57 billion, a P/E ratio of 24.06 and a beta of 0.37.

NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.10. The company had revenue of $990.70 million for the quarter, compared to the consensus estimate of $934.95 million. NiSource had a return on equity of 9.17% and a net margin of 5.96%. During the same period last year, the business posted $0.09 earnings per share. Equities analysts predict that NiSource, Inc will post $1.19 earnings per share for the current fiscal 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 given a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 2.66%. NiSource’s dividend payout ratio is currently 81.40%.

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Several equities research analysts have recently weighed in on NI shares. Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Thursday, June 1st. Zelman & Associates downgraded NiSource from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. Ladenburg Thalmann Financial Services started coverage on NiSource in a research report on Friday, May 19th. They issued a “buy” rating and a $27.00 target price for the company. Barclays PLC reaffirmed an “equal weight” rating and issued a $26.00 target price (up previously from $25.00) on shares of NiSource in a research report on Thursday, June 1st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $23.00 target price on shares of NiSource in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. NiSource has a consensus rating of “Hold” and a consensus price target of $25.38.

In related news, COO Jimmie L. Stanley sold 37,325 shares of NiSource stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $24.11, for a total transaction of $899,905.75. Following the sale, the chief operating officer now directly owns 315,471 shares of the company’s stock, valued at $7,606,005.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Donald Eugene Brown sold 6,906 shares of NiSource stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $25.51, for a total value of $176,172.06. Following the sale, the chief financial officer now directly owns 141,168 shares in the company, valued at $3,601,195.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,981 shares of company stock worth $2,191,779. 0.32% of the stock is currently owned by company insiders.

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.

Institutional Ownership by Quarter for NiSource (NYSE:NI)

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