OppenheimerFunds Inc. Boosts Stake in NiSource, Inc (NYSE:NI)
OppenheimerFunds Inc. boosted its position in NiSource, Inc (NYSE:NI) by 10.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,487 shares of the utilities provider’s stock after buying an additional 2,265 shares during the period. OppenheimerFunds Inc.’s holdings in NiSource were worth $583,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of NI. Advisory Services Network LLC bought a new position in shares of NiSource during the first quarter worth $108,000. First Financial Corp IN acquired a new position in shares of NiSource during the first quarter valued at approximately $124,000. TCI Wealth Advisors Inc. increased 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. LSV Asset Management acquired a new position in shares of NiSource during the first quarter valued at approximately $159,000. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of NiSource during the first quarter valued at approximately $183,000. 82.87% of the stock is owned by institutional investors.
NiSource, Inc (NI) traded down 0.15% on Tuesday, reaching $26.32. The company’s stock had a trading volume of 1,891,805 shares. The firm’s 50-day moving average price is $25.84 and its 200-day moving average price is $24.35. NiSource, Inc has a 52-week low of $21.17 and a 52-week high of $26.69. The stock has a market cap of $8.57 billion, a price-to-earnings ratio of 24.06 and a beta of 0.37.
NiSource (NYSE:NI) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. NiSource had a return on equity of 9.17% and a net margin of 5.96%. The business had revenue of $990.70 million during the quarter, compared to analyst estimates of $934.95 million. During the same period in the previous year, the company posted $0.09 EPS. On average, equities analysts expect that NiSource, Inc will post $1.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Tuesday, October 31st will be given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 2.66%. NiSource’s payout ratio is 81.40%.
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Several research analysts have commented on the company. Barclays PLC reaffirmed an “equal weight” rating and issued a $26.00 price target (up from $25.00) on shares of NiSource in a research report on Thursday, June 1st. Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Thursday, June 1st. Jefferies Group LLC reissued a “hold” rating and set a $23.00 price objective on shares of NiSource in a report on Friday, July 14th. Zelman & Associates lowered NiSource from a “buy” rating to a “hold” rating in a report on Tuesday, May 30th. Finally, Ladenburg Thalmann Financial Services assumed coverage on NiSource in a report on Friday, May 19th. They set a “buy” rating and a $27.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. NiSource has an average rating of “Hold” and a consensus target price of $25.38.
In other news, CFO Donald Eugene Brown sold 6,906 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 141,168 shares in the company, valued at approximately $3,601,195.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jimmie L. Stanley sold 37,325 shares of NiSource stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $24.11, for a total transaction of $899,905.75. Following the completion of the sale, the chief operating officer now directly owns 315,471 shares in the company, valued at approximately $7,606,005.81. The disclosure for this sale can be found here. Insiders sold a total of 89,981 shares of company stock valued at $2,191,779 over the last ninety days. 0.32% of the stock is currently owned by corporate 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.
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