Schroder Investment Management Group Invests $35.13 Million in NiSource, Inc (NI) Stock
Schroder Investment Management Group purchased a new position in NiSource, Inc (NYSE:NI) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,383,588 shares of the utilities provider’s stock, valued at approximately $35,129,000. Schroder Investment Management Group owned approximately 0.42% of NiSource at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. ING Groep NV increased its stake in NiSource by 0.4% in the 2nd quarter. ING Groep NV now owns 16,563 shares of the utilities provider’s stock worth $420,000 after purchasing an additional 59 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in NiSource by 0.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 11,636 shares of the utilities provider’s stock worth $295,000 after purchasing an additional 68 shares in the last quarter. Level Four Advisory Services LLC increased its stake in NiSource by 0.5% in the 1st quarter. Level Four Advisory Services LLC now owns 16,299 shares of the utilities provider’s stock worth $388,000 after purchasing an additional 76 shares in the last quarter. CIBC Asset Management Inc increased its stake in NiSource by 0.4% in the 2nd quarter. CIBC Asset Management Inc now owns 30,131 shares of the utilities provider’s stock worth $764,000 after purchasing an additional 124 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in NiSource by 0.5% in the 1st quarter. HighTower Advisors LLC now owns 27,685 shares of the utilities provider’s stock worth $661,000 after purchasing an additional 129 shares in the last quarter. 81.96% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Michael E. Jesanis acquired 2,000 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the director now owns 34,195 shares in the company, valued at $904,115.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is owned by corporate insiders.
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A number of equities analysts recently weighed in on NI shares. Ladenburg Thalmann Financial Services started coverage on NiSource in a research note on Friday, May 19th. They issued a “buy” rating and a $27.00 price target on the stock. Zacks Investment Research cut NiSource from a “buy” rating to a “hold” rating in a research note on Thursday, May 25th. Zelman & Associates cut NiSource from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. Barclays PLC reaffirmed an “equal weight” rating and set a $26.00 target price (up previously from $25.00) on shares of NiSource in a research note on Thursday, June 1st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $23.00 target price on shares of NiSource in a research note on Friday, July 14th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. NiSource has an average rating of “Buy” and an average target price of $26.61.
NiSource, Inc (NYSE:NI) opened at 27.11 on Monday. The stock has a market cap of $8.83 billion, a PE ratio of 31.45 and a beta of 0.39. The firm’s 50-day moving average price is $26.62 and its 200 day moving average price is $25.12. NiSource, Inc has a 1-year low of $21.17 and a 1-year high of $27.25.
NiSource (NYSE:NI) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. NiSource had a return on equity of 9.17% and a net margin of 5.96%. The company had revenue of $990.70 million during the quarter, compared to the consensus estimate of $934.95 million. During the same period in the prior year, the company earned $0.09 earnings per share. Equities research analysts expect that NiSource, Inc will post $1.19 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Tuesday, October 31st will be issued a $0.175 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.70 annualized dividend and a dividend yield of 2.58%. NiSource’s dividend payout ratio (DPR) is currently 81.40%.
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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