Schwab Charles Investment Management Inc. Purchases 110,178 Shares of NiSource, Inc (NI)
Schwab Charles Investment Management Inc. increased its position in NiSource, Inc (NYSE:NI) by 8.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,435,595 shares of the utilities provider’s stock after purchasing an additional 110,178 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.44% of NiSource worth $36,407,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of NI. CENTRAL TRUST Co lifted its holdings in shares of NiSource by 454.0% in the 2nd quarter. CENTRAL TRUST Co now owns 5,839 shares of the utilities provider’s stock worth $148,000 after purchasing an additional 4,785 shares in the last quarter. LSV Asset Management bought a new position in shares of NiSource in the 1st quarter worth $159,000. Ameritas Investment Partners Inc. bought a new position in shares of NiSource in the 1st quarter worth $183,000. Commerzbank Aktiengesellschaft FI bought a new position in shares of NiSource in the 1st quarter worth $202,000. Finally, Laurion Capital Management LP bought a new position in shares of NiSource in the 1st quarter worth $202,000. Institutional investors own 81.96% of the company’s stock.
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In related news, Director Michael E. Jesanis bought 2,000 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were purchased at an average cost of $26.44 per share, with a total value of $52,880.00. Following the completion of the purchase, the director now owns 34,195 shares in the company, valued at approximately $904,115.80. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.35% of the company’s stock.
Several equities analysts have weighed in on NI shares. KeyCorp restated a “buy” rating and set a $29.50 price objective on shares of NiSource in a research note on Friday, September 1st. Zacks Investment Research upgraded NiSource from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Tuesday, June 13th. Wells Fargo & Company started coverage on NiSource in a research note on Wednesday, August 9th. They set an “outperform” rating and a $30.00 price objective on the stock. Barclays PLC restated an “equal weight” rating and set a $26.00 price objective (up from $25.00) on shares of NiSource in a research note on Thursday, June 1st. Finally, Ladenburg Thalmann Financial Services started coverage on NiSource in a research note on Friday, May 19th. They set a “buy” rating and a $27.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $26.61.
Shares of NiSource, Inc (NI) opened at 27.23 on Tuesday. The stock’s 50 day moving average price is $26.64 and its 200-day moving average price is $25.16. The company has a market capitalization of $8.87 billion, a PE ratio of 31.59 and a beta of 0.39. NiSource, Inc has a 1-year low of $21.17 and a 1-year high of $27.25.
NiSource (NYSE:NI) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. NiSource had a return on equity of 9.17% and a net margin of 5.96%. The firm had revenue of $990.70 million for the quarter, compared to analysts’ expectations of $934.95 million. During the same period in the prior year, the firm posted $0.09 earnings per share. On average, equities analysts predict that NiSource, Inc will post $1.19 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Tuesday, October 31st will be paid a $0.175 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.57%. NiSource’s dividend payout ratio is currently 81.40%.
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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