Stevens Capital Management LP Sells 31,661 Shares of NiSource, Inc (NI)
Stevens Capital Management LP reduced its stake in NiSource, Inc (NYSE:NI) by 17.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 154,079 shares of the utilities provider’s stock after selling 31,661 shares during the quarter. Stevens Capital Management LP’s holdings in NiSource were worth $3,907,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Amalgamated Bank lifted its position in shares of NiSource by 61.6% in the second quarter. Amalgamated Bank now owns 36,538 shares of the utilities provider’s stock valued at $927,000 after acquiring an additional 13,932 shares in the last quarter. TCI Wealth Advisors Inc. lifted its position in shares of NiSource by 0.4% in the second quarter. TCI Wealth Advisors Inc. now owns 6,078 shares of the utilities provider’s stock valued at $154,000 after acquiring an additional 24 shares in the last quarter. Norinchukin Bank The lifted its position in shares of NiSource by 6.8% in the second quarter. Norinchukin Bank The now owns 22,446 shares of the utilities provider’s stock valued at $569,000 after acquiring an additional 1,427 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of NiSource by 349.2% in the second quarter. Ameriprise Financial Inc. now owns 1,981,096 shares of the utilities provider’s stock valued at $50,247,000 after acquiring an additional 1,540,050 shares in the last quarter. Finally, TIAA CREF Investment Management LLC lifted its position in shares of NiSource by 6.4% in the second quarter. TIAA CREF Investment Management LLC now owns 977,515 shares of the utilities provider’s stock valued at $24,790,000 after acquiring an additional 58,850 shares in the last quarter. Institutional investors and hedge funds own 81.96% of the company’s stock.
NI has been the topic of several recent research reports. 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 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. Jefferies Group LLC reiterated a “hold” rating and set a $23.00 target price on shares of NiSource in a research report on Friday, July 14th. Barclays PLC reiterated an “equal weight” rating and set a $26.00 target price (up from $25.00) on shares of NiSource in a research report on Thursday, June 1st. Finally, Credit Suisse Group upgraded NiSource from an “underperform” rating to an “outperform” rating and increased their target price for the stock from $25.00 to $29.00 in a research report on Monday, August 14th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $26.61.
In other news, Director Michael E. Jesanis acquired 2,000 shares of NiSource stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average price of $26.44 per share, with a total value of $52,880.00. Following the completion of the transaction, the director now owns 34,195 shares in the company, valued at $904,115.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.35% of the stock is currently owned by company insiders.
NiSource, Inc (NYSE NI) opened at 26.58 on Tuesday. The company’s 50-day moving average price is $26.74 and its 200 day moving average price is $25.28. NiSource, Inc has a 52-week low of $21.17 and a 52-week high of $27.29. The stock has a market capitalization of $8.66 billion, a P/E ratio of 30.84 and a beta of 0.39.
NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share 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 for the quarter, compared to the consensus estimate of $934.95 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. On average, equities research analysts anticipate that NiSource, Inc will post $1.19 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Tuesday, October 31st will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.70 dividend on an annualized basis and a yield of 2.64%. NiSource’s payout ratio is 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.
Want to see what other hedge funds are holding NI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NiSource, Inc (NYSE:NI).
Receive News & Stock Ratings for NiSource Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NiSource Inc and related stocks with our FREE daily email newsletter.