Veritable L.P. Boosts Holdings in NiSource, Inc (NI)
Veritable L.P. raised its stake in NiSource, Inc (NYSE:NI) by 5.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,763 shares of the utilities provider’s stock after buying an additional 566 shares during the period. Veritable L.P.’s holdings in NiSource were worth $273,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of NI. CENTRAL TRUST Co increased its holdings in shares of NiSource by 454.0% in the second quarter. CENTRAL TRUST Co now owns 5,839 shares of the utilities provider’s stock valued at $148,000 after buying an additional 4,785 shares in the last quarter. TCI Wealth Advisors Inc. increased its holdings 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 buying an additional 24 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of NiSource in the first quarter valued at $183,000. Laurion Capital Management LP bought a new position in shares of NiSource in the first quarter valued at $202,000. Finally, Conning Inc. bought a new position in shares of NiSource in the second quarter valued at $206,000. 81.96% of the stock is currently owned by institutional investors.
NiSource, Inc (NYSE:NI) opened at 25.72 on Friday. The stock has a market capitalization of $8.38 billion, a PE ratio of 29.84 and a beta of 0.36. NiSource, Inc has a 12-month low of $21.17 and a 12-month high of $27.29. The stock’s 50 day moving average is $26.49 and its 200 day moving average is $25.47.
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 consensus estimate of $0.10. NiSource had a net margin of 5.96% and a return on equity of 9.17%. The firm had revenue of $990.70 million for the quarter, compared to analyst estimates of $934.95 million. During the same period in the previous year, the business earned $0.09 EPS. Analysts forecast 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 paid a $0.175 dividend. The ex-dividend date is Monday, October 30th. This represents a $0.70 annualized dividend and a yield of 2.72%. NiSource’s payout ratio is currently 81.40%.
Several research analysts have issued reports on NI shares. Jefferies Group LLC reaffirmed a “hold” rating and issued a $23.00 price target on shares of NiSource in a report on Friday, July 14th. Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a report on Friday, September 22nd. Credit Suisse Group AG raised shares of NiSource from an “underperform” rating to an “outperform” rating and boosted their target price for the company from $25.00 to $29.00 in a research note on Monday, August 14th. KeyCorp reissued a “buy” rating and set a $29.50 target price on shares of NiSource in a research note on Friday, September 1st. Finally, Wells Fargo & Company assumed coverage on shares of NiSource in a research note on Wednesday, August 9th. They set an “outperform” rating and a $30.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. NiSource presently has a consensus rating of “Buy” and a consensus target price of $26.72.
In other NiSource news, Director Michael E. Jesanis purchased 2,000 shares of the stock in a transaction on Monday, August 14th. The shares were purchased at an average cost of $26.44 per share, for a total transaction of $52,880.00. Following the purchase, the director now owns 34,195 shares of the company’s stock, valued at $904,115.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by insiders.
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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