NiSource, Inc (NI) Shares Bought by 361 Capital LLC
361 Capital LLC lifted its position in NiSource, Inc (NYSE:NI) by 100.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 67,332 shares of the utilities provider’s stock after buying an additional 33,666 shares during the quarter. 361 Capital LLC’s holdings in NiSource were worth $1,708,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in NiSource by 2,428.6% during the 1st quarter. BlackRock Inc. now owns 23,705,566 shares of the utilities provider’s stock worth $563,954,000 after purchasing an additional 22,768,084 shares during the period. Alliancebernstein L.P. increased its holdings in NiSource by 32.8% during the 2nd quarter. Alliancebernstein L.P. now owns 10,831,595 shares of the utilities provider’s stock worth $274,689,000 after purchasing an additional 2,675,042 shares during the period. Ameriprise Financial Inc. increased its holdings in NiSource by 349.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,981,096 shares of the utilities provider’s stock worth $50,247,000 after purchasing an additional 1,540,050 shares during the period. Neuberger Berman Group LLC increased its holdings in NiSource by 59.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 3,707,119 shares of the utilities provider’s stock worth $94,013,000 after purchasing an additional 1,387,190 shares during the period. Finally, Schroder Investment Management Group purchased a new stake in NiSource during the 2nd quarter worth about $35,129,000. Hedge funds and other institutional investors own 81.96% of the company’s stock.
NI has been the topic of several recent research reports. Zacks Investment Research downgraded NiSource from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Jefferies Group LLC restated a “hold” rating and set a $23.00 price target on shares of NiSource in a report on Friday, July 14th. Wells Fargo & Company initiated coverage on NiSource in a report on Wednesday, August 9th. They set an “outperform” rating and a $30.00 price target on the stock. Credit Suisse Group upgraded NiSource from an “underperform” rating to an “outperform” rating and upped their price target for the stock from $25.00 to $29.00 in a report on Monday, August 14th. Finally, KeyCorp restated a “buy” rating and set a $29.50 price target on shares of NiSource in a report on Friday, September 1st. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $26.72.
In other NiSource news, Director Michael E. Jesanis bought 2,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were acquired at an average cost 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 available through this hyperlink. 0.35% of the stock is currently owned by insiders.
NiSource, Inc (NYSE NI) traded up 0.019% on Wednesday, hitting $26.355. The stock had a trading volume of 436,497 shares. The company’s 50 day moving average is $26.42 and its 200 day moving average is $25.55. The firm has a market cap of $8.59 billion, a PE ratio of 30.645 and a beta of 0.36. NiSource, Inc has a 12-month low of $21.17 and a 12-month high of $27.29.
NiSource (NYSE:NI) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate 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 analyst estimates of $934.95 million. During the same period in the previous year, the company earned $0.09 earnings per share. On average, equities research analysts expect that NiSource, Inc will post $1.19 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Monday, October 30th. 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.
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