California State Teachers Retirement System Reduces Holdings in NiSource, Inc (NI)
California State Teachers Retirement System cut its holdings in NiSource, Inc (NYSE:NI) by 9.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 598,761 shares of the utilities provider’s stock after selling 61,139 shares during the quarter. California State Teachers Retirement System owned about 0.18% of NiSource worth $15,184,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Raymond James Financial Services Advisors Inc. raised its holdings in NiSource by 2.8% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 11,287 shares of the utilities provider’s stock worth $286,000 after buying an additional 310 shares during the period. 361 Capital LLC increased its holdings in shares of NiSource by 100.0% in the 2nd quarter. 361 Capital LLC now owns 67,332 shares of the utilities provider’s stock valued at $1,708,000 after purchasing an additional 33,666 shares during the period. Gotham Asset Management LLC increased its holdings in shares of NiSource by 328.1% in the 2nd quarter. Gotham Asset Management LLC now owns 47,196 shares of the utilities provider’s stock valued at $1,197,000 after purchasing an additional 36,172 shares during the period. Peapack Gladstone Financial Corp acquired a new position in shares of NiSource in the 2nd quarter valued at about $202,000. Finally, Janus Henderson Group PLC increased its holdings in shares of NiSource by 494.6% in the 2nd quarter. Janus Henderson Group PLC now owns 309,412 shares of the utilities provider’s stock valued at $7,847,000 after purchasing an additional 257,374 shares during the period. Hedge funds and other institutional investors own 81.94% of the company’s stock.
In related news, Director Michael E. Jesanis acquired 2,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was purchased at an average cost of $26.44 per share, with a total value of $52,880.00. Following the acquisition, the director now directly owns 34,195 shares of the company’s stock, valued at $904,115.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.35% of the company’s stock.
A number of equities analysts have recently weighed in on NI shares. KeyCorp reiterated a “buy” rating and issued a $29.50 target price on shares of NiSource in a report on Friday, September 1st. Zacks Investment Research upgraded NiSource from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Friday, September 22nd. Wells Fargo & Company started coverage on NiSource in a report on Wednesday, August 9th. They issued an “outperform” rating and a $30.00 target price on the stock. J P Morgan Chase & Co upped their target price on NiSource from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, October 12th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $23.00 target price on shares of NiSource in a report on Friday, July 14th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $26.75.
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Shares of NiSource, Inc (NI) opened at 26.43 on Thursday. The stock has a 50 day moving average price of $26.33 and a 200 day moving average price of $25.65. NiSource, Inc has a 52-week low of $21.17 and a 52-week high of $27.29. The company has a market capitalization of $8.61 billion, a PE ratio of 30.66 and a beta of 0.36.
NiSource (NYSE:NI) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.10. The business had revenue of $990.70 million during the quarter, compared to the consensus estimate of $934.95 million. NiSource had a return on equity of 9.17% and a net margin of 5.96%. During the same period in the previous year, the company posted $0.09 EPS. On average, analysts predict that NiSource, Inc will post $1.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors 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 annualized dividend and a yield of 2.65%. NiSource’s dividend payout ratio (DPR) is presently 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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