Zimmer Partners LP Sells 1,999,900 Shares of NiSource Inc. (NI)
Zimmer Partners LP trimmed its holdings in NiSource Inc. (NYSE:NI) by 19.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,497,200 shares of the utilities provider’s stock after selling 1,999,900 shares during the quarter. NiSource makes up about 5.3% of Zimmer Partners LP’s holdings, making the stock its 4th largest position. Zimmer Partners LP’s holdings in NiSource were worth $218,123,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of NiSource by 4.6% during the fourth quarter. BlackRock Inc. now owns 24,779,376 shares of the utilities provider’s stock worth $636,086,000 after acquiring an additional 1,093,752 shares in the last quarter. Millennium Management LLC increased its position in NiSource by 38.6% during the 4th quarter. Millennium Management LLC now owns 3,591,733 shares of the utilities provider’s stock valued at $92,200,000 after purchasing an additional 999,678 shares during the period. Geode Capital Management LLC increased its position in NiSource by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 3,561,143 shares of the utilities provider’s stock valued at $91,226,000 after purchasing an additional 234,175 shares during the period. Maple Brown Abbott Ltd increased its position in NiSource by 36.9% during the 4th quarter. Maple Brown Abbott Ltd now owns 3,451,218 shares of the utilities provider’s stock valued at $88,593,000 after purchasing an additional 930,314 shares during the period. Finally, Commonwealth Bank of Australia increased its position in NiSource by 3.1% during the 3rd quarter. Commonwealth Bank of Australia now owns 3,350,014 shares of the utilities provider’s stock valued at $85,422,000 after purchasing an additional 102,242 shares during the period. Institutional investors own 86.97% of the company’s stock.
A number of analysts have recently commented on the stock. Zacks Investment Research cut shares of NiSource from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. JPMorgan Chase & Co. dropped their target price on shares of NiSource from $28.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. Edward Jones upgraded shares of NiSource from a “hold” rating to a “buy” rating in a research note on Tuesday, January 9th. Guggenheim reiterated a “buy” rating and issued a $27.00 price target on shares of NiSource in a research note on Friday, February 23rd. Finally, Goldman Sachs Group upgraded shares of NiSource from a “neutral” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Wednesday, January 10th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. NiSource presently has an average rating of “Buy” and a consensus target price of $27.41.
NiSource (NYSE:NI) last issued its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. NiSource had a return on equity of 8.90% and a net margin of 2.64%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the company earned $0.33 earnings per share. analysts forecast that NiSource Inc. will post 1.29 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Friday, February 9th were given a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 3.34%. This is a boost from NiSource’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, February 8th. NiSource’s payout ratio is presently 200.01%.
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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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