Marshall Wace North America L.P. raised its stake in NiSource, Inc (NYSE:NI) by 304.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,287 shares of the utilities provider’s stock after acquiring an additional 107,142 shares during the period. Marshall Wace North America L.P.’s holdings in NiSource were worth $3,557,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NI. Retirement Systems of Alabama raised its holdings in NiSource by 2.2% in the 1st quarter. Retirement Systems of Alabama now owns 156,347 shares of the utilities provider’s stock valued at $3,719,000 after acquiring an additional 3,377 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its holdings in NiSource by 6.5% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 8,626 shares of the utilities provider’s stock valued at $192,000 after acquiring an additional 524 shares in the last quarter. ProShare Advisors LLC raised its holdings in NiSource by 2.4% in the 1st quarter. ProShare Advisors LLC now owns 96,344 shares of the utilities provider’s stock valued at $2,292,000 after acquiring an additional 2,266 shares in the last quarter. Strs Ohio raised its holdings in NiSource by 9.0% in the 1st quarter. Strs Ohio now owns 46,743 shares of the utilities provider’s stock valued at $1,112,000 after acquiring an additional 3,846 shares in the last quarter. Finally, Wetherby Asset Management Inc. acquired a new position in NiSource in the 1st quarter valued at $206,000. 81.96% of the stock is owned by hedge funds and other institutional investors.
NiSource, Inc (NI) traded up 0.26% during trading on Friday, hitting $26.99. The stock had a trading volume of 3,532,635 shares. The stock has a market capitalization of $8.80 billion, a P/E ratio of 31.31 and a beta of 0.39. The company has a 50-day moving average of $26.72 and a 200-day moving average of $25.24. NiSource, Inc has a 52 week low of $21.17 and a 52 week high of $27.29.
NiSource (NYSE:NI) last posted its quarterly earnings data 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 company had revenue of $990.70 million during the quarter, compared to analyst estimates of $934.95 million. NiSource had a return on equity of 9.17% and a net margin of 5.96%. During the same quarter last year, the company earned $0.09 earnings per share. On average, equities analysts expect that NiSource, Inc will post $1.19 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Tuesday, October 31st will be paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Monday, October 30th. NiSource’s dividend payout ratio is 81.40%.
Several equities analysts have weighed in on the company. KeyCorp reaffirmed a “buy” rating and issued a $29.50 price objective on shares of NiSource in a report on Friday, September 1st. Credit Suisse Group raised NiSource from an “underperform” rating to an “outperform” rating and lifted their price objective for the company from $25.00 to $29.00 in a report on Monday, August 14th. Wells Fargo & Company assumed coverage on NiSource in a report on Wednesday, August 9th. They issued an “outperform” rating and a $30.00 price objective for the company. Barclays PLC reaffirmed an “equal weight” rating and issued a $26.00 price objective (up from $25.00) on shares of NiSource in a report on Thursday, June 1st. Finally, Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Thursday, June 1st. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. NiSource has an average rating of “Buy” and an average price target of $26.61.
In other NiSource news, Director Michael E. Jesanis acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average price of $26.44 per share, with a total value of $52,880.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is currently owned by company 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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