ARGI Investment Services LLC Acquires New Stake in NiSource, Inc (NI)
ARGI Investment Services LLC acquired a new stake in shares of NiSource, Inc (NYSE:NI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,210 shares of the utilities provider’s stock, valued at approximately $868,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its position in NiSource by 2,428.6% in the first quarter. BlackRock Inc. now owns 23,705,566 shares of the utilities provider’s stock valued at $563,954,000 after buying an additional 22,768,084 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of NiSource by 70.3% in the first quarter. JPMorgan Chase & Co. now owns 17,428,785 shares of the utilities provider’s stock worth $414,632,000 after buying an additional 7,194,018 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in shares of NiSource by 218.4% in the first quarter. Neuberger Berman Group LLC now owns 2,319,929 shares of the utilities provider’s stock worth $55,191,000 after buying an additional 1,591,281 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of NiSource by 281.9% in the first quarter. Prudential Financial Inc. now owns 1,727,593 shares of the utilities provider’s stock worth $41,099,000 after buying an additional 1,275,260 shares during the last quarter. Finally, Maple Brown Abbott Ltd boosted its stake in shares of NiSource by 69.2% in the second quarter. Maple Brown Abbott Ltd now owns 2,776,704 shares of the utilities provider’s stock worth $70,417,000 after buying an additional 1,135,300 shares during the last quarter. Institutional investors and hedge funds own 81.94% of the company’s stock.
NiSource, Inc (NYSE NI) traded up 0.22% during trading on Thursday, reaching $26.97. 98,671 shares of the company were exchanged. NiSource, Inc has a 52-week low of $21.17 and a 52-week high of $27.22. The firm has a market cap of $8.79 billion, a price-to-earnings ratio of 31.29 and a beta of 0.37. The firm has a 50-day moving average of $26.24 and a 200-day moving average of $24.83.
NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.10 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. NiSource had a return on equity of 9.17% and a net margin of 5.96%. The company had revenue of $990.70 million during the quarter, compared to analyst estimates of $934.95 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. On average, equities analysts forecast that NiSource, Inc will post $1.19 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Tuesday, October 31st will be issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Monday, October 30th. NiSource’s payout ratio is 81.40%.
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A number of analysts recently weighed in on the stock. Credit Suisse Group upgraded shares of NiSource from an “underperform” rating to an “outperform” rating and raised their target price for the stock from $25.00 to $29.00 in a report on Monday, August 14th. Wells Fargo & Company assumed coverage on shares of NiSource in a report on Wednesday, August 9th. They set an “outperform” rating and a $30.00 target price for the company. Jefferies Group LLC restated a “hold” rating and set a $23.00 target price on shares of NiSource in a report on Friday, July 14th. Zacks Investment Research upgraded shares of NiSource from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a report on Friday, July 14th. Finally, Barclays PLC restated an “equal weight” rating and set a $26.00 target price (up from $25.00) on shares of NiSource in a report on Thursday, June 1st. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. NiSource currently has a consensus rating of “Buy” and a consensus price target of $26.33.
In other NiSource news, Director Michael E. Jesanis acquired 2,000 shares of the business’s stock in a transaction dated 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 acquisition, the director now owns 34,195 shares of the company’s stock, valued at $904,115.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is currently owned by insiders.
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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