Dynamic Technology Lab Private Ltd Invests $209,000 in NiSource, Inc (NI)
Dynamic Technology Lab Private Ltd purchased a new position in NiSource, Inc (NYSE:NI) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 8,813 shares of the utilities provider’s stock, valued at approximately $209,000.
Other hedge funds also recently made changes to their positions in the company. 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 in the last quarter. Norges Bank bought a new stake in shares of NiSource during the fourth quarter worth $69,268,000. Renaissance Technologies LLC boosted its stake in shares of NiSource by 1,215.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,951,400 shares of the utilities provider’s stock worth $43,204,000 after buying an additional 1,803,000 shares in 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 in the last quarter. Finally, 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 in the last quarter. 82.39% of the stock is owned by institutional investors.
NiSource, Inc (NYSE:NI) opened at 26.06 on Friday. The firm has a 50-day moving average price of $25.14 and a 200 day moving average price of $23.45. The firm has a market cap of $8.46 billion, a PE ratio of 23.82 and a beta of 0.34. NiSource, Inc has a 12-month low of $21.17 and a 12-month high of $26.94.
NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, May 3rd. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.06. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.51 billion. NiSource had a net margin of 7.65% and a return on equity of 9.18%. During the same period last year, the business posted $0.62 earnings per share. Equities research analysts forecast that NiSource, Inc will post $1.18 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, July 31st will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.70 annualized dividend and a yield of 2.69%. NiSource’s dividend payout ratio (DPR) is presently 64.22%.
NI has been the subject of a number of analyst reports. Zacks Investment Research raised NiSource from a “sell” rating to a “hold” rating and set a $26.00 price target for the company in a research report on Friday, March 10th. Zelman & Associates cut NiSource from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. Ladenburg Thalmann Financial Services assumed coverage on NiSource in a research report on Friday, May 19th. They issued a “buy” rating and a $27.00 price target for the company. Barclays PLC reissued an “equal weight” rating and set a $26.00 price objective (up previously from $25.00) on shares of NiSource in a research report on Thursday, June 1st. Finally, Jefferies Group LLC reissued a “hold” rating and set a $23.00 price objective on shares of NiSource in a research report on Friday, March 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $25.68.
In other NiSource news, COO Jimmie L. Stanley sold 37,325 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $24.11, for a total transaction of $899,905.75. Following the completion of the sale, the chief operating officer now directly owns 315,471 shares in the company, valued at $7,606,005.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Donald Eugene Brown sold 6,906 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $25.51, for a total transaction of $176,172.06. Following the sale, the chief financial officer now owns 141,168 shares of the company’s stock, valued at $3,601,195.68. The disclosure for this sale can be found here. Insiders have sold 89,981 shares of company stock valued at $2,191,779 over the last 90 days. Company insiders own 0.32% of the company’s stock.
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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