Insider Buying: NiSource, Inc (NI) Director Purchases 2,000 Shares of Stock
NiSource, Inc (NYSE:NI) Director Michael E. Jesanis purchased 2,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were bought at an average price of $26.44 per share, with a total value of $52,880.00. Following the purchase, the director now owns 34,195 shares in the company, valued at $904,115.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
NiSource, Inc (NYSE:NI) traded up 0.08% on Tuesday, reaching $26.66. 1,537,483 shares of the company were exchanged. NiSource, Inc has a 12-month low of $21.17 and a 12-month high of $26.78. The firm has a 50-day moving average of $25.90 and a 200 day moving average of $24.56. The firm has a market capitalization of $8.69 billion, a P/E ratio of 30.93 and a beta of 0.37.
NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.10. The firm had revenue of $990.70 million during the quarter, compared to analysts’ expectations of $934.95 million. NiSource had a net margin of 5.96% and a return on equity of 9.17%. During the same period in the prior year, the company posted $0.09 earnings per share. On average, equities analysts predict that NiSource, Inc will post $1.19 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Tuesday, October 31st will be paid a $0.175 dividend. The ex-dividend date is Monday, October 30th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.63%. NiSource’s dividend payout ratio (DPR) is presently 81.40%.
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A number of research analysts recently weighed in on NI shares. Zacks Investment Research lowered shares of NiSource from a “buy” rating to a “hold” rating in a research note on Wednesday, May 31st. Credit Suisse Group AG upgraded shares of 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 research note on Monday. Jefferies Group LLC reiterated a “hold” rating and issued a $23.00 price objective on shares of NiSource in a research note on Friday, July 14th. Zelman & Associates lowered shares of NiSource from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. Finally, Ladenburg Thalmann Financial Services started coverage on shares of NiSource in a research note on Friday, May 19th. They issued a “buy” rating and a $27.00 price objective for the company. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $26.33.
Hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new stake in shares of NiSource during the first quarter worth about $453,000. Canada Pension Plan Investment Board boosted its stake in shares of NiSource by 93.3% in the first quarter. Canada Pension Plan Investment Board now owns 921,206 shares of the utilities provider’s stock worth $21,915,000 after buying an additional 444,700 shares during the period. Commerce Bank boosted its stake in shares of NiSource by 8.3% in the first quarter. Commerce Bank now owns 10,904 shares of the utilities provider’s stock worth $259,000 after buying an additional 838 shares during the period. Arizona State Retirement System boosted its stake in shares of NiSource by 0.4% in the first quarter. Arizona State Retirement System now owns 80,090 shares of the utilities provider’s stock worth $1,905,000 after buying an additional 300 shares during the period. Finally, Private Trust Co. NA purchased a new stake in shares of NiSource during the first quarter worth about $252,000. 82.21% of the stock is owned by hedge funds and other institutional investors.
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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