J. Safra Sarasin Holding AG Has $2.73 Million Stock Holdings in NiSource, Inc $NI

J. Safra Sarasin Holding AG trimmed its holdings in shares of NiSource, Inc (NYSE:NIFree Report) by 6.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,557 shares of the utilities provider’s stock after selling 4,831 shares during the period. J. Safra Sarasin Holding AG’s holdings in NiSource were worth $2,725,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of NI. Vanguard Group Inc. increased its holdings in shares of NiSource by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 60,844,001 shares of the utilities provider’s stock valued at $2,439,236,000 after purchasing an additional 3,050,420 shares during the period. T. Rowe Price Investment Management Inc. grew its position in NiSource by 12.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 24,020,859 shares of the utilities provider’s stock valued at $962,997,000 after purchasing an additional 2,650,827 shares in the last quarter. Jennison Associates LLC increased its stake in NiSource by 8.0% in the 1st quarter. Jennison Associates LLC now owns 11,577,832 shares of the utilities provider’s stock valued at $464,155,000 after buying an additional 857,653 shares during the period. Goldman Sachs Group Inc. lifted its position in NiSource by 88.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,535,924 shares of the utilities provider’s stock worth $221,935,000 after buying an additional 2,605,923 shares in the last quarter. Finally, Northern Trust Corp lifted its position in NiSource by 4.7% in the 1st quarter. Northern Trust Corp now owns 4,638,973 shares of the utilities provider’s stock worth $185,976,000 after buying an additional 206,448 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Barclays reaffirmed an “overweight” rating and issued a $44.00 price target (up from $42.00) on shares of NiSource in a research note on Monday, August 4th. Jefferies Financial Group lowered NiSource from a “buy” rating to a “hold” rating and dropped their target price for the stock from $48.00 to $44.00 in a research report on Friday, September 5th. Zacks Research raised NiSource to a “hold” rating in a research note on Monday, August 11th. Wall Street Zen cut NiSource from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, BMO Capital Markets raised their price objective on shares of NiSource from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.38.

Read Our Latest Report on NI

NiSource Price Performance

Shares of NiSource stock opened at $43.06 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.48 and a debt-to-equity ratio of 1.32. The firm has a fifty day simple moving average of $41.87 and a 200-day simple moving average of $40.26. The stock has a market capitalization of $20.27 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 2.91 and a beta of 0.60. NiSource, Inc has a 1-year low of $33.65 and a 1-year high of $43.71.

NiSource (NYSE:NIGet Free Report) last released its earnings results on Wednesday, August 6th. The utilities provider reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. NiSource had a net margin of 14.46% and a return on equity of 8.25%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the business earned $0.21 EPS. On average, sell-side analysts expect that NiSource, Inc will post 1.91 earnings per share for the current year.

NiSource Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Friday, October 31st will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.12 dividend on an annualized basis and a yield of 2.6%. NiSource’s dividend payout ratio (DPR) is 59.57%.

About NiSource

(Free Report)

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.

Further Reading

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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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