Louisiana State Employees Retirement System Has $510,000 Position in NiSource, Inc (NYSE:NI)
Louisiana State Employees Retirement System increased its position in shares of NiSource, Inc (NYSE:NI) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 20,100 shares of the utilities provider’s stock after buying an additional 200 shares during the period. Louisiana State Employees Retirement System’s holdings in NiSource were worth $510,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of NI. BlackRock Inc. raised its stake in NiSource by 2,428.6% in the first quarter. BlackRock Inc. now owns 23,705,566 shares of the utilities provider’s stock worth $563,954,000 after buying an additional 22,768,084 shares during the period. JPMorgan Chase & Co. raised its stake in 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 period. Neuberger Berman Group LLC raised its stake in 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 period. Prudential Financial Inc. raised its stake in 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 period. Finally, First Trust Advisors LP raised its stake in NiSource by 128.4% in the first quarter. First Trust Advisors LP now owns 1,677,231 shares of the utilities provider’s stock worth $39,901,000 after buying an additional 942,746 shares during the period. 82.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of NiSource, Inc (NYSE NI) traded down 0.27% during mid-day trading on Friday, hitting $26.30. The stock had a trading volume of 478,577 shares. NiSource, Inc has a 52 week low of $21.17 and a 52 week high of $26.69. The stock has a 50 day moving average of $25.87 and a 200-day moving average of $24.46. The stock has a market capitalization of $8.57 billion, a P/E ratio of 30.51 and a beta of 0.37.
NiSource (NYSE:NI) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 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 the consensus estimate of $934.95 million. NiSource had a return on equity of 9.17% and a net margin of 5.96%. During the same period last year, the business posted $0.09 EPS. On average, equities research analysts predict that NiSource, Inc will post $1.19 earnings per share for the current year.
The company also recently announced 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 annualized dividend and a dividend yield of 2.65%. NiSource’s dividend payout ratio is presently 81.40%.
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A number of research firms have issued reports on NI. Zacks Investment Research lowered NiSource from a “buy” rating to a “hold” rating in a report on Monday, June 12th. Wells Fargo & Company began coverage on NiSource in a report on Wednesday. They issued an “outperform” rating and a $30.00 target price on the stock. Barclays PLC reaffirmed an “equal weight” rating and issued a $26.00 target price (up previously from $25.00) on shares of NiSource in a report on Thursday, June 1st. Ladenburg Thalmann Financial Services began coverage on NiSource in a report on Friday, May 19th. They issued a “buy” rating and a $27.00 target price on the stock. Finally, Zelman & Associates lowered NiSource from a “buy” rating to a “hold” rating in a report on Tuesday, May 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $25.89.
In other news, EVP Pablo Vegas sold 7,200 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $25.12, for a total value of $180,864.00. Following the completion of the sale, the executive vice president now directly owns 94,885 shares in the company, valued at approximately $2,383,511.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Donald Eugene Brown sold 6,906 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $25.51, for a total value of $176,172.06. Following the completion of 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. Company insiders own 0.32% of the company’s stock.
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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