Maple Brown Abbott Ltd Has $70.42 Million Position in NiSource, Inc (NI)
Maple Brown Abbott Ltd raised its stake in shares of NiSource, Inc (NYSE:NI) by 69.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,776,704 shares of the utilities provider’s stock after buying an additional 1,135,300 shares during the period. NiSource comprises 7.3% of Maple Brown Abbott Ltd’s portfolio, making the stock its 6th largest position. Maple Brown Abbott Ltd’s holdings in NiSource were worth $70,417,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Advisory Services Network LLC acquired a new position in shares of NiSource during the first quarter valued at $108,000. First Financial Corp IN acquired a new position in shares of NiSource during the first quarter valued at $124,000. CENTRAL TRUST Co increased its position in shares of NiSource by 454.0% in the second quarter. CENTRAL TRUST Co now owns 5,839 shares of the utilities provider’s stock valued at $148,000 after buying an additional 4,785 shares during the period. TCI Wealth Advisors Inc. increased its position in shares of NiSource by 0.4% in the first quarter. TCI Wealth Advisors Inc. now owns 6,054 shares of the utilities provider’s stock valued at $144,000 after buying an additional 27 shares during the period. Finally, LSV Asset Management acquired a new position in shares of NiSource during the first quarter valued at $159,000. Institutional investors own 82.87% of the company’s stock.
Shares of NiSource, Inc (NI) opened at 26.38 on Thursday. The stock has a market capitalization of $8.60 billion, a PE ratio of 30.60 and a beta of 0.37. The stock’s 50 day moving average is $25.86 and its 200 day moving average is $24.45. NiSource, Inc has a 52 week low of $21.17 and a 52 week high of $26.69.
NiSource (NYSE:NI) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. NiSource had a net margin of 5.96% and a return on equity of 9.17%. The company had revenue of $990.70 million during the quarter, compared to the consensus estimate of $934.95 million. During the same quarter in the prior year, the firm earned $0.09 EPS. Analysts anticipate that NiSource, Inc will post $1.19 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Tuesday, October 31st will be given a $0.175 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.70 dividend on an annualized basis and a yield of 2.65%. NiSource’s payout ratio is 81.40%.
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Several brokerages have weighed in on NI. Wells Fargo & Company started coverage on NiSource in a report on Wednesday. They issued an “outperform” rating and a $30.00 price target for the company. Zacks Investment Research raised shares of NiSource from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Friday, July 14th. Jefferies Group LLC reissued a “hold” rating and set a $23.00 price objective on shares of NiSource in a research note on Friday, July 14th. Barclays PLC reissued an “equal weight” rating and set a $26.00 price objective (up from $25.00) on shares of NiSource in a research note on Thursday, June 1st. Finally, Ladenburg Thalmann Financial Services started coverage on shares of NiSource in a research note on Friday, May 19th. They set a “buy” rating and a $27.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. NiSource currently has an average rating of “Hold” and a consensus price target of $25.89.
In other news, CFO Donald Eugene Brown sold 6,906 shares of the stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $25.51, for a total transaction of $176,172.06. Following the transaction, the chief financial officer now owns 141,168 shares in the company, valued at approximately $3,601,195.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Pablo Vegas sold 7,200 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $25.12, for a total transaction of $180,864.00. Following the transaction, the executive vice president now owns 94,885 shares in the company, valued at approximately $2,383,511.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,656 shares of company stock valued at $1,291,874. 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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