NiSource, Inc (NI) Position Held by ELCO Management Co. LLC
ELCO Management Co. LLC maintained its stake in shares of NiSource, Inc (NYSE:NI) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,600 shares of the utilities provider’s stock at the end of the second quarter. ELCO Management Co. LLC’s holdings in NiSource were worth $320,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Marshall Wace North America L.P. increased its position in shares of NiSource by 304.9% during the second quarter. Marshall Wace North America L.P. now owns 142,287 shares of the utilities provider’s stock valued at $3,557,000 after acquiring an additional 107,142 shares during the last quarter. State of Wisconsin Investment Board raised its stake in shares of NiSource by 48.8% in the 2nd quarter. State of Wisconsin Investment Board now owns 205,446 shares of the utilities provider’s stock valued at $5,210,000 after acquiring an additional 67,360 shares during the period. Calamos Advisors LLC purchased a new stake in shares of NiSource in the 2nd quarter valued at approximately $4,326,000. Schroder Investment Management Group purchased a new stake in shares of NiSource in the 2nd quarter valued at approximately $35,129,000. Finally, GAM Holding AG lifted its holdings in shares of NiSource by 336.2% in the 2nd quarter. GAM Holding AG now owns 69,166 shares of the utilities provider’s stock worth $1,754,000 after acquiring an additional 53,311 shares during the last quarter. 81.96% of the stock is owned by institutional investors.
In other NiSource news, Director Michael E. Jesanis acquired 2,000 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was bought at an average price of $26.44 per share, with a total value of $52,880.00. Following the completion of the transaction, the director now directly owns 34,195 shares of the company’s stock, valued at $904,115.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.35% of the stock is owned by insiders.
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NiSource, Inc (NI) traded down 0.04% during midday trading on Wednesday, reaching $25.36. 298,840 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $26.55 and its 200 day moving average is $25.47. NiSource, Inc has a 52 week low of $21.17 and a 52 week high of $27.29. The firm has a market capitalization of $8.26 billion, a P/E ratio of 29.42 and a beta of 0.36.
NiSource (NYSE:NI) last posted its quarterly 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 firm had revenue of $990.70 million for the quarter, compared to analyst estimates of $934.95 million. NiSource had a net margin of 5.96% and a return on equity of 9.17%. During the same quarter last year, the firm posted $0.09 earnings per share. On average, analysts expect that NiSource, Inc will post $1.19 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Tuesday, October 31st will be paid a dividend of $0.175 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.70 annualized dividend and a yield of 2.76%. NiSource’s dividend payout ratio is currently 81.40%.
A number of research firms recently weighed in on NI. Jefferies Group LLC reaffirmed a “hold” rating and set a $23.00 price objective on shares of NiSource in a research report on Friday, July 14th. Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Friday, September 22nd. Credit Suisse Group raised NiSource from an “underperform” rating to an “outperform” rating and boosted their target price for the company from $25.00 to $29.00 in a research report on Monday, August 14th. KeyCorp restated a “buy” rating and set a $29.50 price target on shares of NiSource in a research note on Friday, September 1st. Finally, Wells Fargo & Company began coverage on NiSource in a research note on Wednesday, August 9th. They set an “outperform” rating and a $30.00 price target on the stock. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. NiSource has a consensus rating of “Buy” and an average price target of $26.72.
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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