NiSource, Inc (NI) Stake Lowered by New York State Common Retirement Fund
New York State Common Retirement Fund lowered its position in shares of NiSource, Inc (NYSE:NI) by 18.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 670,500 shares of the utilities provider’s stock after selling 151,901 shares during the period. New York State Common Retirement Fund owned approximately 0.21% of NiSource worth $17,004,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. lifted its position in NiSource by 2,428.6% in the 1st quarter. BlackRock Inc. now owns 23,705,566 shares of the utilities provider’s stock valued at $563,954,000 after acquiring an additional 22,768,084 shares in the last quarter. Alliancebernstein L.P. boosted its stake in NiSource by 32.8% during the 2nd quarter. Alliancebernstein L.P. now owns 10,831,595 shares of the utilities provider’s stock valued at $274,689,000 after purchasing an additional 2,675,042 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in NiSource by 349.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,981,096 shares of the utilities provider’s stock valued at $50,247,000 after purchasing an additional 1,540,050 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in NiSource by 59.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 3,707,119 shares of the utilities provider’s stock valued at $94,013,000 after purchasing an additional 1,387,190 shares during the last quarter. Finally, Schroder Investment Management Group purchased a new stake in NiSource during the 2nd quarter valued at $35,129,000. 81.96% of the stock is owned by institutional investors.
Shares of NiSource, Inc (NYSE:NI) opened at 25.59 on Monday. The company’s 50-day moving average is $26.75 and its 200 day moving average is $25.30. The company has a market capitalization of $8.34 billion, a price-to-earnings ratio of 29.69 and a beta of 0.37. NiSource, Inc has a 12 month low of $21.17 and a 12 month high of $27.29.
NiSource (NYSE:NI) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $990.70 million for 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 firm earned $0.09 EPS. On average, equities research analysts anticipate that NiSource, Inc will post $1.19 earnings per share for the current year.
The business also recently disclosed 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 is Monday, October 30th. This represents a $0.70 annualized dividend and a yield of 2.74%. NiSource’s dividend payout ratio is presently 81.40%.
NI has been the subject of several recent analyst reports. Zacks Investment Research cut NiSource from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. KeyCorp reaffirmed a “buy” rating and set a $29.50 price objective on shares of NiSource in a research report on Friday, September 1st. Credit Suisse Group upgraded NiSource from an “underperform” rating to an “outperform” rating and lifted their price objective for the stock from $25.00 to $29.00 in a report on Monday, August 14th. Wells Fargo & Company began coverage on NiSource in a research report on Wednesday, August 9th. They issued an “outperform” rating and a $30.00 target price for the company. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $23.00 target price on shares of NiSource in a research report on Friday, July 14th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. NiSource has an average rating of “Buy” and an average price target of $26.72.
In other news, Director Michael E. Jesanis bought 2,000 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was purchased at an average cost of $26.44 per share, with a total value of $52,880.00. Following the acquisition, the director now directly owns 34,195 shares in the company, valued at $904,115.80. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.35% of the stock is owned by company insiders.
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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