NiSource, Inc (NYSE:NI) Position Lowered by Tdam USA Inc.
Tdam USA Inc. reduced its position in shares of NiSource, Inc (NYSE:NI) by 16.1% during the second quarter, Holdings Channel reports. The institutional investor owned 17,216 shares of the utilities provider’s stock after selling 3,310 shares during the period. Tdam USA Inc.’s holdings in NiSource were worth $437,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Advisory Services Network LLC acquired a new position in shares of NiSource during the first quarter worth about $108,000. First Financial Corp IN acquired a new position in shares of NiSource during the first quarter worth about $124,000. 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 worth $144,000 after buying an additional 27 shares in the last quarter. 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 worth $148,000 after buying an additional 4,785 shares in the last quarter. Finally, LSV Asset Management acquired a new position in shares of NiSource during the first quarter worth about $159,000. 82.87% of the stock is currently owned by institutional investors.
Shares of NiSource, Inc (NI) opened at 26.38 on Thursday. NiSource, Inc has a 12 month low of $21.17 and a 12 month high of $26.69. The company has a market capitalization of $8.59 billion, a price-to-earnings ratio of 24.11 and a beta of 0.37. The company has a 50-day moving average price of $25.86 and a 200-day moving average price of $24.45.
NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.10 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. NiSource had a net margin of 5.96% and a return on equity of 9.17%. The business had revenue of $990.70 million during the quarter, compared to analyst estimates of $934.95 million. During the same period last year, the business posted $0.09 earnings per share. On average, equities analysts anticipate that NiSource, Inc will post $1.19 EPS 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 issued a $0.175 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.70 annualized dividend and a yield of 2.65%. NiSource’s dividend payout ratio (DPR) is presently 81.40%.
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NI has been the topic of a number of recent analyst reports. Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Friday, July 14th. Ladenburg Thalmann Financial Services initiated coverage on NiSource in a research note on Friday, May 19th. They issued a “buy” rating and a $27.00 price objective on the stock. Barclays PLC reissued an “equal weight” rating and issued a $26.00 price objective (up from $25.00) on shares of NiSource in a research note on Thursday, June 1st. Zelman & Associates downgraded NiSource from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $23.00 price objective on shares of NiSource in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. NiSource has an average rating of “Hold” and an average target price of $25.89.
In other NiSource news, EVP Violet Sistovaris sold 38,550 shares of the firm’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $24.25, for a total value of $934,837.50. Following the completion of the sale, the executive vice president now directly owns 185,186 shares in the company, valued at $4,490,760.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $25.51, for a total transaction 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. Insiders sold 52,656 shares of company stock valued at $1,291,874 over the last 90 days. 0.32% of the stock is currently 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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