NiSource, Inc (NYSE:NI) Shares Sold by Texas Permanent School Fund
Texas Permanent School Fund decreased its stake in shares of NiSource, Inc (NYSE:NI) by 3.8% during the second quarter, Holdings Channel reports. The firm owned 90,880 shares of the utilities provider’s stock after selling 3,626 shares during the period. Texas Permanent School Fund’s holdings in NiSource were worth $2,305,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. CIBC Asset Management Inc boosted its position in NiSource by 0.4% in the second quarter. CIBC Asset Management Inc now owns 30,131 shares of the utilities provider’s stock valued at $764,000 after buying an additional 124 shares during the period. Rothschild Asset Management Inc. acquired a new position in NiSource during the second quarter valued at about $525,000. Bbva Compass Bancshares Inc. acquired a new position in NiSource during the second quarter valued at about $338,000. Alpha Cubed Investments LLC acquired a new position in NiSource during the second quarter valued at about $234,000. Finally, Janney Montgomery Scott LLC boosted its position in NiSource by 1.4% in the second quarter. Janney Montgomery Scott LLC now owns 42,043 shares of the utilities provider’s stock valued at $1,066,000 after buying an additional 599 shares during the period. 82.87% of the stock is currently owned by hedge funds and other institutional investors.
NiSource, Inc (NYSE:NI) opened at 26.38 on Thursday. The company has a market capitalization of $8.59 billion, a P/E ratio of 24.11 and a beta of 0.37. NiSource, Inc has a one year low of $21.17 and a one year high of $26.69. The stock’s 50 day moving average price is $25.86 and its 200-day moving average price is $24.45.
NiSource (NYSE:NI) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. NiSource had a return on equity of 9.17% and a net margin of 5.96%. The firm had revenue of $990.70 million for the quarter, compared to the consensus estimate of $934.95 million. During the same period in the previous year, the business earned $0.09 EPS. Equities analysts forecast that NiSource, Inc will post $1.19 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Tuesday, October 31st will be paid a dividend of $0.175 per share. The ex-dividend date is Monday, October 30th. This represents a $0.70 annualized dividend and a yield of 2.65%. NiSource’s dividend payout ratio (DPR) is 81.40%.
Several equities analysts have recently issued reports on the company. Wells Fargo & Company initiated coverage on NiSource in a research note on Wednesday. They set an “outperform” rating and a $30.00 target price on the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $23.00 price target on shares of NiSource in a research note on Friday, July 14th. Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Friday, July 14th. Barclays PLC reaffirmed an “equal weight” rating and issued a $26.00 price target (up from $25.00) on shares of NiSource in a research note on Thursday, June 1st. Finally, Zelman & Associates cut NiSource from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. NiSource has an average rating of “Hold” and an average price target of $25.89.
In other NiSource news, EVP Violet Sistovaris sold 38,550 shares of NiSource stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $24.25, for a total transaction of $934,837.50. Following the completion of the sale, the executive vice president now owns 185,186 shares of the company’s stock, valued at approximately $4,490,760.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Donald Eugene Brown sold 6,906 shares of NiSource stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $25.51, for a total value of $176,172.06. Following the sale, the chief financial officer now directly owns 141,168 shares of the company’s stock, valued at approximately $3,601,195.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,656 shares of company stock worth $1,291,874. 0.32% of the stock is owned by company insiders.
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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