Profund Advisors LLC Has $861,000 Stake in NiSource, Inc (NI)
Profund Advisors LLC raised its holdings in shares of NiSource, Inc (NYSE:NI) by 32.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,966 shares of the utilities provider’s stock after acquiring an additional 8,289 shares during the quarter. Profund Advisors LLC’s holdings in NiSource were worth $861,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of NiSource by 2,428.6% during the 1st quarter. BlackRock Inc. now owns 23,705,566 shares of the utilities provider’s stock worth $563,954,000 after acquiring an additional 22,768,084 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of NiSource by 32.8% during the 2nd quarter. Alliancebernstein L.P. now owns 10,831,595 shares of the utilities provider’s stock worth $274,689,000 after acquiring an additional 2,675,042 shares in the last quarter. Neuberger Berman Group LLC boosted its position in shares of NiSource by 59.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 3,707,119 shares of the utilities provider’s stock worth $94,013,000 after acquiring an additional 1,387,190 shares in the last quarter. Pictet Asset Management Ltd. boosted its position in shares of NiSource by 25.4% during the 2nd quarter. Pictet Asset Management Ltd. now owns 3,264,081 shares of the utilities provider’s stock worth $85,095,000 after acquiring an additional 661,840 shares in the last quarter. Finally, Commonwealth Bank of Australia boosted its position in shares of NiSource by 15.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 3,247,772 shares of the utilities provider’s stock worth $82,362,000 after acquiring an additional 437,047 shares in the last quarter. 81.96% of the stock is owned by institutional investors and hedge funds.
In other news, Director Michael E. Jesanis acquired 2,000 shares of the stock in a transaction that occurred on 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 completion of 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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.35% of the stock is owned by insiders.
Shares of NiSource, Inc (NYSE NI) opened at 25.69 on Friday. NiSource, Inc has a 12 month low of $21.17 and a 12 month high of $27.29. The firm has a market capitalization of $8.37 billion, a PE ratio of 29.80 and a beta of 0.39. The company has a 50 day moving average price of $26.75 and a 200-day moving average price of $25.30.
NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.10. The firm had revenue of $990.70 million during the quarter, compared to analyst estimates of $934.95 million. NiSource had a return on equity of 9.17% and a net margin of 5.96%. During the same period in the previous year, the company earned $0.09 earnings per share. Equities research analysts expect that NiSource, Inc will post $1.19 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Tuesday, October 31st will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Monday, October 30th. NiSource’s dividend payout ratio is currently 81.40%.
NI has been the subject of several analyst reports. Zelman & Associates cut NiSource from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. Zacks Investment Research cut NiSource from a “buy” rating to a “hold” rating in a research report on Wednesday, May 31st. Barclays PLC reissued an “equal weight” rating and issued a $26.00 target price (up from $25.00) on shares of NiSource in a research report on Thursday, June 1st. 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. Finally, Wells Fargo & Company started 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. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $26.72.
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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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