Toronto Dominion Bank Boosts Holdings in NiSource Inc. (NI)
Toronto Dominion Bank grew its holdings in NiSource Inc. (NYSE:NI) by 20.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 241,992 shares of the utilities provider’s stock after acquiring an additional 41,254 shares during the period. Toronto Dominion Bank’s holdings in NiSource were worth $6,934,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also bought and sold shares of NI. Cedar Wealth Management LLC acquired a new position in shares of NiSource during the fourth quarter worth about $25,000. Flagship Harbor Advisors LLC grew its holdings in shares of NiSource by 173.5% during the fourth quarter. Flagship Harbor Advisors LLC now owns 1,031 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 654 shares during the last quarter. Pearl River Capital LLC bought a new stake in shares of NiSource during the fourth quarter worth about $35,000. Oregon Public Employees Retirement Fund grew its holdings in shares of NiSource by 2,401.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 921,473 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 884,635 shares during the last quarter. Finally, Lindbrook Capital LLC bought a new stake in shares of NiSource during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 94.09% of the company’s stock.
Several analysts have recently weighed in on the company. Zacks Investment Research upgraded NiSource from a “sell” rating to a “hold” rating in a report on Monday. TheStreet raised NiSource from a “c+” rating to a “b-” rating in a research note on Monday, May 13th. ValuEngine lowered NiSource from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Bank of America lowered NiSource from a “buy” rating to a “neutral” rating and set a $27.37 price objective on the stock. in a research note on Monday, April 22nd. Finally, Goldman Sachs Group raised NiSource from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $26.00 to $29.00 in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $27.87.
NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.05. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.84 billion. NiSource had a positive return on equity of 10.76% and a negative net margin of 2.06%. During the same quarter in the previous year, the company posted $0.77 earnings per share. Research analysts predict that NiSource Inc. will post 1.3 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, July 30th. This represents a $0.80 annualized dividend and a dividend yield of 2.83%. NiSource’s dividend payout ratio is 61.54%.
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NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation for residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and wholesale and transmission transaction services.
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