Candriam Luxembourg S.C.A. acquired a new position in NiSource Inc. (NYSE:NI) during the second quarter, Holdings Channel reports. The firm acquired 547,430 shares of the company’s stock, valued at approximately $14,518,000.
A number of other institutional investors have also recently made changes to their positions in NI. AIMZ Investment Advisors LLC bought a new stake in shares of NiSource during the first quarter worth $267,000. UMB Bank N A MO bought a new stake in shares of NiSource during the second quarter worth $206,000. GWM Advisors LLC bought a new stake in shares of NiSource during the second quarter worth $205,000. John G Ullman & Associates Inc. bought a new stake in shares of NiSource during the second quarter worth $215,000. Finally, Squarepoint Ops LLC bought a new stake in shares of NiSource during the first quarter worth $208,000. Institutional investors own 82.28% of the company’s stock.
Shares of NiSource Inc. (NYSE:NI) traded down 0.63% on Friday, reaching $25.11. 3,028,209 shares of the company traded hands. The company has a 50-day moving average of $24.45 and a 200-day moving average of $24.30. The stock has a market capitalization of $8.09 billion, a price-to-earnings ratio of 30.55 and a beta of 0.25. NiSource Inc. has a 1-year low of $17.67 and a 1-year high of $26.94.
NiSource (NYSE:NI) last announced its earnings results on Tuesday, August 2nd. The company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.01. NiSource had a net margin of 6.18% and a return on equity of 8.75%. During the same period in the prior year, the business earned $0.18 earnings per share. Analysts anticipate that NiSource Inc. will post $1.07 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Monday, October 31st will be issued a $0.165 dividend. The ex-dividend date is Thursday, October 27th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.63%. NiSource’s dividend payout ratio is currently 80.49%.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of NiSource from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Friday. Evercore ISI downgraded shares of NiSource from a “hold” rating to a “sell” rating and set a $23.75 price objective for the company. in a research report on Wednesday, July 6th. JPMorgan Chase & Co. reissued a “hold” rating and set a $26.00 price objective on shares of NiSource in a research report on Wednesday, August 3rd. Citigroup Inc. boosted their price objective on shares of NiSource from $18.08 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Finally, Argus reissued a “hold” rating on shares of NiSource in a research report on Monday, July 11th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. NiSource has an average rating of “Hold” and a consensus target price of $25.09.
In other NiSource news, VP Teresa M. Smith sold 1,200 shares of the firm’s stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $23.75, for a total value of $28,500.00. Following the completion of the transaction, the vice president now owns 37,883 shares of the company’s stock, valued at $899,721.25. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.32% of the stock is currently 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 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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