Louisiana State Employees Retirement System cut its stake in shares of NiSource Inc. (NYSE:NI) by 1.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,100 shares of the company’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in NiSource were worth $560,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in NI. GWM Advisors LLC purchased a new stake in shares of NiSource during the second quarter valued at about $205,000. John G Ullman & Associates Inc. purchased a new stake in shares of NiSource during the second quarter valued at about $215,000. Capital Investment Advisors LLC increased its stake in shares of NiSource by 5.9% in the second quarter. Capital Investment Advisors LLC now owns 9,040 shares of the company’s stock valued at $240,000 after buying an additional 500 shares during the period. Daiwa Securities Group Inc. purchased a new stake in shares of NiSource during the second quarter valued at about $247,000. Finally, Alpine Partners VI LLC purchased a new stake in shares of NiSource during the first quarter valued at about $249,000. Institutional investors own 82.30% of the company’s stock.
Shares of NiSource Inc. (NYSE:NI) traded up 1.01% on Monday, hitting $22.91. 2,257,678 shares of the stock traded hands. The stock has a 50 day moving average price of $23.82 and a 200-day moving average price of $24.38. NiSource Inc. has a 52 week low of $18.60 and a 52 week high of $26.94. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of 27.87 and a beta of 0.25.
NiSource (NYSE:NI) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ 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 posted $0.18 earnings per share. On average, equities research analysts forecast that NiSource Inc. will post $1.07 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Monday, October 31st will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Thursday, October 27th. NiSource’s payout ratio is 80.49%.
Several equities research analysts recently issued reports on the stock. Jefferies Group upgraded shares of NiSource from an “underperform” rating to a “hold” rating in a research note on Thursday. 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. restated a “hold” rating and set a $26.00 price objective on shares of NiSource in a research report on Wednesday, August 3rd. Citigroup Inc. raised their price objective on shares of NiSource from $18.08 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. Finally, Zacks Investment Research downgraded shares of NiSource from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $25.09.
In other NiSource news, VP Teresa M. Smith sold 1,200 shares of the business’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $23.75, for a total value of $28,500.00. Following the transaction, the vice president now directly owns 37,883 shares in the company, valued at $899,721.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 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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