Retirement Systems of Alabama lowered its stake in NiSource Inc. (NYSE:NI) by 74.1% during the second quarter, Holdings Channel reports. The firm owned 163,926 shares of the company’s stock after selling 469,023 shares during the period. Retirement Systems of Alabama’s holdings in NiSource were worth $4,347,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in NI. Robeco Institutional Asset Management B.V. raised its stake in NiSource by 50.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 378,212 shares of the company’s stock valued at $10,029,000 after buying an additional 126,208 shares during the period. Geode Capital Management LLC raised its stake in NiSource by 6.1% in the first quarter. Geode Capital Management LLC now owns 2,843,274 shares of the company’s stock valued at $66,889,000 after buying an additional 162,206 shares during the period. BlackRock Group LTD raised its stake in NiSource by 11.1% in the first quarter. BlackRock Group LTD now owns 1,806,554 shares of the company’s stock valued at $42,562,000 after buying an additional 180,355 shares during the period. Gulf International Bank UK Ltd acquired a new stake in NiSource during the second quarter valued at $2,789,000. Finally, Royal Bank of Canada raised its stake in NiSource by 31.8% in the first quarter. Royal Bank of Canada now owns 2,597,619 shares of the company’s stock valued at $61,201,000 after buying an additional 627,154 shares during the period. 82.29% of the stock is currently owned by institutional investors.
Shares of NiSource Inc. (NYSE:NI) traded down 0.96% during trading on Friday, hitting $22.68. The stock had a trading volume of 3,120,961 shares. The firm has a 50-day moving average price of $23.85 and a 200 day moving average price of $24.37. The company has a market capitalization of $7.31 billion, a PE ratio of 27.59 and a beta of 0.25. NiSource Inc. has a 52 week low of $18.60 and a 52 week high of $26.94.
NiSource (NYSE:NI) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. NiSource had a return on equity of 8.75% and a net margin of 6.18%. During the same period in the previous year, the company posted $0.18 earnings per share. Equities analysts anticipate that NiSource Inc. will post $1.07 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Investors of record on Monday, October 31st will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, October 27th. NiSource’s dividend payout ratio is presently 80.49%.
Several research firms recently weighed in on NI. Jefferies Group raised NiSource from an “underperform” rating to a “hold” rating in a research note on Thursday. Evercore ISI lowered NiSource from a “hold” rating to a “sell” rating and set a $23.75 price target on the stock. in a research note on Wednesday, July 6th. JPMorgan Chase & Co. reissued a “hold” rating and set a $26.00 price target on shares of NiSource in a research note on Wednesday, August 3rd. Citigroup Inc. lifted their price target on NiSource from $18.08 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Finally, Zacks Investment Research lowered NiSource from a “buy” rating to a “hold” rating in a research note 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 stock. The company presently has an average rating of “Hold” and an average price target of $25.09.
In related news, VP Teresa M. Smith sold 1,200 shares of the stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $23.75, for a total transaction of $28,500.00. Following the completion of the sale, the vice president now directly owns 37,883 shares in the company, valued at approximately $899,721.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.32% of the company’s stock.
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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