Schroder Investment Management Group cut its position in NiSource Inc. (NYSE:NI) by 24.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 16,362 shares of the company’s stock after selling 5,363 shares during the period. Schroder Investment Management Group’s holdings in NiSource were worth $434,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of NI. Lynch & Associates IN raised its stake in NiSource by 0.3% in the second quarter. Lynch & Associates IN now owns 10,228 shares of the company’s stock worth $271,000 after buying an additional 31 shares during the period. Sii Investments Inc. WI raised its stake in NiSource by 0.9% in the first quarter. Sii Investments Inc. WI now owns 11,639 shares of the company’s stock worth $273,000 after buying an additional 99 shares during the period. MUFG Americas Holdings Corp raised its stake in NiSource by 2.5% in the second quarter. MUFG Americas Holdings Corp now owns 4,149 shares of the company’s stock worth $110,000 after buying an additional 100 shares during the period. Conning Inc. raised its stake in NiSource by 2.2% in the second quarter. Conning Inc. now owns 10,686 shares of the company’s stock worth $283,000 after buying an additional 230 shares during the period. Finally, GHP Investment Advisors Inc. raised its stake in NiSource by 1.1% in the second quarter. GHP Investment Advisors Inc. now owns 35,671 shares of the company’s stock worth $946,000 after buying an additional 374 shares during the period. Hedge funds and other institutional investors own 82.28% of the company’s stock.
Shares of NiSource Inc. (NYSE:NI) traded down 0.80% during trading on Tuesday, hitting $24.90. 1,016,490 shares of the company traded hands. NiSource Inc. has a 52-week low of $17.72 and a 52-week high of $26.94. The stock has a market capitalization of $8.02 billion, a PE ratio of 30.29 and a beta of 0.25. The company has a 50-day moving average of $24.45 and a 200-day moving average of $24.36.
NiSource (NYSE:NI) last released its earnings results on Tuesday, August 2nd. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate 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 prior year, the company posted $0.18 earnings per share. Equities analysts expect that NiSource Inc. will post $1.07 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Monday, October 31st will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Thursday, October 27th. NiSource’s dividend payout ratio is currently 80.49%.
A number of research firms recently weighed in on NI. Zacks Investment Research lowered shares of NiSource from a “buy” rating to a “hold” rating in a research note on Thursday, September 22nd. Evercore ISI lowered shares of NiSource from a “hold” rating to a “sell” rating and set a $23.75 price target for the company. in a research report on Wednesday, July 6th. KeyCorp reissued an “outperform” rating and set a $27.00 price target (up from $25.50) on shares of NiSource in a research report on Tuesday, July 5th. JPMorgan Chase & Co. reissued a “hold” rating and set a $26.00 price target on shares of NiSource in a research report on Wednesday, August 3rd. Finally, Citigroup Inc. increased their price target 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. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock currently 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 NiSource stock in a transaction dated Wednesday, August 31st. The stock was 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 directly owns 37,883 shares of the company’s stock, valued at approximately $899,721.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.32% of the stock is 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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