Cubist Systematic Strategies LLC bought a new stake in NiSource Inc. (NYSE:NI) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 21,355 shares of the utilities provider’s stock, valued at approximately $511,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Optimum Investment Advisors acquired a new stake in NiSource in the first quarter valued at approximately $121,000. Peapack Gladstone Financial Corp acquired a new stake in NiSource in the first quarter valued at approximately $210,000. FDx Advisors Inc. boosted its stake in NiSource by 25.4% in the fourth quarter. FDx Advisors Inc. now owns 11,615 shares of the utilities provider’s stock valued at $298,000 after acquiring an additional 2,353 shares in the last quarter. Wedbush Securities Inc. lifted its stake in shares of NiSource by 25.3% during the first quarter. Wedbush Securities Inc. now owns 13,858 shares of the utilities provider’s stock worth $331,000 after buying an additional 2,800 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of NiSource by 26.6% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 13,518 shares of the utilities provider’s stock worth $347,000 after buying an additional 2,839 shares during the period. Institutional investors own 89.15% of the company’s stock.
NYSE:NI opened at $26.28 on Friday. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.51 and a quick ratio of 0.43. NiSource Inc. has a 12 month low of $22.44 and a 12 month high of $27.76. The firm has a market cap of $8.72 billion, a PE ratio of 21.72, a P/E/G ratio of 3.65 and a beta of 0.28.
NiSource (NYSE:NI) last issued its earnings results on Wednesday, May 2nd. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.01. NiSource had a net margin of 3.85% and a return on equity of 9.85%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the company posted $0.71 earnings per share. equities analysts predict that NiSource Inc. will post 1.29 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 20th. Investors of record on Tuesday, July 31st will be issued a dividend of $0.195 per share. The ex-dividend date is Monday, July 30th. This represents a $0.78 annualized dividend and a dividend yield of 2.97%. NiSource’s dividend payout ratio (DPR) is presently 64.46%.
In related news, VP Peter T. Disser sold 6,732 shares of the firm’s stock in a transaction on Wednesday, May 23rd. The shares were sold at an average price of $24.67, for a total transaction of $166,078.44. Following the completion of the transaction, the vice president now owns 7,695 shares of the company’s stock, valued at $189,835.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eric L. Butler bought 4,000 shares of NiSource stock in a transaction that occurred on Wednesday, May 9th. The shares were acquired at an average cost of $24.83 per share, with a total value of $99,320.00. Following the acquisition, the director now owns 13,687 shares of the company’s stock, valued at $339,848.21. The disclosure for this purchase can be found here. Company insiders own 0.37% of the company’s stock.
NI has been the subject of several research reports. Bank of America reiterated a “buy” rating and set a $28.00 price objective on shares of NiSource in a research note on Monday, May 7th. JPMorgan Chase & Co. upgraded shares of NiSource from a “neutral” rating to an “overweight” rating in a research note on Thursday, May 31st. ValuEngine downgraded shares of NiSource from a “hold” rating to a “sell” rating in a research note on Wednesday, June 6th. KeyCorp reiterated a “buy” rating and set a $25.00 price objective on shares of NiSource in a research note on Thursday, March 15th. Finally, Credit Suisse Group lifted their price objective on shares of NiSource to $27.00 and gave the stock an “outperform” rating in a research note on Monday, May 7th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $26.50.
NiSource Company Profile
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 to residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and offers wholesale and transmission transaction services.
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