Tower Research Capital LLC TRC reduced its stake in shares of NiSource Inc. (NYSE:NI) by 4.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 13,542 shares of the utilities provider’s stock after selling 625 shares during the period. Tower Research Capital LLC TRC’s holdings in NiSource were worth $390,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of NiSource by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 4,703,532 shares of the utilities provider’s stock valued at $119,026,000 after acquiring an additional 363,894 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of NiSource by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,475,444 shares of the utilities provider’s stock valued at $37,404,000 after acquiring an additional 74,548 shares in the last quarter. Cetera Advisor Networks LLC bought a new position in shares of NiSource in the first quarter valued at approximately $200,000. American International Group Inc. grew its holdings in shares of NiSource by 1.3% in the first quarter. American International Group Inc. now owns 167,236 shares of the utilities provider’s stock valued at $4,793,000 after acquiring an additional 2,157 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of NiSource by 3.4% in the first quarter. CIBC Asset Management Inc now owns 35,670 shares of the utilities provider’s stock valued at $1,022,000 after acquiring an additional 1,183 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on NI shares. Credit Suisse Group lowered NiSource from an “outperform” rating to a “neutral” rating in a report on Wednesday, August 7th. Argus raised NiSource from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Wednesday, July 24th. Zacks Investment Research lowered NiSource from a “hold” rating to a “sell” rating and set a $30.00 target price for the company. in a report on Wednesday, May 29th. Finally, Wolfe Research lowered NiSource from an “outperform” rating to a “peer perform” rating in a report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $28.48.
In other NiSource news, CFO Donald Eugene Brown sold 10,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $28.04, for a total transaction of $280,400.00. Following the sale, the chief financial officer now owns 77,603 shares in the company, valued at $2,175,988.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Joseph W. Mulpas sold 12,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $29.78, for a total value of $357,360.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,405 shares of company stock worth $2,768,990. 0.35% of the stock is owned by company insiders.
NiSource stock traded up $0.11 during trading on Friday, hitting $29.55. The stock had a trading volume of 17,734 shares, compared to its average volume of 2,223,377. NiSource Inc. has a 1 year low of $24.19 and a 1 year high of $30.34. The company has a quick ratio of 0.33, a current ratio of 0.41 and a debt-to-equity ratio of 1.40. The stock’s 50 day moving average is $29.24 and its two-hundred day moving average is $28.59. The stock has a market cap of $11.00 billion, a price-to-earnings ratio of 22.67, a price-to-earnings-growth ratio of 4.20 and a beta of 0.23.
NiSource (NYSE:NI) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. NiSource had a return on equity of 10.60% and a net margin of 3.15%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the business earned $0.07 earnings per share. As a group, equities research analysts anticipate that NiSource Inc. will post 1.3 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Thursday, October 31st will be paid a $0.20 dividend. The ex-dividend date is Wednesday, October 30th. This represents a $0.80 annualized dividend and a yield of 2.71%. NiSource’s payout ratio is 61.54%.
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 for residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and wholesale and transmission transaction services.
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