UMB Bank N A MO Takes Position in NiSource Inc. (NI)
UMB Bank N A MO bought a new stake in shares of NiSource Inc. (NYSE:NI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,739 shares of the company’s stock, valued at approximately $206,000.
Other hedge funds have also recently bought and sold shares of the company. GWM Advisors LLC bought a new stake in NiSource during the second quarter worth approximately $205,000. John G Ullman & Associates Inc. bought a new stake in NiSource during the second quarter worth approximately $215,000. Advisor Partners LLC bought a new stake in NiSource during the first quarter worth approximately $220,000. Capital Investment Advisors LLC raised its stake in NiSource by 5.9% in the second quarter. Capital Investment Advisors LLC now owns 9,040 shares of the company’s stock worth $240,000 after buying an additional 500 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in NiSource during the second quarter worth approximately $247,000. 82.28% of the stock is currently owned by institutional investors.
Shares of NiSource Inc. (NYSE:NI) traded down 0.41% during midday trading on Friday, hitting $24.11. The company had a trading volume of 2,937,683 shares. The firm has a market cap of $7.77 billion, a price-to-earnings ratio of 29.33 and a beta of 0.25. The company’s 50 day moving average is $24.39 and its 200 day moving average is $24.39. NiSource Inc. has a one year low of $18.60 and a one year high of $26.94.
NiSource (NYSE:NI) last announced its earnings results 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 quarter last year, the firm earned $0.18 EPS. Equities analysts forecast that NiSource Inc. will post $1.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Monday, October 31st will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.74%. NiSource’s dividend payout ratio is 80.49%.
A number of brokerages have issued reports on NI. Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Friday, September 23rd. KeyCorp set a $27.00 price target on NiSource and gave the stock a “buy” rating in a research note on Monday, September 12th. Credit Suisse Group AG lowered NiSource from a “neutral” rating to an “underperform” rating and set a $25.00 price target on the stock. in a research note on Friday, August 19th. They noted that the move was a valuation call. JPMorgan Chase & Co. reissued a “hold” rating and issued a $26.00 price target on shares of NiSource in a research note on Wednesday, August 3rd. Finally, Citigroup Inc. raised their price target on NiSource from $18.08 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. NiSource has an average rating of “Hold” and an average price target of $25.09.
In other news, VP Teresa M. Smith sold 1,200 shares of NiSource stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $23.75, for a total transaction of $28,500.00. Following the transaction, the vice president now owns 37,883 shares in the company, valued at $899,721.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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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