73,356 Shares in NiSource Inc. (NI) Acquired by ING Groep NV
ING Groep NV acquired a new stake in shares of NiSource Inc. (NYSE:NI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 73,356 shares of the company’s stock, valued at approximately $1,945,000.
Other hedge funds have also made changes to their positions in the company. Candriam Luxembourg S.C.A. purchased a new position in NiSource during the second quarter valued at $14,518,000. Geode Capital Management LLC raised its position 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 position 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 purchased a new position in NiSource during the second quarter valued at $2,789,000. Finally, Royal Bank of Canada raised its position 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. Institutional investors and hedge funds own 82.28% of the company’s stock.
NiSource Inc. (NYSE:NI) traded down 0.57% during midday trading on Wednesday, hitting $22.85. 3,854,339 shares of the stock were exchanged. The firm has a 50-day moving average price of $24.26 and a 200-day moving average price of $24.40. NiSource Inc. has a one year low of $18.60 and a one year high of $26.94. The stock has a market cap of $7.36 billion, a P/E ratio of 27.80 and a beta of 0.25.
NiSource (NYSE:NI) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ 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 quarter in the prior year, the firm earned $0.18 earnings per share. On average, equities research analysts anticipate that NiSource Inc. will post $1.07 EPS for the current fiscal year.
The business also recently declared 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 dividend yield of 2.89%. The ex-dividend date is Thursday, October 27th. NiSource’s dividend payout ratio is presently 80.49%.
Several equities analysts have recently weighed in on NI shares. KeyCorp set a $27.00 target price on shares of NiSource and gave the company a “buy” rating in a report on Monday, September 12th. Zacks Investment Research raised shares of NiSource from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Friday, September 23rd. Argus reissued a “hold” rating on shares of NiSource in a report on Monday, July 11th. Credit Suisse Group AG set a $25.00 price target on shares of NiSource and gave the stock a “hold” rating in a report on Monday, August 8th. Finally, JPMorgan Chase & Co. reissued a “hold” rating and issued a $26.00 price target on shares of NiSource in a report on Wednesday, August 3rd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $25.09.
In related news, VP Teresa M. Smith sold 1,200 shares of the 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 completion of the sale, the vice president now directly owns 37,883 shares of the company’s stock, valued at $899,721.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.32% of the company’s stock.
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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