29,947 Shares in NiSource Inc. (NI) Acquired by Shell Asset Management Co.
Shell Asset Management Co. purchased a new stake in shares of NiSource Inc. (NYSE:NI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 29,947 shares of the company’s stock, valued at approximately $794,000.
Several other large investors have also recently made changes to their positions in the stock. AIMZ Investment Advisors LLC bought a new position in NiSource during the first quarter worth approximately $267,000. GWM Advisors LLC bought a new position in NiSource during the second quarter worth approximately $205,000. John G Ullman & Associates Inc. bought a new position in NiSource during the second quarter worth approximately $215,000. Capital Investment Advisors LLC raised its position 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 in the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in NiSource during the second quarter worth approximately $247,000. Institutional investors own 82.28% of the company’s stock.
NiSource Inc. (NYSE:NI) traded down 0.04% during trading on Thursday, reaching $22.84. 2,148,304 shares of the company were exchanged. NiSource Inc. has a 52-week low of $18.60 and a 52-week high of $26.94. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of 27.79 and a beta of 0.25. The firm has a 50-day moving average of $24.21 and a 200-day moving average of $24.39.
NiSource (NYSE:NI) last announced its earnings results on Tuesday, August 2nd. The company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.01. NiSource had a net margin of 6.18% and a return on equity of 8.75%. During the same quarter in the previous year, the business earned $0.18 earnings per share. On average, equities analysts forecast that NiSource Inc. will post $1.07 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Monday, October 31st will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Thursday, October 27th. NiSource’s dividend payout ratio is currently 80.49%.
NI has been the topic of a number of research analyst reports. Evercore ISI lowered shares of NiSource from a “hold” rating to a “sell” rating and set a $23.75 price objective on the stock. in a research note on Wednesday, July 6th. Zacks Investment Research lowered shares of NiSource from a “buy” rating to a “hold” rating in a research note on Thursday, September 22nd. Jefferies Group lowered shares of NiSource from a “hold” rating to an “underperform” rating and set a $22.00 price objective on the stock. in a research note on Monday, July 25th. KeyCorp reiterated an “outperform” rating and set a $27.00 price objective (up previously from $25.50) on shares of NiSource in a research note on Tuesday, July 5th. Finally, Credit Suisse Group AG cut shares of NiSource from a “neutral” rating to an “underperform” rating and set a $25.00 target price for the company. in a report on Friday, August 19th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. NiSource has an average rating of “Hold” and an average price target of $25.09.
In other NiSource news, VP Teresa M. Smith sold 1,200 shares of the stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $23.75, for a total value of $28,500.00. Following the completion of the sale, 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 SEC, which is accessible through this hyperlink. 0.32% of the stock is currently owned by company insiders.
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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