Ingalls & Snyder LLC Has $1.37 Million Stake in NiSource, Inc (NYSE:NI)
Ingalls & Snyder LLC lowered its stake in NiSource, Inc (NYSE:NI) by 1.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,966 shares of the utilities provider’s stock after selling 850 shares during the period. Ingalls & Snyder LLC’s holdings in NiSource were worth $1,369,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of NiSource by 2,428.6% in the first quarter. BlackRock Inc. now owns 23,705,566 shares of the utilities provider’s stock worth $563,954,000 after buying an additional 22,768,084 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of NiSource by 70.3% in the first quarter. JPMorgan Chase & Co. now owns 17,428,785 shares of the utilities provider’s stock worth $414,632,000 after buying an additional 7,194,018 shares during the period. Geode Capital Management LLC boosted its stake in shares of NiSource by 8.4% in the first quarter. Geode Capital Management LLC now owns 3,161,227 shares of the utilities provider’s stock worth $75,093,000 after buying an additional 244,793 shares during the period. Morgan Stanley boosted its stake in shares of NiSource by 47.9% in the first quarter. Morgan Stanley now owns 2,565,645 shares of the utilities provider’s stock worth $61,037,000 after buying an additional 831,460 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of NiSource by 1.3% in the first quarter. Legal & General Group Plc now owns 2,374,622 shares of the utilities provider’s stock worth $56,492,000 after buying an additional 31,063 shares during the period. 82.87% of the stock is owned by institutional investors and hedge funds.
Shares of NiSource, Inc (NYSE NI) opened at 26.40 on Monday. The stock has a market capitalization of $8.60 billion, a P/E ratio of 24.13 and a beta of 0.37. NiSource, Inc has a 1-year low of $21.17 and a 1-year high of $26.56. The firm’s 50-day moving average price is $25.79 and its 200 day moving average price is $24.30.
NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.10. The business had revenue of $990.70 million during the quarter, compared to the consensus estimate of $934.95 million. NiSource had a return on equity of 9.17% and a net margin of 5.96%. During the same period last year, the firm earned $0.09 earnings per share. Analysts expect that NiSource, Inc will post $1.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, July 31st will be paid a $0.175 dividend. The ex-dividend date is Thursday, July 27th. This represents a $0.70 dividend on an annualized basis and a yield of 2.65%. NiSource’s dividend payout ratio (DPR) is 81.40%.
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A number of analysts recently issued reports on the company. Barclays PLC reissued an “equal weight” rating and issued a $26.00 target price (up from $25.00) on shares of NiSource in a research report on Thursday, June 1st. Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Thursday, June 1st. Jefferies Group LLC reissued a “hold” rating and issued a $23.00 target price on shares of NiSource in a research report on Friday, July 14th. Zelman & Associates cut NiSource from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. Finally, Ladenburg Thalmann Financial Services assumed coverage on NiSource in a research report on Friday, May 19th. They issued a “buy” rating and a $27.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. NiSource presently has a consensus rating of “Hold” and a consensus target price of $25.38.
In related news, CFO Donald Eugene Brown sold 6,906 shares of NiSource stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $25.51, for a total value of $176,172.06. Following the completion of the transaction, the chief financial officer now directly owns 141,168 shares in the company, valued at $3,601,195.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Pablo Vegas sold 7,200 shares of NiSource stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $25.12, for a total value of $180,864.00. Following the completion of the transaction, the executive vice president now owns 94,885 shares of the company’s stock, valued at $2,383,511.20. The disclosure for this sale can be found here. Insiders sold 89,981 shares of company stock valued at $2,191,779 over the last quarter. 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 Company’s 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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