Municipal Employees Retirement System of Michigan Holds Stake in NiSource, Inc (NI)
Municipal Employees Retirement System of Michigan continued to hold its position in NiSource, Inc (NYSE:NI) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,160 shares of the utilities provider’s stock at the end of the second quarter. Municipal Employees Retirement System of Michigan’s holdings in NiSource were worth $1,120,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisory Services Network LLC acquired a new stake in NiSource during the first quarter valued at approximately $108,000. First Financial Corp IN acquired a new stake in NiSource during the first quarter valued at approximately $124,000. TCI Wealth Advisors Inc. raised its stake in NiSource by 0.4% in the first quarter. TCI Wealth Advisors Inc. now owns 6,054 shares of the utilities provider’s stock valued at $144,000 after buying an additional 27 shares in the last quarter. CENTRAL TRUST Co raised its stake in NiSource by 454.0% in the second quarter. CENTRAL TRUST Co now owns 5,839 shares of the utilities provider’s stock valued at $148,000 after buying an additional 4,785 shares in the last quarter. Finally, LSV Asset Management acquired a new stake in NiSource during the first quarter valued at approximately $159,000. Institutional investors and hedge funds own 82.87% of the company’s stock.
Shares of NiSource, Inc (NYSE NI) opened at 26.37 on Friday. NiSource, Inc has a 12 month low of $21.17 and a 12 month high of $26.69. The stock has a market cap of $8.59 billion, a P/E ratio of 30.59 and a beta of 0.37. The company has a 50 day moving average of $25.87 and a 200 day moving average of $24.46.
NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.10. The firm had revenue of $990.70 million during the quarter, compared to analysts’ expectations of $934.95 million. NiSource had a net margin of 5.96% and a return on equity of 9.17%. During the same quarter in the previous year, the company earned $0.09 earnings per share. Equities research analysts expect that NiSource, Inc will post $1.19 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Tuesday, October 31st will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Monday, October 30th. NiSource’s dividend payout ratio is currently 81.40%.
ILLEGAL ACTIVITY NOTICE: “Municipal Employees Retirement System of Michigan Holds Stake in NiSource, Inc (NI)” was published by Daily Political and is the property of of Daily Political. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be viewed at https://www.dailypolitical.com/2017/08/11/municipal-employees-retirement-system-of-michigan-holds-stake-in-nisource-inc-ni.html.
Several research firms recently commented on NI. Zelman & Associates lowered shares of NiSource from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. Wells Fargo & Company began coverage on shares of NiSource in a research note on Wednesday. They set an “outperform” rating and a $30.00 target price for the company. Jefferies Group LLC reissued a “hold” rating and set a $23.00 target price on shares of NiSource in a research note on Friday, July 14th. Zacks Investment Research raised shares of NiSource from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Friday, July 14th. Finally, Ladenburg Thalmann Financial Services began coverage on shares of NiSource in a research note on Friday, May 19th. They set 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 seven have given a buy rating to the stock. NiSource has an average rating of “Hold” and a consensus target price of $25.89.
In related news, EVP Pablo Vegas sold 7,200 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $25.12, for a total transaction of $180,864.00. Following the completion of the transaction, the executive vice president now owns 94,885 shares in the company, valued at $2,383,511.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Donald Eugene Brown sold 6,906 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $25.51, for a total transaction of $176,172.06. Following the transaction, the chief financial officer now owns 141,168 shares of the company’s stock, valued at approximately $3,601,195.68. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.
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 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.
Want to see what other hedge funds are holding NI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NiSource, Inc (NYSE:NI).
Receive News & Ratings for NiSource Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NiSource Inc and related companies with MarketBeat.com's FREE daily email newsletter.