NiSource, Inc (NI) Shares Bought by Janney Montgomery Scott LLC
Janney Montgomery Scott LLC raised its stake in NiSource, Inc (NYSE:NI) by 1.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,043 shares of the utilities provider’s stock after buying an additional 599 shares during the period. Janney Montgomery Scott LLC’s holdings in NiSource were worth $1,066,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its position 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 valued at $563,954,000 after buying an additional 22,768,084 shares in the last quarter. JPMorgan Chase & Co. raised its position 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 valued at $414,632,000 after buying an additional 7,194,018 shares in the last quarter. Geode Capital Management LLC raised its position 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 valued at $75,093,000 after buying an additional 244,793 shares in the last quarter. Morgan Stanley raised its position 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 valued at $61,037,000 after buying an additional 831,460 shares in the last quarter. Finally, Legal & General Group Plc raised its position 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 valued at $56,492,000 after buying an additional 31,063 shares in the last quarter. Institutional investors and hedge funds own 82.87% of the company’s stock.
NiSource, Inc (NI) opened at 26.35 on Friday. NiSource, Inc has a 52-week low of $21.17 and a 52-week high of $26.69. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 30.57 and a beta of 0.37. The company’s 50-day moving average price is $25.88 and its 200-day moving average price is $24.49.
NiSource (NYSE:NI) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. The company had revenue of $990.70 million during the quarter, compared to analyst estimates of $934.95 million. NiSource had a return on equity of 9.17% and a net margin of 5.96%. During the same quarter in the prior year, the business earned $0.09 earnings per share. Equities research analysts expect that NiSource, Inc will post $1.19 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Tuesday, October 31st will be issued a dividend of $0.175 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.70 dividend on an annualized basis and a yield of 2.66%. NiSource’s dividend payout ratio is currently 81.40%.
Several research analysts have recently issued reports on the company. Zacks Investment Research lowered NiSource from a “buy” rating to a “hold” rating in a research report on Monday, June 12th. Wells Fargo & Company assumed coverage on NiSource in a research report on Wednesday. They issued an “outperform” rating and a $30.00 target price for the company. Barclays PLC reissued an “equal weight” rating and issued a $26.00 target price (up previously from $25.00) on shares of NiSource in a research report on Thursday, June 1st. 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. Finally, Zelman & Associates lowered NiSource from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $25.89.
In other NiSource news, EVP Pablo Vegas sold 7,200 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $25.12, for a total transaction of $180,864.00. Following the completion of the sale, the executive vice president now owns 94,885 shares in the company, valued at $2,383,511.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Donald Eugene Brown sold 6,906 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $25.51, for a total value of $176,172.06. Following the sale, 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 owned by corporate 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.
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