Commonwealth of Pennsylvania Public School Empls Retrmt SYS Raises Position in NiSource, Inc (NI)
Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of NiSource, Inc (NYSE:NI) by 0.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,030 shares of the utilities provider’s stock after acquiring an additional 37 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in NiSource were worth $609,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of NI. CENTRAL TRUST Co boosted its position in shares of NiSource by 454.0% during the second quarter. CENTRAL TRUST Co now owns 5,839 shares of the utilities provider’s stock worth $148,000 after acquiring an additional 4,785 shares during the last quarter. LSV Asset Management bought a new position in shares of NiSource during the first quarter worth $159,000. Ameritas Investment Partners Inc. bought a new position in shares of NiSource during the first quarter worth $183,000. Commerzbank Aktiengesellschaft FI bought a new position in shares of NiSource during the first quarter worth $202,000. Finally, Laurion Capital Management LP bought a new position in shares of NiSource during the first quarter worth $202,000. Hedge funds and other institutional investors own 81.96% of the company’s stock.
NiSource, Inc (NI) opened at 26.54 on Tuesday. NiSource, Inc has a 52-week low of $21.17 and a 52-week high of $27.29. The firm’s 50-day moving average is $26.74 and its 200 day moving average is $25.28. The company has a market cap of $8.65 billion, a price-to-earnings ratio of 30.79 and a beta of 0.39.
NiSource (NYSE:NI) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. NiSource had a net margin of 5.96% and a return on equity of 9.17%. The company had revenue of $990.70 million for the quarter, compared to analysts’ expectations of $934.95 million. During the same quarter in the previous year, the company posted $0.09 EPS. On average, equities research analysts predict that NiSource, Inc will post $1.19 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Tuesday, October 31st will be paid a dividend of $0.175 per share. The ex-dividend date is Monday, October 30th. This represents a $0.70 annualized dividend and a yield of 2.64%. NiSource’s dividend payout ratio (DPR) is presently 81.40%.
In other NiSource news, Director Michael E. Jesanis bought 2,000 shares of the stock in a transaction on Monday, August 14th. The shares were bought at an average price of $26.44 per share, with a total value of $52,880.00. Following the purchase, the director now directly owns 34,195 shares in the company, valued at approximately $904,115.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.
NI has been the subject of a number of research reports. Zacks Investment Research lowered shares of NiSource from a “buy” rating to a “hold” rating in a research report on Thursday, May 25th. Zelman & Associates lowered shares of NiSource from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. Barclays PLC restated an “equal weight” rating and set a $26.00 target price (up previously from $25.00) on shares of NiSource in a research report on Thursday, June 1st. Jefferies Group LLC restated a “hold” rating and set a $23.00 target price on shares of NiSource in a research report on Friday, July 14th. Finally, Wells Fargo & Company initiated coverage on shares of NiSource in a research report on Wednesday, August 9th. They set an “outperform” rating and a $30.00 target price for the company. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $26.61.
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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