Balyasny Asset Management LLC Has $1.41 Million Position in NiSource, Inc (NI)
Balyasny Asset Management LLC lessened its holdings in NiSource, Inc (NYSE:NI) by 0.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,446 shares of the utilities provider’s stock after selling 256 shares during the quarter. Balyasny Asset Management LLC’s holdings in NiSource were worth $1,406,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of NiSource by 2.4% in the second quarter. Vanguard Group Inc. now owns 33,914,394 shares of the utilities provider’s stock valued at $860,069,000 after acquiring an additional 802,824 shares during the period. BlackRock Inc. increased 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 acquiring an additional 22,768,084 shares during the period. Alliancebernstein L.P. increased its position in shares of NiSource by 32.8% in the second quarter. Alliancebernstein L.P. now owns 10,831,595 shares of the utilities provider’s stock valued at $274,689,000 after acquiring an additional 2,675,042 shares during the period. Neuberger Berman Group LLC increased its position in shares of NiSource by 59.8% in the second quarter. Neuberger Berman Group LLC now owns 3,707,119 shares of the utilities provider’s stock valued at $94,013,000 after acquiring an additional 1,387,190 shares during the period. Finally, Pictet Asset Management Ltd. increased its position in shares of NiSource by 25.4% in the second quarter. Pictet Asset Management Ltd. now owns 3,264,081 shares of the utilities provider’s stock valued at $85,095,000 after acquiring an additional 661,840 shares during the period. Institutional investors own 81.96% of the company’s stock.
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A number of equities analysts have issued reports on the stock. J P Morgan Chase & Co boosted their price objective on shares of NiSource from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday. Zacks Investment Research upgraded shares of NiSource from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research report on Monday, October 2nd. KeyCorp restated a “buy” rating and issued a $29.50 price objective on shares of NiSource in a research report on Friday, September 1st. Credit Suisse Group upgraded shares of NiSource from an “underperform” rating to an “outperform” rating and boosted their price objective for the company from $25.00 to $29.00 in a research report on Monday, August 14th. Finally, Wells Fargo & Company assumed coverage on shares of NiSource in a research report on Wednesday, August 9th. They issued an “outperform” rating and a $30.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $26.75.
NiSource, Inc (NYSE:NI) opened at 26.60 on Friday. The stock has a market cap of $8.67 billion, a PE ratio of 30.86 and a beta of 0.36. The company’s 50 day moving average is $26.39 and its 200 day moving average is $25.58. NiSource, Inc has a 12 month low of $21.17 and a 12 month high of $27.29.
NiSource (NYSE:NI) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. The firm had revenue of $990.70 million during the quarter, compared to analyst estimates of $934.95 million. NiSource had a net margin of 5.96% and a return on equity of 9.17%. During the same quarter last year, the business earned $0.09 EPS. On average, analysts anticipate that NiSource, Inc will post $1.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Tuesday, October 31st will be issued a $0.175 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.70 annualized dividend and a dividend yield of 2.63%. NiSource’s dividend payout ratio (DPR) is presently 81.40%.
In related news, Director Michael E. Jesanis purchased 2,000 shares of NiSource stock in a transaction that occurred 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 of the company’s stock, valued at approximately $904,115.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% 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 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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