Tdam USA Inc. grew its stake in shares of NiSource Inc. (NYSE:NI) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,189 shares of the utilities provider’s stock after buying an additional 415 shares during the quarter. Tdam USA Inc.’s holdings in NiSource were worth $495,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in NI. Cornerstone Advisors Inc. grew its stake in shares of NiSource by 36.9% in the second quarter. Cornerstone Advisors Inc. now owns 1,303 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 351 shares during the last quarter. Harvest Group Wealth Management LLC purchased a new stake in NiSource in the first quarter worth about $52,000. Steward Partners Investment Advisory LLC purchased a new stake in NiSource in the second quarter worth about $64,000. Northwestern Mutual Wealth Management Co. lifted its holdings in NiSource by 42.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,354 shares of the utilities provider’s stock worth $96,000 after buying an additional 998 shares during the period. Finally, Ibex Wealth Advisors purchased a new stake in NiSource in the second quarter worth about $133,000. 93.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NI stock traded up $0.41 during trading hours on Thursday, hitting $29.10. 35,298 shares of the company’s stock traded hands, compared to its average volume of 3,679,425. The stock has a fifty day moving average price of $29.16. NiSource Inc. has a 12-month low of $24.19 and a 12-month high of $30.34. The firm has a market cap of $10.75 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 4.09 and a beta of 0.23. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.33 and a current ratio of 0.41.
NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. NiSource had a net margin of 3.15% and a return on equity of 10.60%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the business earned $0.07 EPS. On average, equities research analysts forecast that NiSource Inc. will post 1.3 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Thursday, October 31st will be issued a $0.20 dividend. The ex-dividend date is Wednesday, October 30th. This represents a $0.80 dividend on an annualized basis and a yield of 2.75%. NiSource’s payout ratio is currently 61.54%.
In other NiSource news, CFO Donald Eugene Brown sold 10,000 shares of NiSource stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $28.04, for a total value of $280,400.00. Following the completion of the sale, the chief financial officer now owns 77,603 shares of the company’s stock, valued at approximately $2,175,988.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Joseph W. Mulpas sold 12,000 shares of NiSource stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $29.78, for a total transaction of $357,360.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 88,405 shares of company stock valued at $2,594,930. 0.35% of the stock is owned by company insiders.
Several analysts have commented on NI shares. Wolfe Research lowered shares of NiSource from an “outperform” rating to a “peer perform” rating in a report on Monday, August 5th. Argus upgraded shares of NiSource from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Wednesday, July 24th. TheStreet upgraded shares of NiSource from a “c+” rating to a “b-” rating in a report on Monday, May 13th. Credit Suisse Group lowered shares of NiSource from an “outperform” rating to a “neutral” rating in a report on Wednesday, August 7th. Finally, Bank of America lowered shares of NiSource from a “buy” rating to a “neutral” rating and set a $27.37 price objective for the company. in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $28.32.
NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation for residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and wholesale and transmission transaction services.
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