CWM Advisors LLC boosted its position in shares of NiSource Inc. (NYSE:NI) by 9.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 24,323 shares of the utilities provider’s stock after purchasing an additional 2,095 shares during the quarter. CWM Advisors LLC’s holdings in NiSource were worth $700,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of NI. Jennison Associates LLC grew its holdings in shares of NiSource by 73.1% in the first quarter. Jennison Associates LLC now owns 5,626,608 shares of the utilities provider’s stock valued at $161,259,000 after purchasing an additional 2,375,299 shares in the last quarter. Norges Bank acquired a new position in NiSource in the fourth quarter valued at approximately $47,499,000. FMR LLC raised its stake in shares of NiSource by 104.5% during the 4th quarter. FMR LLC now owns 3,036,242 shares of the utilities provider’s stock worth $76,968,000 after buying an additional 1,551,419 shares during the period. Janus Henderson Group PLC raised its stake in shares of NiSource by 62.9% during the 1st quarter. Janus Henderson Group PLC now owns 3,428,614 shares of the utilities provider’s stock worth $98,263,000 after buying an additional 1,324,440 shares during the period. Finally, Commonwealth Bank of Australia raised its stake in NiSource by 32.7% in the 1st quarter. Commonwealth Bank of Australia now owns 5,318,979 shares of the utilities provider’s stock valued at $152,428,000 after purchasing an additional 1,309,337 shares during the last quarter. Hedge funds and other institutional investors own 93.77% of the company’s stock.
Several research analysts recently commented on NI shares. Bank of America downgraded NiSource from a “buy” rating to a “neutral” rating and set a $27.37 price objective for the company. in a research note on Monday, April 22nd. Wolfe Research cut NiSource from an “outperform” rating to a “peer perform” rating in a report on Monday, August 5th. TheStreet upgraded NiSource from a “c+” rating to a “b-” rating in a report on Monday, May 13th. Credit Suisse Group lowered NiSource from an “outperform” rating to a “neutral” rating in a research report on Wednesday, August 7th. Finally, Zacks Investment Research lowered NiSource from a “hold” rating to a “sell” rating and set a $30.00 price target on the stock. in a research report on Wednesday, May 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. NiSource currently has an average rating of “Hold” and a consensus target price of $28.32.
NiSource stock opened at $29.03 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.41 and a quick ratio of 0.33. NiSource Inc. has a 1-year low of $24.19 and a 1-year high of $30.34. The company has a market cap of $10.72 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 4.09 and a beta of 0.23. The stock’s 50 day moving average price is $29.16 and its 200 day moving average price is $28.17.
NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.06 billion. NiSource had a return on equity of 10.60% and a net margin of 3.15%. During the same period in the previous year, the firm posted $0.07 earnings per share. On average, equities research analysts anticipate that NiSource Inc. will post 1.3 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Thursday, October 31st will be paid a $0.20 dividend. The ex-dividend date is Wednesday, October 30th. This represents a $0.80 annualized dividend and a yield of 2.76%. NiSource’s payout ratio is currently 61.54%.
In other NiSource news, CFO Donald Eugene Brown sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $28.04, for a total transaction of $280,400.00. Following the transaction, the chief financial officer now owns 77,603 shares in the company, valued at approximately $2,175,988.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Carrie J. Hightman sold 22,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $29.96, for a total transaction of $659,120.00. Following the transaction, the executive vice president now directly owns 329,207 shares of the company’s stock, valued at approximately $9,863,041.72. The disclosure for this sale can be found here. Insiders sold 94,405 shares of company stock valued at $2,768,990 over the last quarter. Insiders own 0.35% of the company’s stock.
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.
See Also: SEC Filing
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