Parametric Portfolio Associates LLC decreased its position in shares of NiSource Inc. (NYSE:NI) by 0.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,511,734 shares of the utilities provider’s stock after selling 1,737 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.40% of NiSource worth $43,538,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Coastal Investment Advisors Inc. bought a new position in NiSource during the 2nd quarter worth $31,000. Pearl River Capital LLC bought a new position in NiSource during the 2nd quarter worth $34,000. Cornerstone Advisors Inc. increased its position in NiSource by 36.9% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,303 shares of the utilities provider’s stock worth $38,000 after buying an additional 351 shares during the period. Meeder Asset Management Inc. increased its position in NiSource by 2,080.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,897 shares of the utilities provider’s stock worth $55,000 after buying an additional 1,810 shares during the period. Finally, Steward Partners Investment Advisory LLC bought a new position in NiSource during the 2nd quarter worth $64,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.
Several research analysts have weighed in on the company. Zacks Investment Research cut NiSource from a “hold” rating to a “sell” rating and set a $30.00 price objective on the stock. in a research report on Wednesday, May 29th. Wolfe Research cut NiSource from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 5th. Credit Suisse Group cut NiSource from an “outperform” rating to a “neutral” rating in a research report on Wednesday, August 7th. Finally, Argus raised NiSource from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. NiSource currently has an average rating of “Hold” and an average price target of $28.32.
NiSource (NYSE:NI) last released its earnings results 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 company had revenue of $1.01 billion for the quarter, compared to analyst estimates 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 prior year, the firm posted $0.07 EPS. Analysts anticipate that NiSource Inc. will post 1.3 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Wednesday, October 30th. NiSource’s dividend payout ratio (DPR) is currently 61.54%.
In related news, Director Michael E. Jesanis sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $29.01, for a total value of $174,060.00. Following the sale, the director now directly owns 32,997 shares of the company’s stock, valued at $957,242.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Carrie J. Hightman sold 22,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $29.96, for a total value of $659,120.00. Following the completion of the sale, the executive vice president now directly owns 329,207 shares in the company, valued at $9,863,041.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 94,405 shares of company stock worth $2,768,990. 0.35% of the stock is currently owned by insiders.
NiSource Company Profile
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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