Everence Capital Management Inc. decreased its holdings in shares of NiSource Inc. (NYSE:NI) by 47.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,270 shares of the utilities provider’s stock after selling 6,600 shares during the quarter. Everence Capital Management Inc.’s holdings in NiSource were worth $208,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in NiSource by 34.7% during the third quarter. JPMorgan Chase & Co. now owns 12,869,201 shares of the utilities provider’s stock worth $320,701,000 after purchasing an additional 3,317,125 shares in the last quarter. Legal & General Group Plc lifted its stake in NiSource by 6.0% during the third quarter. Legal & General Group Plc now owns 3,381,174 shares of the utilities provider’s stock worth $84,243,000 after purchasing an additional 190,141 shares in the last quarter. Vanguard Group Inc lifted its stake in NiSource by 3.9% during the third quarter. Vanguard Group Inc now owns 39,886,268 shares of the utilities provider’s stock worth $993,966,000 after purchasing an additional 1,483,703 shares in the last quarter. Capital Investment Advisors LLC acquired a new position in NiSource during the fourth quarter worth $209,000. Finally, Strs Ohio lifted its stake in NiSource by 11.1% during the fourth quarter. Strs Ohio now owns 79,420 shares of the utilities provider’s stock worth $2,013,000 after purchasing an additional 7,934 shares in the last quarter. Institutional investors own 94.09% of the company’s stock.
A number of research firms have commented on NI. Zacks Investment Research upgraded NiSource from a “sell” rating to a “hold” rating in a research note on Monday. TheStreet upgraded NiSource from a “c+” rating to a “b-” rating in a research note on Monday, May 13th. Goldman Sachs Group upgraded NiSource from a “neutral” rating to a “buy” rating and upped their price target for the stock from $26.00 to $29.00 in a research note on Monday, April 8th. ValuEngine cut NiSource from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, Bank of America cut NiSource from a “buy” rating to a “neutral” rating and set a $27.37 price objective on the stock. in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. NiSource presently has an average rating of “Hold” and an average target price of $27.87.
NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.84 billion. NiSource had a positive return on equity of 10.76% and a negative net margin of 2.06%. During the same period last year, the firm earned $0.77 earnings per share. As a group, analysts anticipate that NiSource Inc. will post 1.3 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Wednesday, July 31st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Tuesday, July 30th. NiSource’s payout ratio is currently 61.54%.
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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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