Comerica Bank increased its position in shares of NiSource Inc. (NYSE:NI) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 154,740 shares of the utilities provider’s stock after acquiring an additional 5,871 shares during the period. Comerica Bank’s holdings in NiSource were worth $4,042,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in NI. Piedmont Investment Advisors LLC acquired a new position in shares of NiSource in the 2nd quarter valued at $104,000. Optimum Investment Advisors acquired a new position in shares of NiSource in the 1st quarter valued at $121,000. Parallel Advisors LLC boosted its position in shares of NiSource by 286.6% in the 2nd quarter. Parallel Advisors LLC now owns 4,701 shares of the utilities provider’s stock valued at $123,000 after purchasing an additional 3,485 shares during the period. Peapack Gladstone Financial Corp acquired a new position in shares of NiSource in the 1st quarter valued at $210,000. Finally, Conning Inc. acquired a new position in shares of NiSource in the 2nd quarter valued at $218,000. 83.49% of the stock is currently owned by hedge funds and other institutional investors.
NI has been the subject of a number of recent analyst reports. Bank of America reiterated a “buy” rating and issued a $28.00 price target on shares of NiSource in a research report on Monday, May 7th. Zacks Investment Research lowered NiSource from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. JPMorgan Chase & Co. upgraded NiSource from a “neutral” rating to an “overweight” rating in a research report on Thursday, May 31st. ValuEngine lowered NiSource from a “hold” rating to a “sell” rating in a research report on Wednesday, June 6th. Finally, Guggenheim restated a “buy” rating and set a $28.00 price objective on shares of NiSource in a research report on Monday, July 23rd. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $26.70.
NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, August 1st. The utilities provider reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.02). NiSource had a return on equity of 9.19% and a net margin of 5.20%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $999.39 million. During the same quarter in the previous year, the business posted $0.10 earnings per share. equities analysts expect that NiSource Inc. will post 1.29 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Wednesday, October 31st will be given a dividend of $0.195 per share. The ex-dividend date is Tuesday, October 30th. This represents a $0.78 dividend on an annualized basis and a yield of 2.83%. NiSource’s payout ratio is presently 64.46%.
In other news, EVP Carrie J. Hightman sold 27,000 shares of NiSource stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $26.75, for a total transaction of $722,250.00. Following the completion of the sale, the executive vice president now directly owns 325,066 shares in the company, valued at approximately $8,695,515.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Donald Eugene Brown sold 2,400 shares of NiSource stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $26.50, for a total value of $63,600.00. Following the sale, the chief financial officer now owns 49,167 shares of the company’s stock, valued at $1,302,925.50. The disclosure for this sale can be found here. Insiders have sold a total of 36,132 shares of company stock valued at $951,928 over the last 90 days. Corporate insiders own 0.37% 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 to residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and offers wholesale and transmission transaction services.
Further Reading: Dividend
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