Ameriprise Financial Inc. Boosts Position in NiSource, Inc (NI)

Ameriprise Financial Inc. raised its stake in shares of NiSource, Inc (NYSE:NI) by 34.7% during the first quarter, Holdings Channel reports. The firm owned 441,046 shares of the utilities provider’s stock after buying an additional 113,613 shares during the period. Ameriprise Financial Inc. owned about 0.14% of NiSource worth $10,493,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. WFG Advisors LP increased its stake in NiSource by 14,596.4% in the fourth quarter. WFG Advisors LP now owns 4,115 shares of the utilities provider’s stock valued at $104,000 after buying an additional 4,087 shares during the period. Advisory Services Network LLC acquired a new stake in NiSource during the first quarter valued at approximately $108,000. First Financial Corp IN acquired a new stake in NiSource during the first quarter valued at approximately $124,000. TCI Wealth Advisors Inc. increased its stake in NiSource by 0.4% in the first quarter. TCI Wealth Advisors Inc. now owns 6,054 shares of the utilities provider’s stock valued at $144,000 after buying an additional 27 shares during the period. Finally, LSV Asset Management acquired a new stake in NiSource during the first quarter valued at approximately $159,000. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Institutional Ownership by Quarter for NiSource (NYSE:NI)

NiSource, Inc (NYSE:NI) opened at 26.06 on Friday. The stock has a market cap of $8.46 billion, a P/E ratio of 23.82 and a beta of 0.34. The firm’s 50-day moving average is $25.14 and its 200-day moving average is $23.45. NiSource, Inc has a 12 month low of $21.17 and a 12 month high of $26.94.

NiSource (NYSE:NI) last announced its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.06. NiSource had a net margin of 7.65% and a return on equity of 9.18%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. On average, equities analysts forecast that NiSource, Inc will post $1.18 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, July 31st will be issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Thursday, July 27th. NiSource’s dividend payout ratio (DPR) is 64.22%.

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Several research firms recently commented on NI. Zacks Investment Research downgraded shares of NiSource from a “buy” rating to a “hold” rating in a research report on Monday, June 12th. Barclays PLC reiterated an “equal weight” rating and issued a $26.00 price target (up previously from $25.00) on shares of NiSource in a research report on Thursday, June 1st. Ladenburg Thalmann Financial Services began coverage on shares of NiSource in a research report on Friday, May 19th. They issued a “buy” rating and a $27.00 price target for the company. Zelman & Associates downgraded shares of NiSource from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $23.00 price target on shares of NiSource in a research report on Friday, March 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. NiSource currently has a consensus rating of “Hold” and an average price target of $25.68.

In other news, CFO Donald Eugene Brown sold 6,906 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $25.51, for a total transaction of $176,172.06. Following the completion of the transaction, the chief financial officer now owns 141,168 shares of the company’s stock, valued at $3,601,195.68. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Jimmie L. Stanley sold 37,325 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $24.11, for a total transaction of $899,905.75. Following the transaction, the chief operating officer now directly owns 315,471 shares of the company’s stock, valued at approximately $7,606,005.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,981 shares of company stock valued at $2,191,779. Corporate insiders own 0.32% of the company’s stock.

NiSource Company Profile

NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Company’s Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.

Want to see what other hedge funds are holding NI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NiSource, Inc (NYSE:NI).

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