Savant Capital LLC bought a new stake in NiSource Inc. (NYSE:NI – Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,402 shares of the utilities provider’s stock, valued at approximately $291,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. raised its holdings in shares of NiSource by 67.7% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,075 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 434 shares during the period. Allworth Financial LP raised its holdings in shares of NiSource by 161.0% in the 1st quarter. Allworth Financial LP now owns 1,099 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 678 shares during the period. Achmea Investment Management B.V. bought a new position in NiSource in the 1st quarter valued at about $33,000. US Asset Management LLC bought a new position in NiSource in the 4th quarter valued at about $38,000. Finally, Delta Asset Management LLC TN bought a new position in NiSource in the 4th quarter valued at about $40,000. 93.18% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, SVP Kimberly S. Cuccia sold 11,157 shares of the stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $28.54, for a total transaction of $318,420.78. Following the sale, the senior vice president now owns 20,329 shares in the company, valued at approximately $580,189.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is currently owned by company insiders.
NiSource Stock Up 0.1 %
NiSource (NYSE:NI – Get Free Report) last posted its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.77. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.94 billion. NiSource had a net margin of 11.72% and a return on equity of 11.14%. During the same quarter last year, the business posted $0.75 EPS. Equities research analysts forecast that NiSource Inc. will post 1.59 EPS for the current year.
NiSource Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, July 31st will be given a dividend of $0.25 per share. The ex-dividend date is Friday, July 28th. This represents a $1.00 annualized dividend and a dividend yield of 3.60%. NiSource’s dividend payout ratio is 68.03%.
Analyst Ratings Changes
Several research firms have weighed in on NI. Guggenheim lowered their price target on shares of NiSource from $31.00 to $30.00 in a report on Friday, July 7th. BMO Capital Markets lowered their price target on shares of NiSource from $31.00 to $30.00 in a report on Wednesday, June 21st. Bank of America lowered their price target on shares of NiSource from $32.00 to $31.00 in a report on Thursday, June 22nd. Evercore ISI lowered their price target on shares of NiSource from $31.00 to $30.00 in a report on Wednesday, June 21st. Finally, StockNews.com started coverage on shares of NiSource in a report on Thursday, May 18th. They set a “hold” rating on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.
About NiSource
NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates through two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 859,000 customers in northern Indiana, as well as approximately 2.4 million residential, commercial, and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.
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