Moody National Bank Trust Division decreased its position in NiSource Inc. (NYSE:NI) by 1.3% during the second quarter, Holdings Channel reports. The fund owned 23,379 shares of the company’s stock after selling 300 shares during the period. Moody National Bank Trust Division’s holdings in NiSource were worth $620,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Wedbush Securities Inc. bought a new position in shares of NiSource during the second quarter valued at approximately $218,000. Hanlon Investment Management Inc. raised its position in shares of NiSource by 20.9% in the second quarter. Hanlon Investment Management Inc. now owns 259,945 shares of the company’s stock valued at $6,894,000 after buying an additional 45,005 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of NiSource during the second quarter valued at approximately $473,000. World Asset Management Inc raised its position in shares of NiSource by 1.7% in the second quarter. World Asset Management Inc now owns 33,328 shares of the company’s stock valued at $884,000 after buying an additional 556 shares in the last quarter. Finally, Mizuho Trust & Banking Co. Ltd. bought a new position in shares of NiSource during the second quarter valued at approximately $13,539,000. Hedge funds and other institutional investors own 82.30% of the company’s stock.
NiSource Inc. (NYSE:NI) traded up 0.22% during midday trading on Friday, reaching $22.53. The company’s stock had a trading volume of 1,542,506 shares. The company’s 50-day moving average price is $23.47 and its 200-day moving average price is $24.32. NiSource Inc. has a 1-year low of $18.60 and a 1-year high of $26.94. The company has a market capitalization of $7.26 billion, a price-to-earnings ratio of 27.41 and a beta of 0.25.
NiSource (NYSE:NI) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. NiSource had a return on equity of 8.75% and a net margin of 6.18%. During the same quarter in the prior year, the firm posted $0.18 EPS. On average, analysts predict that NiSource Inc. will post $1.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Monday, October 31st will be issued a dividend of $0.165 per share. The ex-dividend date is Thursday, October 27th. This represents a $0.66 annualized dividend and a yield of 2.93%. NiSource’s dividend payout ratio is presently 80.49%.
Several equities research analysts have recently weighed in on the company. Jefferies Group raised NiSource from an “underperform” rating to a “hold” rating in a report on Thursday, October 13th. Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Friday, September 23rd. KeyCorp set a $27.00 price objective on NiSource and gave the company a “buy” rating in a report on Monday, September 12th. Credit Suisse Group AG downgraded NiSource from a “neutral” rating to an “underperform” rating and set a $25.00 price objective for the company. in a report on Friday, August 19th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. reissued a “hold” rating and issued a $26.00 price objective on shares of NiSource in a report on Wednesday, August 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $25.09.
In other NiSource news, VP Teresa M. Smith sold 1,200 shares of NiSource stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $23.75, for a total transaction of $28,500.00. Following the sale, the vice president now directly owns 37,883 shares in the company, valued at approximately $899,721.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company 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 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.