Shell Asset Management Co. lowered its position in shares of NiSource Inc. (NYSE:NI) by 26.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,009 shares of the company’s stock after selling 7,938 shares during the period. Shell Asset Management Co.’s holdings in NiSource were worth $531,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of NI. Robeco Institutional Asset Management B.V. boosted its stake in shares of NiSource by 50.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 378,212 shares of the company’s stock worth $10,029,000 after buying an additional 126,208 shares in the last quarter. Candriam Luxembourg S.C.A. acquired a new stake in shares of NiSource during the second quarter worth approximately $14,518,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of NiSource during the second quarter worth approximately $23,356,000. Geode Capital Management LLC boosted its stake in shares of NiSource by 6.1% in the first quarter. Geode Capital Management LLC now owns 2,843,274 shares of the company’s stock worth $66,889,000 after buying an additional 162,206 shares in the last quarter. Finally, Gulf International Bank UK Ltd acquired a new stake in shares of NiSource during the second quarter worth approximately $2,789,000. Institutional investors own 82.30% of the company’s stock.
NiSource Inc. (NYSE:NI) opened at 22.53 on Friday. NiSource Inc. has a 52-week low of $18.60 and a 52-week high of $26.94. The firm’s 50-day moving average is $23.47 and its 200 day moving average is $24.32. The company has a market cap of $7.26 billion, a price-to-earnings ratio of 27.41 and a beta of 0.25.
NiSource (NYSE:NI) last released its earnings results on Tuesday, August 2nd. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.01. NiSource had a net margin of 6.18% and a return on equity of 8.75%. During the same quarter last year, the business earned $0.18 EPS. On average, equities research analysts predict that NiSource Inc. will post $1.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Investors of record on Monday, October 31st will be paid a dividend of $0.165 per share. The ex-dividend date is Thursday, October 27th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.93%. NiSource’s payout ratio is 80.49%.
A number of brokerages recently weighed in on NI. Zacks Investment Research lowered shares of NiSource from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. JPMorgan Chase & Co. restated a “hold” rating and set a $26.00 target price on shares of NiSource in a research report on Wednesday, August 3rd. Credit Suisse Group AG set a $25.00 target price on shares of NiSource and gave the stock a “hold” rating in a research report on Monday, August 8th. Argus restated a “hold” rating on shares of NiSource in a research report on Monday, July 11th. Finally, KeyCorp set a $27.00 target price on shares of NiSource and gave the stock a “buy” rating in a research report on Monday, September 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. NiSource presently has a consensus rating of “Hold” and an average target price of $25.09.
In related news, VP Teresa M. Smith sold 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, August 31st. The shares were 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 $899,721.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.32% of the company’s stock.
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.