Michael E. Jesanis Buys 2,000 Shares of NiSource, Inc (NI) Stock
NiSource, Inc (NYSE:NI) Director Michael E. Jesanis bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were bought at an average price of $26.44 per share, for a total transaction of $52,880.00. Following the acquisition, the director now directly owns 34,195 shares of the company’s stock, valued at approximately $904,115.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of NiSource, Inc (NI) traded up 0.08% during trading on Tuesday, reaching $26.66. The company’s stock had a trading volume of 1,537,483 shares. The stock’s 50 day moving average price is $25.90 and its 200-day moving average price is $24.56. The firm has a market cap of $8.69 billion, a PE ratio of 30.93 and a beta of 0.37. NiSource, Inc has a 12 month low of $21.17 and a 12 month high of $26.78.
NiSource (NYSE:NI) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. NiSource had a net margin of 5.96% and a return on equity of 9.17%. The firm had revenue of $990.70 million for the quarter, compared to analysts’ expectations of $934.95 million. During the same quarter last year, the firm earned $0.09 EPS. Equities analysts predict that NiSource, Inc will post $1.19 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.70 annualized dividend and a dividend yield of 2.63%. NiSource’s dividend payout ratio is currently 81.40%.
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Several large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of NiSource by 2.4% in the second quarter. Vanguard Group Inc. now owns 33,914,394 shares of the utilities provider’s stock valued at $860,069,000 after buying an additional 802,824 shares during the last quarter. BlackRock Inc. raised its stake in shares of NiSource by 2,428.6% in the first quarter. BlackRock Inc. now owns 23,705,566 shares of the utilities provider’s stock valued at $563,954,000 after buying an additional 22,768,084 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of NiSource by 70.3% in the first quarter. JPMorgan Chase & Co. now owns 17,428,785 shares of the utilities provider’s stock valued at $414,632,000 after buying an additional 7,194,018 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of NiSource by 32.8% in the second quarter. Alliancebernstein L.P. now owns 10,831,595 shares of the utilities provider’s stock valued at $274,689,000 after buying an additional 2,675,042 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its stake in shares of NiSource by 59.8% in the second quarter. Neuberger Berman Group LLC now owns 3,707,119 shares of the utilities provider’s stock valued at $94,013,000 after buying an additional 1,387,190 shares during the last quarter. Institutional investors own 82.21% of the company’s stock.
NI has been the topic of several analyst reports. Zacks Investment Research upgraded NiSource from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Thursday, June 1st. Zelman & Associates lowered NiSource from a “buy” rating to a “hold” rating in a report on Tuesday, May 30th. Ladenburg Thalmann Financial Services initiated coverage on NiSource in a report on Friday, May 19th. They set a “buy” rating and a $27.00 target price on the stock. Barclays PLC reiterated an “equal weight” rating and set a $26.00 target price (up previously from $25.00) on shares of NiSource in a report on Thursday, June 1st. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $23.00 target price on shares of NiSource in a report on Friday, July 14th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $26.33.
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.
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