Electron Capital Partners LLC acquired a new position in shares of NiSource Inc. (NYSE:NI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,412,472 shares of the utilities provider’s stock, valued at approximately $36,258,000. NiSource comprises 6.1% of Electron Capital Partners LLC’s holdings, making the stock its 4th largest position. Electron Capital Partners LLC owned about 0.42% of NiSource at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Tortoise Investment Management LLC acquired a new position in shares of NiSource during the 3rd quarter worth about $113,000. Valeo Financial Advisors LLC bought a new stake in shares of NiSource in the 3rd quarter valued at about $114,000. FDx Advisors Inc. bought a new stake in shares of NiSource in the 3rd quarter valued at about $237,000. Krilogy Financial LLC raised its holdings in shares of NiSource by 1,032.1% in the 3rd quarter. Krilogy Financial LLC now owns 9,872 shares of the utilities provider’s stock valued at $253,000 after purchasing an additional 9,000 shares during the period. Finally, Trexquant Investment LP bought a new stake in shares of NiSource in the 3rd quarter valued at about $255,000. Institutional investors own 86.97% of the company’s stock.
A number of brokerages have recently issued reports on NI. Citigroup upped their target price on shares of NiSource from $28.00 to $31.00 and gave the company a “buy” rating in a report on Monday, November 20th. Zacks Investment Research cut shares of NiSource from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Edward Jones raised shares of NiSource from a “hold” rating to a “buy” rating in a report on Tuesday, January 9th. Jefferies Group reaffirmed a “hold” rating and issued a $26.00 target price on shares of NiSource in a report on Wednesday, December 20th. Finally, JPMorgan Chase & Co. dropped their target price on shares of NiSource from $28.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. NiSource presently has an average rating of “Buy” and a consensus price target of $27.41.
NiSource (NYSE:NI) last released its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.35 billion. NiSource had a net margin of 2.64% and a return on equity of 8.90%. During the same period in the prior year, the firm earned $0.33 EPS. equities research analysts anticipate that NiSource Inc. will post 1.29 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Friday, February 9th were issued a $0.195 dividend. This is a boost from NiSource’s previous quarterly dividend of $0.18. This represents a $0.78 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Thursday, February 8th. NiSource’s dividend payout ratio is currently 200.01%.
WARNING: “Electron Capital Partners LLC Takes $36.26 Million Position in NiSource Inc. (NI)” was published by American Banking News and is the property of of American Banking News. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international copyright and trademark law. The legal version of this report can be viewed at https://www.americanbankingnews.com/2018/03/12/electron-capital-partners-llc-takes-36-26-million-position-in-nisource-inc-ni.html.
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).
Receive News & Ratings for NiSource Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NiSource and related companies with MarketBeat.com's FREE daily email newsletter.