Bank of New York Mellon Corp boosted its position in NiSource Inc. (NYSE:NI) by 1.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,402,899 shares of the utilities provider’s stock after purchasing an additional 45,713 shares during the period. Bank of New York Mellon Corp owned about 0.94% of NiSource worth $89,429,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brown Advisory Inc. bought a new stake in NiSource in the first quarter valued at $280,000. DnB Asset Management AS boosted its holdings in NiSource by 8.1% in the second quarter. DnB Asset Management AS now owns 42,500 shares of the utilities provider’s stock valued at $1,117,000 after acquiring an additional 3,200 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in NiSource by 28.7% in the second quarter. IFM Investors Pty Ltd now owns 20,530 shares of the utilities provider’s stock valued at $540,000 after acquiring an additional 4,573 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in NiSource by 18.6% in the second quarter. State of Alaska Department of Revenue now owns 116,501 shares of the utilities provider’s stock valued at $3,061,000 after acquiring an additional 18,310 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in NiSource by 173.7% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 235,322 shares of the utilities provider’s stock valued at $6,184,000 after acquiring an additional 149,347 shares in the last quarter. 90.72% of the stock is owned by hedge funds and other institutional investors.
NI opened at $26.16 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.40 and a debt-to-equity ratio of 1.52. The stock has a market capitalization of $9.48 billion, a PE ratio of 21.62, a P/E/G ratio of 3.70 and a beta of 0.12. NiSource Inc. has a 1 year low of $22.44 and a 1 year high of $28.11.
NiSource (NYSE:NI) last posted its quarterly earnings results on Thursday, November 1st. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.04. The firm had revenue of $895.00 million during the quarter, compared to analyst estimates of $946.10 million. NiSource had a positive return on equity of 9.30% and a negative net margin of 1.82%. During the same quarter in the previous year, the firm earned $0.07 EPS. Sell-side analysts forecast that NiSource Inc. will post 1.29 earnings per share for the current fiscal year.
NI has been the topic of a number of research reports. Barclays dropped their target price on shares of NiSource from $27.00 to $26.00 and set a “hold” rating on the stock in a report on Tuesday, October 16th. Guggenheim restated a “buy” rating and set a $28.00 target price on shares of NiSource in a report on Monday, July 23rd. Goldman Sachs Group cut shares of NiSource from a “conviction-buy” rating to a “buy” rating and set a $29.00 target price on the stock. in a report on Friday, September 21st. KeyCorp dropped their target price on shares of NiSource from $28.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, October 5th. Finally, Bank of America restated a “buy” rating and set a $28.00 target price on shares of NiSource in a report on Monday, September 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $27.27.
In other news, CFO Donald Eugene Brown sold 2,400 shares of NiSource stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $26.18, for a total value of $62,832.00. Following the completion of the transaction, the chief financial officer now owns 46,767 shares of the company’s stock, valued at approximately $1,224,360.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.37% of the stock is owned by insiders.
NiSource Company Profile
NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation to residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and offers wholesale and transmission transaction services.
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