Hartford Investment Management Co. reduced its stake in NiSource Inc. (NYSE:NI – Get Rating ) by 6.8% during the first quarter, HoldingsChannel.com reports. The firm owned 36,831 shares of the utilities provider’s stock after selling 2,678 shares during the quarter. Hartford Investment Management Co.’s holdings. in NiSource were worth $1,171,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. raised its holdings in NiSource by 56.7% during the 4th quarter. Invesco Ltd. now owns 10,159,143 shares of the utilities provider’s stock valued at $280,495,000 after acquiring an additional 3,676,623 shares during the last quarter. National Bank of Canada FI purchased a new position in NiSource during the 4th quarter valued at approximately $53,597,000. Millennium Management LLC boosted its holdings in NiSource by 51.1% in the 4th quarter. Millennium Management LLC now owns 5,369,055 shares of the utilities provider’s stock valued at $148,240,000 after acquiring an additional 1,814,896 shares in the last quarter. Jennison Associates LLC boosted its holdings in NiSource by 91.2% in the 4th quarter. Jennison Associates LLC now owns 2,781,755 shares of the utilities provider’s stock valued at $76,804,000 after acquiring an additional 1,326,631 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in NiSource by 851.4% during the 4th quarter. Retirement Systems of Alabama now owns 1,282,024 shares of the utilities provider’s stock valued at $35,397,000 after acquiring an additional 1,147,268 shares in the last quarter. 95.49% of the shares are currently owned by hedge funds and other institutional investors.
NYSE:NI opened at $30.05 on Tuesday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.72, and a quick ratio of 0.62. The firm has a market cap of $12.19 billion, a price-to-earnings ratio of 19.64, a price-to-earnings-growth ratio of 2.89 and a beta of 0.38. NiSource Inc. has a one year low of $23.65 and a one year high of $32.58. The business has a fifty day moving average of $29.76 and a 200 day moving average of $29.48.
NiSource (NYSE:NI – Get Rating ) last posted its quarterly earnings data on Wednesday, May 4th. The utilities provider reported $0.75 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.01). The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.69 billion. NiSource had a return on equity of 11.34% and a net margin of 13.70%. During the same quarter last year, the company earned $0.77 earnings per share. On average, stock analysts expect NiSource Inc. to post 1.45 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Friday, July 29th will be given a $0.235 dividend. The ex-dividend date is Thursday, July 28th. This represents a $0.94 annual dividend and a dividend yield of 3.13%. NiSource’s dividend payout ratio (DPR) is 61.44%.
A number of brokerages have recently weighed in on NI. StockNews.com started coverage on shares of NiSource in a report on Thursday, March 31st. They issued a “hold” rating on the company. Wells Fargo & Company boosted their target price on shares of NiSource from $31.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, April 19th. Finally, Credit Suisse Group started coverage on shares of NiSource in a research note on Monday, April 25th. They set a “neutral” rating and a $32.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Moderate Buy” and a consensus target price of $31.40, according to MarketBeat.com.
NiSource profile (Get Rating)
NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 853,000 customers in northern Indiana, as well as approximately 2.4 million residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky and Maryland.
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