Keybank National Association OH decreased its holdings in NiSource Inc. (NYSE:NI) by 25.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 95,705 shares of the utilities provider’s stock after selling 32,864 shares during the quarter. Keybank National Association OH’s holdings in NiSource were worth $2,106,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Costello Asset Management INC bought a new position in NiSource during the 2nd quarter worth approximately $34,000. Harbor Investment Advisory LLC acquired a new stake in shares of NiSource during the third quarter worth $33,000. Orion Portfolio Solutions LLC raised its stake in NiSource by 25.1% during the second quarter. Orion Portfolio Solutions LLC now owns 2,508 shares of the utilities provider’s stock worth $57,000 after buying an additional 503 shares during the last quarter. Cerebellum GP LLC acquired a new position in NiSource in the third quarter valued at $57,000. Finally, NuWave Investment Management LLC bought a new stake in NiSource during the second quarter valued at $63,000. Institutional investors and hedge funds own 88.34% of the company’s stock.
In other news, SVP Charles Edward Shafer II sold 1,650 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $22.50, for a total value of $37,125.00. Following the completion of the sale, the senior vice president now directly owns 14,985 shares of the company’s stock, valued at $337,162.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.
NYSE NI opened at $23.45 on Tuesday. The company has a market cap of $8.98 billion, a P/E ratio of -73.28, a PEG ratio of 3.35 and a beta of 0.27. The company has a fifty day simple moving average of $22.72 and a 200 day simple moving average of $23.48. The company has a current ratio of 0.89, a quick ratio of 0.79 and a debt-to-equity ratio of 1.84. NiSource Inc. has a 12-month low of $19.56 and a 12-month high of $30.46.
NiSource (NYSE:NI) last released its quarterly earnings data on Monday, November 2nd. The utilities provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. NiSource had a negative net margin of 1.26% and a positive return on equity of 10.32%. Sell-side analysts predict that NiSource Inc. will post 1.28 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, October 30th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, October 29th. This represents a $0.84 dividend on an annualized basis and a yield of 3.58%. NiSource’s dividend payout ratio (DPR) is currently 63.64%.
Several research analysts have recently weighed in on the company. BMO Capital Markets lowered their price objective on NiSource from $27.00 to $24.00 and set an “outperform” rating for the company in a research report on Monday, September 28th. Bank of America upgraded NiSource from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a report on Monday, October 19th. Jefferies Financial Group upgraded NiSource from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Wednesday, September 23rd. Credit Suisse Group lowered their price objective on shares of NiSource from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday, July 20th. Finally, Zacks Investment Research raised shares of NiSource from a “sell” rating to a “hold” rating and set a $23.00 target price on the stock in a research note on Wednesday, September 23rd. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $25.80.
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 for residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and wholesale and transmission transaction services.
Read More: Float
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.