DnB Asset Management AS boosted its position in NiSource Inc. (NYSE:NI – Get Rating) by 0.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,523 shares of the utilities provider’s stock after purchasing an additional 495 shares during the quarter. DnB Asset Management AS’s holdings in NiSource were worth $2,168,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in NI. Rise Advisors LLC bought a new stake in NiSource in the 4th quarter valued at $32,000. Gradient Investments LLC acquired a new position in NiSource in the 1st quarter valued at $32,000. Achmea Investment Management B.V. acquired a new position in NiSource in the 1st quarter valued at $33,000. Elequin Capital LP acquired a new position in NiSource in the 1st quarter valued at $41,000. Finally, US Asset Management LLC acquired a new position in NiSource in the 1st quarter valued at $44,000. 95.79% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have weighed in on NI. Barclays dropped their price objective on NiSource from $35.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, July 18th. Edward Jones raised NiSource from a “hold” rating to a “buy” rating in a report on Wednesday, July 27th. Evercore ISI lifted their price objective on NiSource to $33.00 in a report on Tuesday, August 9th. Finally, BMO Capital Markets lifted their price objective on NiSource from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, August 4th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, NiSource currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.29.
NiSource Price Performance
NiSource (NYSE:NI – Get Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The utilities provider reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). NiSource had a return on equity of 10.57% and a net margin of 13.07%. During the same period last year, the firm posted $0.13 EPS. On average, sell-side analysts expect that NiSource Inc. will post 1.44 earnings per share for the current fiscal year.
NiSource Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Monday, October 31st will be given a $0.235 dividend. The ex-dividend date of this dividend is Friday, October 28th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 3.31%. NiSource’s dividend payout ratio (DPR) is presently 61.04%.
NiSource Company Profile
NiSource, Inc is a holding company, which engages in energy solutions. Through its subsidiaries, it provides natural gas, electricity, and other products and services. It operates through the following segments: Gas Distribution Operations and Electric Operations. The Gas Distribution Operations segment focuses on natural gas service and transportation for residential, commercial, and industrial customers.
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