JPMorgan Chase & Co. increased its stake in shares of NiSource Inc. (NYSE:NI) by 3.9% in the 1st quarter, Holdings Channel reports. The firm owned 15,148,835 shares of the utilities provider’s stock after purchasing an additional 567,988 shares during the period. JPMorgan Chase & Co.’s holdings in NiSource were worth $434,165,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in NI. Man Group plc purchased a new stake in shares of NiSource in the 3rd quarter worth approximately $635,000. Legal & General Group Plc grew its stake in shares of NiSource by 6.0% in the 3rd quarter. Legal & General Group Plc now owns 3,381,174 shares of the utilities provider’s stock worth $84,243,000 after buying an additional 190,141 shares during the last quarter. Vanguard Group Inc grew its stake in shares of NiSource by 3.9% in the 3rd quarter. Vanguard Group Inc now owns 39,886,268 shares of the utilities provider’s stock worth $993,966,000 after buying an additional 1,483,703 shares during the last quarter. Capital Investment Advisors LLC purchased a new stake in shares of NiSource in the 4th quarter worth approximately $209,000. Finally, Strs Ohio grew its stake in shares of NiSource by 11.1% in the 4th quarter. Strs Ohio now owns 79,420 shares of the utilities provider’s stock worth $2,013,000 after buying an additional 7,934 shares during the last quarter. Hedge funds and other institutional investors own 94.09% of the company’s stock.
Several brokerages have commented on NI. Zacks Investment Research upgraded NiSource from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. TheStreet upgraded NiSource from a “c+” rating to a “b-” rating in a research note on Monday, May 13th. KeyCorp reiterated a “buy” rating and set a $28.50 target price on shares of NiSource in a research note on Tuesday, February 5th. ValuEngine downgraded NiSource from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, Bank of America downgraded NiSource from a “buy” rating to a “neutral” rating and set a $27.37 target price on the stock. in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. NiSource has a consensus rating of “Hold” and an average price target of $27.87.
NiSource (NYSE:NI) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.84 billion. NiSource had a positive return on equity of 10.76% and a negative net margin of 2.06%. During the same period in the prior year, the firm earned $0.77 EPS. On average, equities research analysts expect that NiSource Inc. will post 1.3 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Wednesday, July 31st will be issued a $0.20 dividend. The ex-dividend date is Tuesday, July 30th. This represents a $0.80 dividend on an annualized basis and a yield of 2.83%. NiSource’s dividend payout ratio is currently 61.54%.
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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.
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