Cbre Clarion Securities LLC Takes $4.97 Million Position in NiSource Inc. (NYSE:NI)
Cbre Clarion Securities LLC acquired a new stake in NiSource Inc. (NYSE:NI) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 198,869 shares of the utilities provider’s stock, valued at approximately $4,966,000. Cbre Clarion Securities LLC owned approximately 0.05% of NiSource as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its stake in shares of NiSource by 312.2% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 1,047 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 793 shares in the last quarter. NEXT Financial Group Inc bought a new position in shares of NiSource in the first quarter valued at $27,000. Archer Investment Corp bought a new position in shares of NiSource in the fourth quarter valued at $29,000. Sowell Financial Services LLC bought a new position in shares of NiSource in the first quarter valued at $30,000. Finally, Great Diamond Partners LLC bought a new position in shares of NiSource in the fourth quarter valued at $33,000. Institutional investors own 90.11% of the company’s stock.
Several equities analysts recently weighed in on NI shares. BMO Capital Markets started coverage on shares of NiSource in a research note on Wednesday, February 19th. They issued an “outperform” rating and a $32.00 target price for the company. Wolfe Research reissued a “market perform” rating and issued a $26.00 target price on shares of NiSource in a research note on Friday, May 15th. Credit Suisse Group reaffirmed a “buy” rating and set a $27.00 price objective on shares of NiSource in a research report on Wednesday, May 6th. UBS Group reduced their price objective on shares of NiSource from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Finally, Bank of America cut shares of NiSource from a “buy” rating to a “neutral” rating in a research report on Thursday, April 30th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $28.70.
NiSource (NYSE:NI) last posted its earnings results on Wednesday, May 6th. The utilities provider reported $0.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.04). NiSource had a return on equity of 9.54% and a net margin of 4.85%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period in the prior year, the business posted $0.82 EPS. As a group, analysts predict that NiSource Inc. will post 1.3 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, July 31st will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Thursday, July 30th. NiSource’s dividend payout ratio (DPR) is presently 63.64%.
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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