Schroder Investment Management Group Buys 958,344 Shares of NiSource Inc. (NI)
Schroder Investment Management Group grew its position in shares of NiSource Inc. (NYSE:NI) by 69.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,344,411 shares of the utilities provider’s stock after acquiring an additional 958,344 shares during the quarter. Schroder Investment Management Group owned about 0.70% of NiSource worth $60,181,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Tortoise Investment Management LLC acquired a new stake in shares of NiSource in the third quarter valued at about $113,000. First Quadrant L P CA acquired a new stake in shares of NiSource in the third quarter valued at about $114,000. Valeo Financial Advisors LLC acquired a new stake in shares of NiSource in the third quarter valued at about $114,000. Advisory Services Network LLC grew its stake in shares of NiSource by 4.4% in the second quarter. Advisory Services Network LLC now owns 4,740 shares of the utilities provider’s stock valued at $120,000 after buying an additional 200 shares in the last quarter. Finally, FDx Advisors Inc. acquired a new stake in shares of NiSource in the third quarter valued at about $237,000. Institutional investors own 86.97% of the company’s stock.
NI has been the subject of a number of recent research reports. Citigroup increased their target price on NiSource from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, November 20th. Edward Jones upgraded NiSource from a “hold” rating to a “buy” rating in a research note on Tuesday, January 9th. Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Thursday, January 4th. Goldman Sachs Group raised NiSource from a “neutral” rating to a “buy” rating and set a $23.00 price target for the company in a report on Wednesday, January 10th. Finally, Guggenheim reissued a “buy” rating and issued a $27.00 price target on shares of NiSource in a report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $27.41.
NiSource (NYSE:NI) last released its earnings results on Tuesday, February 20th. The utilities provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. NiSource had a negative return on equity of 4.84% and a negative net margin of 3.83%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the business posted $0.33 EPS. analysts anticipate that NiSource Inc. will post 1.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Friday, February 9th were issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date was Thursday, February 8th. This is an increase from NiSource’s previous quarterly dividend of $0.18. NiSource’s dividend payout ratio (DPR) is currently 200.01%.
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NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Company’s Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.
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