Jefferies Group LLC boosted its holdings in NiSource Inc. (NYSE:NI) by 170.8% during the 4th quarter, HoldingsChannel reports. The fund owned 90,135 shares of the utilities provider’s stock after buying an additional 56,847 shares during the period. Jefferies Group LLC’s holdings in NiSource were worth $2,314,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Tortoise Investment Management LLC bought a new position in NiSource in the 3rd quarter valued at approximately $113,000. Valeo Financial Advisors LLC bought a new position in NiSource in the 3rd quarter valued at approximately $114,000. FDx Advisors Inc. bought a new position in NiSource in the 3rd quarter valued at approximately $237,000. Krilogy Financial LLC lifted its position in NiSource by 1,032.1% in the 3rd quarter. Krilogy Financial LLC now owns 9,872 shares of the utilities provider’s stock valued at $253,000 after acquiring an additional 9,000 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in NiSource in the 3rd quarter valued at approximately $255,000. 86.97% of the stock is currently owned by institutional investors and hedge funds.
NI has been the topic of several analyst reports. Citigroup upped their price objective on NiSource from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, November 20th. Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Tuesday, January 16th. Jefferies Group reaffirmed a “hold” rating and issued a $26.00 price objective on shares of NiSource in a research report on Wednesday, December 20th. Goldman Sachs Group raised NiSource from a “neutral” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Wednesday, January 10th. Finally, Guggenheim reissued a “buy” rating and set 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 stock. The company currently has a consensus rating of “Buy” and a consensus price target of $27.41.
NiSource (NYSE:NI) last released its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.35 billion. NiSource had a return on equity of 8.90% and a net margin of 2.64%. During the same period in the prior year, the firm earned $0.33 EPS. sell-side analysts predict that NiSource Inc. will post 1.29 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Friday, February 9th were issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 3.37%. This is a boost from NiSource’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, February 8th. NiSource’s dividend payout ratio is presently 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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