Banco BTG Pactual S.A. Purchased $10.37 Million in NiSource Inc. (NI)

Banco BTG Pactual S.A. Purchased $10.37 Million in NiSource Inc. (NI)

Banco BTG Pactual S.A. purchased a new stake in NiSource Inc. (NYSE:NI) during the first quarter, Holdings Channel reports. The fund purchased 436,000 shares of the utilities provider’s stock, valued at approximately $10,372,000. NiSource accounts for about 3.4% of Banco BTG Pactual S.A.’s portfolio, making the stock its 5th largest position. Banco BTG Pactual S.A. owned about 0.13% of NiSource as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NI. ING Groep NV boosted its position in NiSource by 116.9% in the fourth quarter. ING Groep NV now owns 34,587 shares of the utilities provider’s stock worth $845,000 after buying an additional 18,640 shares during the last quarter. Comerica Bank boosted its position in NiSource by 2.3% in the fourth quarter. Comerica Bank now owns 162,397 shares of the utilities provider’s stock worth $3,566,000 after buying an additional 3,590 shares during the last quarter. Wesbanco Bank Inc. boosted its position in NiSource by 15.7% in the fourth quarter. Wesbanco Bank Inc. now owns 11,260 shares of the utilities provider’s stock worth $249,000 after buying an additional 1,525 shares during the last quarter. Cadence Capital Management LLC bought a new position in NiSource during the fourth quarter worth $472,000. Finally, Ffcm LLC bought a new position in NiSource during the fourth quarter worth $294,000. Institutional investors and hedge funds own 83.27% of the company’s stock.

NiSource Inc. (NI) traded up 0.42% during mid-day trading on Friday, reaching $26.35. 2,223,035 shares of the company’s stock were exchanged. NiSource Inc. has a one year low of $21.17 and a one year high of $26.94. The company’s 50-day moving average is $24.63 and its 200 day moving average is $23.16. The firm has a market capitalization of $8.55 billion, a P/E ratio of 24.09 and a beta of 0.29.

NiSource (NYSE:NI) last posted its quarterly earnings data on Wednesday, May 3rd. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.06. NiSource had a net margin of 6.87% and a return on equity of 8.76%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. Equities analysts predict that NiSource Inc. will post $1.18 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, July 31st will be issued a dividend of $0.175 per share. The ex-dividend date is Thursday, July 27th. This represents a $0.70 annualized dividend and a dividend yield of 2.66%. NiSource’s dividend payout ratio (DPR) is currently 76.09%.

A number of analysts recently commented on NI shares. Ladenburg Thalmann Financial Services started coverage on shares of NiSource in a research note on Friday, May 19th. They set a “buy” rating and a $27.00 price target on the stock. Zacks Investment Research upgraded shares of NiSource from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Friday, May 26th. Barclays PLC reaffirmed an “equal weight” rating and set a $26.00 target price (up previously from $25.00) on shares of NiSource in a report on Thursday. Zelman & Associates lowered shares of NiSource from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $23.00 price target on shares of NiSource in a report on Friday, March 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $25.68.

In other news, VP Joseph W. Mulpas sold 13,000 shares of the stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $23.28, for a total transaction of $302,640.00. Following the transaction, the vice president now owns 37,889 shares in the company, valued at approximately $882,055.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Carrie J. Hightman sold 24,000 shares of the stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $23.28, for a total value of $558,720.00. Following the transaction, the executive vice president now owns 409,199 shares in the company, valued at approximately $9,526,152.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,981 shares of company stock worth $3,053,139. Corporate insiders own 0.32% of the company’s stock.

About NiSource

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding NI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NiSource Inc. (NYSE:NI).

Related posts

Leave a Comment