Vanguard Group Inc. Boosts Stake in NiSource Inc. (NYSE:NI)

Vanguard Group Inc. boosted its position in shares of NiSource Inc. (NYSE:NI) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,919,551 shares of the utilities provider’s stock after purchasing an additional 432,831 shares during the period. Vanguard Group Inc. owned approximately 0.11% of NiSource worth $1,100,529,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in shares of NiSource by 5.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 63,288,086 shares of the utilities provider’s stock valued at $1,525,876,000 after acquiring an additional 3,038,914 shares during the period. BlackRock Inc. raised its position in NiSource by 3.7% in the 2nd quarter. BlackRock Inc. now owns 46,592,370 shares of the utilities provider’s stock valued at $1,141,512,000 after purchasing an additional 1,663,283 shares during the last quarter. Deutsche Bank AG raised its position in NiSource by 32.7% during the 2nd quarter. Deutsche Bank AG now owns 18,903,542 shares of the utilities provider’s stock worth $463,136,000 after buying an additional 4,654,683 shares during the last quarter. FMR LLC increased its holdings in shares of NiSource by 5.9% in the 2nd quarter. FMR LLC now owns 9,531,053 shares of the utilities provider’s stock valued at $233,511,000 after purchasing an additional 533,631 shares in the last quarter. Finally, Maple Brown Abbott Ltd boosted its stake in shares of NiSource by 5.6% during the 2nd quarter. Maple Brown Abbott Ltd now owns 7,259,598 shares of the utilities provider’s stock worth $177,860,000 after purchasing an additional 382,810 shares during the last quarter. 93.62% of the stock is currently owned by institutional investors.

In other NiSource news, CFO Donald Eugene Brown sold 19,762 shares of the company’s stock in a transaction dated Friday, August 20th. The stock was sold at an average price of $25.68, for a total value of $507,488.16. Following the sale, the chief financial officer now owns 145,938 shares in the company, valued at approximately $3,747,687.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.37% of the company’s stock.

A number of research firms have recently weighed in on NI. Zacks Investment Research raised shares of NiSource from a “sell” rating to a “hold” rating and set a $27.00 price target for the company in a research report on Tuesday, July 27th. The Goldman Sachs Group raised NiSource from a “neutral” rating to a “buy” rating and boosted their price target for the company from $27.00 to $29.00 in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $27.43.

Shares of NI opened at $24.69 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.81 and a debt-to-equity ratio of 1.88. NiSource Inc. has a 12-month low of $21.09 and a 12-month high of $26.60. The firm has a market capitalization of $9.69 billion, a PE ratio of 47.48, a price-to-earnings-growth ratio of 2.96 and a beta of 0.32. The stock’s fifty day simple moving average is $24.76 and its 200-day simple moving average is $25.11.

NiSource (NYSE:NI) last released its quarterly earnings results on Wednesday, August 4th. The utilities provider reported $0.13 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.13. The company had revenue of $986.00 million for the quarter, compared to analyst estimates of $1.04 billion. NiSource had a return on equity of 11.57% and a net margin of 5.75%. During the same quarter last year, the firm posted $0.13 earnings per share. Analysts anticipate that NiSource Inc. will post 1.35 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 19th. Shareholders of record on Friday, October 29th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, October 28th. This represents a $0.88 annualized dividend and a yield of 3.56%. NiSource’s dividend payout ratio is presently 66.67%.

NiSource Profile

NiSource, Inc is a holding company, which engages in energy solutions. Through its subsidiaries, it provides natural gas, electricity, and other products and services. It operates through the following segments: Gas Distribution Operations and Electric Operations. The Gas Distribution Operations segment focuses in the natural gas service and transportation for residential, commercial, and industrial customers.

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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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