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MQS Management LLC Makes New Investment in NiSource, Inc (NYSE:NI)

NiSource logo with Utilities background

MQS Management LLC purchased a new position in shares of NiSource, Inc (NYSE:NI - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 14,406 shares of the utilities provider's stock, valued at approximately $578,000.

Several other large investors have also recently made changes to their positions in NI. Integrated Wealth Concepts LLC lifted its stake in shares of NiSource by 1.9% in the 4th quarter. Integrated Wealth Concepts LLC now owns 13,987 shares of the utilities provider's stock valued at $514,000 after purchasing an additional 256 shares in the last quarter. Resonant Capital Advisors LLC lifted its stake in shares of NiSource by 3.9% in the 1st quarter. Resonant Capital Advisors LLC now owns 7,448 shares of the utilities provider's stock valued at $299,000 after purchasing an additional 277 shares in the last quarter. Securian Asset Management Inc. grew its stake in shares of NiSource by 1.1% in the fourth quarter. Securian Asset Management Inc. now owns 25,087 shares of the utilities provider's stock valued at $922,000 after buying an additional 282 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC grew its stake in shares of NiSource by 4.2% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 7,303 shares of the utilities provider's stock valued at $268,000 after buying an additional 291 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of NiSource by 64.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the utilities provider's stock valued at $31,000 after buying an additional 299 shares in the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NI has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on NiSource from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. UBS Group lifted their price objective on NiSource from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, March 21st. Mizuho lifted their price objective on NiSource from $42.00 to $44.00 and gave the stock an "outperform" rating in a report on Wednesday, March 26th. Barclays lifted their price objective on NiSource from $38.00 to $42.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Finally, Guggenheim lifted their price objective on NiSource from $42.00 to $43.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, NiSource presently has a consensus rating of "Buy" and an average price target of $41.50.

Check Out Our Latest Stock Analysis on NI

Insiders Place Their Bets

In related news, Director Michael E. Jesanis sold 6,178 shares of NiSource stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $37.81, for a total value of $233,590.18. Following the transaction, the director directly owned 18,541 shares in the company, valued at $701,035.21. The trade was a 24.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Melanie B. Berman sold 6,227 shares of NiSource stock in a transaction on Friday, May 30th. The shares were sold at an average price of $39.42, for a total value of $245,468.34. Following the transaction, the executive vice president owned 28,882 shares in the company, valued at $1,138,528.44. This represents a 17.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,405 shares of company stock worth $631,939 over the last 90 days. Insiders own 0.24% of the company's stock.

NiSource Price Performance

Shares of NI stock traded up $0.28 during mid-day trading on Wednesday, hitting $40.15. 5,102,834 shares of the stock traded hands, compared to its average volume of 4,139,263. NiSource, Inc has a twelve month low of $30.06 and a twelve month high of $41.45. The firm has a market cap of $18.90 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 2.70 and a beta of 0.54. The company's 50-day simple moving average is $39.38 and its 200-day simple moving average is $38.86. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.45 and a current ratio of 0.52.

NiSource (NYSE:NI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.08. NiSource had a return on equity of 8.41% and a net margin of 14.67%. The company had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.32 billion. During the same period last year, the firm earned $0.85 EPS. As a group, equities research analysts expect that NiSource, Inc will post 1.91 earnings per share for the current year.

NiSource Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Thursday, July 31st will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, July 31st. NiSource's payout ratio is 60.54%.

NiSource Company Profile

(Free Report)

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.

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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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