Strategy Asset Managers LLC Takes Position in NiSource, Inc (NYSE:NI)

Key Points

• Strategy Asset Managers LLC purchased 16,604 shares of NiSource, Inc (NYSE:NI), valued at approximately $666,000, indicating strong interest from institutional investors.
• NiSource reported a net margin of 14.67% and earnings of $0.98 per share for the last quarter, surpassing estimates and showing growth compared to last year's earnings.
• The company announced a quarterly dividend of $0.28 per share, reflecting a yield of 2.6% with a payout ratio of 60.54%, appealing to income-focused investors.

Strategy Asset Managers LLC acquired a new position in shares of NiSource, Inc (NYSE:NI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 16,604 shares of the utilities provider's stock, valued at approximately $666,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Hemington Wealth Management boosted its position in shares of NiSource by 39.4% during the first quarter. Hemington Wealth Management now owns 1,551 shares of the utilities provider's stock valued at $62,000 after buying an additional 438 shares during the period. Vanguard Group Inc. lifted its stake in shares of NiSource by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 60,844,001 shares of the utilities provider's stock worth $2,439,236,000 after acquiring an additional 3,050,420 shares during the last quarter. iA Global Asset Management Inc. bought a new stake in shares of NiSource during the 1st quarter worth approximately $1,006,000. ABC Arbitrage SA purchased a new position in NiSource during the 1st quarter valued at $737,000. Finally, Reaves W H & Co. Inc. grew its position in NiSource by 3.2% in the 1st quarter. Reaves W H & Co. Inc. now owns 4,153,470 shares of the utilities provider's stock valued at $166,513,000 after acquiring an additional 127,066 shares during the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NiSource

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

Analyst Upgrades and Downgrades

NI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their target price on NiSource from $42.00 to $43.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Wells Fargo & Company raised their price target on shares of NiSource from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Barclays reaffirmed an "overweight" rating and issued a $44.00 price target (up previously from $42.00) on shares of NiSource in a research note on Monday. BMO Capital Markets boosted their price objective on shares of NiSource from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Finally, Guggenheim upped their target price on shares of NiSource from $42.00 to $43.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, NiSource has a consensus rating of "Buy" and a consensus price target of $41.70.

NiSource Stock Down 0.3%

NiSource stock traded down $0.11 during midday trading on Friday, hitting $42.26. 3,851,050 shares of the company's stock were exchanged, compared to its average volume of 4,466,903. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.45 and a current ratio of 0.59. The company has a market cap of $19.89 billion, a PE ratio of 22.48, a P/E/G ratio of 2.86 and a beta of 0.53. The firm has a 50-day moving average of $40.43 and a two-hundred day moving average of $39.47. NiSource, Inc has a 12 month low of $30.66 and a 12 month high of $43.51.

NiSource (NYSE:NI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. NiSource had a net margin of 14.46% and a return on equity of 8.25%. The firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the prior year, the company earned $0.21 EPS. As a group, analysts expect that NiSource, Inc will post 1.91 earnings per share for the current fiscal year.

NiSource Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Thursday, July 31st will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, July 31st. NiSource's dividend payout ratio (DPR) is 60.54%.

NiSource Company Profile

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.