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Aberdeen Group plc Grows Stock Position in NiSource, Inc $NI

NiSource logo with Utilities background

Key Points

  • Aberdeen Group plc increased its stake in NiSource, Inc by 18.5%, owning 310,284 shares worth approximately $12.5 million as of their latest SEC filing.
  • NiSource announced a quarterly dividend of $0.28 per share, with an annualized yield of 2.6%, set to be paid on November 20th to shareholders of record by October 31st.
  • Analysts have mixed views on NiSource, with BMO Capital Markets raising the target price to $47.00, while the stock holds a consensus rating of “Moderate Buy” and an average target price of $44.44.
  • Interested in NiSource? Here are five stocks we like better.

Aberdeen Group plc increased its holdings in shares of NiSource, Inc (NYSE:NI - Free Report) by 18.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 310,284 shares of the utilities provider's stock after buying an additional 48,533 shares during the quarter. Aberdeen Group plc owned about 0.07% of NiSource worth $12,517,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new position in NiSource during the second quarter worth about $32,000. Larson Financial Group LLC lifted its position in NiSource by 48.8% during the first quarter. Larson Financial Group LLC now owns 811 shares of the utilities provider's stock worth $33,000 after buying an additional 266 shares during the period. Brooklyn Investment Group lifted its position in NiSource by 57.3% during the first quarter. Brooklyn Investment Group now owns 1,370 shares of the utilities provider's stock worth $55,000 after buying an additional 499 shares during the period. Hemington Wealth Management lifted its position in NiSource by 39.4% during the first quarter. Hemington Wealth Management now owns 1,551 shares of the utilities provider's stock worth $62,000 after buying an additional 438 shares during the period. Finally, Rossby Financial LCC acquired a new stake in NiSource during the first quarter worth about $69,000. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

NiSource Price Performance

Shares of NYSE NI opened at $43.56 on Thursday. NiSource, Inc has a fifty-two week low of $34.23 and a fifty-two week high of $44.51. The business has a 50 day moving average price of $42.05 and a two-hundred day moving average price of $40.49. The company has a quick ratio of 0.48, a current ratio of 0.59 and a debt-to-equity ratio of 1.32. The firm has a market cap of $20.51 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 2.90 and a beta of 0.60.

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

NiSource Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Friday, October 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, October 31st. NiSource's dividend payout ratio (DPR) is currently 59.57%.

Analysts Set New Price Targets

Several brokerages have commented on NI. Zacks Research upgraded NiSource to a "hold" rating in a research note on Monday, August 11th. Weiss Ratings restated a "buy (b)" rating on shares of NiSource in a research note on Wednesday, October 8th. Wall Street Zen lowered NiSource from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Evercore ISI assumed coverage on NiSource in a research note on Monday, October 6th. They issued an "in-line" rating and a $45.00 target price for the company. Finally, BMO Capital Markets increased their target price on NiSource from $46.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, September 29th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $44.44.

View Our Latest Stock Analysis on NiSource

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.

Read More

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 - Free Report).

Institutional Ownership by Quarter for NiSource (NYSE:NI)

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