41,256 Shares in NiSource, Inc (NYSE:NI) Purchased by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP has acquired a new stake in NiSource, Inc, purchasing 41,256 shares valued at approximately $1,654,000.
• Multiple institutional investors have increased their holdings in NiSource, with Vanguard Group now owning over 60 million shares, reflecting a growing interest in the utilities provider.
• Analysts have mixed ratings on НиSource stock, with nine analysts issuing a buy rating while one has downgraded it to a sell, highlighting differing market perspectives.

Aigen Investment Management LP acquired a new position in shares of NiSource, Inc (NYSE:NI - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 41,256 shares of the utilities provider's stock, valued at approximately $1,654,000.

Other large investors have also modified their holdings of the company. Millennium Management LLC raised its holdings in NiSource by 185.0% in the fourth quarter. Millennium Management LLC now owns 9,244,744 shares of the utilities provider's stock valued at $339,837,000 after buying an additional 6,001,486 shares during the period. Capital International Investors acquired a new stake in NiSource in the fourth quarter valued at approximately $219,977,000. Vanguard Group Inc. grew its position in NiSource by 5.3% in the first quarter. Vanguard Group Inc. now owns 60,844,001 shares of the utilities provider's stock valued at $2,439,236,000 after acquiring an additional 3,050,420 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in NiSource by 10.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,370,032 shares of the utilities provider's stock valued at $785,563,000 after acquiring an additional 1,965,334 shares in the last quarter. Finally, Merewether Investment Management LP acquired a new stake in NiSource in the fourth quarter valued at approximately $47,389,000. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

NiSource Stock Performance

NiSource stock traded down $0.28 during mid-day trading on Friday, reaching $42.27. The company's stock had a trading volume of 1,041,992 shares, compared to its average volume of 4,512,921. The firm has a market cap of $19.91 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 2.89 and a beta of 0.53. The business has a 50 day moving average price of $40.69 and a 200-day moving average price of $39.61. The company has a current ratio of 0.59, a quick ratio of 0.48 and a debt-to-equity ratio of 1.32. NiSource, Inc has a twelve month low of $31.70 and a twelve month high of $43.51.

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

NiSource Dividend Announcement

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

Insider Buying and Selling at NiSource

In other NiSource news, EVP Melanie B. Berman sold 6,227 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $39.42, for a total value of $245,468.34. Following the sale, the executive vice president directly owned 28,882 shares in the company, valued at approximately $1,138,528.44. The trade was a 17.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. BMO Capital Markets increased 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. 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 report on Thursday, May 8th. Guggenheim raised their price target on shares of NiSource from $42.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Barclays reissued an "overweight" rating and set a $44.00 price target (up previously from $42.00) on shares of NiSource in a research report on Monday, August 4th. Finally, Wall Street Zen downgraded shares of NiSource from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, NiSource currently has an average rating of "Moderate Buy" and an average price target of $42.56.

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.