Alkeon Capital Management LLC Makes New $98.68 Million Investment in NiSource, Inc $NI

Key Points

• Alkeon Capital Management LLC has invested approximately $98.68 million in NiSource, Inc by purchasing 2,461,500 shares, representing about 0.52% of the company's stock.
• Several institutional investors have also increased their stakes in NiSource, with MassMutual Private Wealth & Trust FSB raising its investment by 64.2% during the first quarter.
• NiSource has announced a quarterly dividend of $0.28 per share, which will be paid on November 20th, representing an annual yield of 2.7%.

Alkeon Capital Management LLC acquired a new stake in shares of NiSource, Inc (NYSE:NI - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,461,500 shares of the utilities provider's stock, valued at approximately $98,682,000. Alkeon Capital Management LLC owned approximately 0.52% of NiSource at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NI. Comerica Bank raised its holdings in shares of NiSource by 17.6% during the 4th quarter. Comerica Bank now owns 155,765 shares of the utilities provider's stock valued at $5,726,000 after buying an additional 23,361 shares in the last quarter. Freestone Grove Partners LP purchased a new position in shares of NiSource during the 4th quarter valued at about $262,000. Alyeska Investment Group L.P. purchased a new position in shares of NiSource during the 4th quarter valued at about $2,955,000. BNP Paribas Financial Markets increased its stake in NiSource by 39.8% in the 4th quarter. BNP Paribas Financial Markets now owns 968,971 shares of the utilities provider's stock worth $35,619,000 after purchasing an additional 275,949 shares during the period. Finally, Beverly Hills Private Wealth LLC purchased a new position in NiSource in the 4th quarter worth approximately $332,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

NiSource Stock Up 1.3%

NI stock traded up $0.52 during midday trading on Friday, hitting $40.35. The stock had a trading volume of 10,085,179 shares, compared to its average volume of 3,555,325. The firm has a market cap of $19.00 billion, a price-to-earnings ratio of 21.46, a price-to-earnings-growth ratio of 2.69 and a beta of 0.60. The business has a 50-day moving average of $41.44 and a two-hundred day moving average of $40.02. NiSource, Inc has a 52-week low of $33.03 and a 52-week high of $43.51. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.59 and a quick ratio of 0.48.

NiSource (NYSE:NI - Get Free Report) last issued 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. 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 in the prior year, the firm earned $0.21 earnings per share. As a group, equities research analysts forecast 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 Thursday, November 20th. Shareholders of record on Friday, October 31st will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, October 31st. NiSource's payout ratio is 59.57%.

Analyst Ratings Changes

A number of equities analysts have commented on NI shares. Barclays reaffirmed an "overweight" rating and issued a $44.00 price target (up from $42.00) on shares of NiSource in a research note on Monday, August 4th. Wall Street Zen cut NiSource from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Jefferies Financial Group cut NiSource from a "buy" rating to a "hold" rating and decreased their price target for the stock from $48.00 to $44.00 in a research note on Friday. Finally, Zacks Research raised NiSource to a "hold" rating in a research note on Monday, August 11th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $43.11.

NiSource 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.