AlphaQuest LLC Makes New $1.72 Million Investment in NiSource, Inc $NI

Key Points

• AlphaQuest LLC has acquired a new stake in NiSource, Inc, buying 42,872 shares valued at approximately $1,719,000 in the first quarter according to their SEC filing.
• NiSource recently declared a quarterly dividend of $0.28 to be paid on November 20th, with a dividend yield of 2.6%.
• Wells Fargo and Guggenheim analysts have increased their price targets for NiSource, with Wells Fargo raising it to $45.00 and Guggenheim to $43.00, while the overall consensus rating remains a "Moderate Buy."

AlphaQuest LLC acquired a new stake in shares of NiSource, Inc (NYSE:NI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 42,872 shares of the utilities provider's stock, valued at approximately $1,719,000.

Several other institutional investors and hedge funds have also modified their holdings of NI. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of NiSource by 64.2% in the 1st 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 during the period. Larson Financial Group LLC lifted its holdings in shares of NiSource by 48.8% in the 1st quarter. Larson Financial Group LLC now owns 811 shares of the utilities provider's stock valued at $33,000 after buying an additional 266 shares during the period. Quent Capital LLC lifted its holdings in shares of NiSource by 44.7% in the 1st quarter. Quent Capital LLC now owns 1,003 shares of the utilities provider's stock valued at $40,000 after buying an additional 310 shares during the period. Optiver Holding B.V. lifted its holdings in shares of NiSource by 105.0% in the 4th quarter. Optiver Holding B.V. now owns 1,281 shares of the utilities provider's stock valued at $47,000 after buying an additional 656 shares during the period. Finally, Bellwether Advisors LLC acquired a new position in shares of NiSource in the 4th quarter valued at about $55,000. Institutional investors and hedge funds own 91.64% of the company's stock.

Insiders Place Their Bets

In related 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 completion of the transaction, the executive vice president owned 28,882 shares of the company's stock, valued at approximately $1,138,528.44. The trade was a 17.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NI shares. BMO Capital Markets raised their target price on NiSource from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Guggenheim raised their target price on NiSource from $42.00 to $43.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Zacks Research upgraded NiSource to a "hold" rating in a research report on Monday, August 11th. Wall Street Zen cut NiSource from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Barclays restated 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. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $42.56.

NiSource Trading Down 0.6%

NYSE NI traded down $0.26 during trading on Tuesday, hitting $42.41. The stock had a trading volume of 4,133,365 shares, compared to its average volume of 4,467,979. 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 company has a market capitalization of $19.97 billion, a PE ratio of 22.56, a PEG ratio of 2.90 and a beta of 0.53. The firm has a 50 day moving average price of $41.09 and a 200 day moving average price of $39.88. NiSource, Inc has a twelve month low of $32.53 and a twelve month high of $43.51.

NiSource (NYSE:NI - Get Free Report) last announced its 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 business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter 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 year.

NiSource Dividend Announcement

The firm 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 $0.28 dividend. 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 is presently 59.57%.

About NiSource

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.